Become Redfin Associate Agent for tax write off

Feb 21 24 Comments

Has anyone heard or has opinions on this - I am planning to become a redfin associate (will need to get the realtor license first) for tax write offs.
Don't really plan to take it (real estate) up seriously (for now) but is that a valid thought? Will the cost of license (assume no income from that source for now) offset the tax write off gains?

#irs #tax

State: CA
TC: 200k
Yoe: 2


Update- I am not asking or intending for Tax Fraud. I am asking if the above is a legal loophole.

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 TOP 24 Comments
  • New
    kNUJ50

    New

    kNUJ50
    What are you writing off and against what?
    Feb 21 3
    • New
      kNUJ50

      New

      kNUJ50
      You can only deduct that against what you make as an agent. Not w2 income
      Feb 21
    • New
      kNUJ50

      New

      kNUJ50
      You would also probably have trouble meeting the criteria for car and home office if you were not full time.
      Feb 21
  • New
    kNUJ50

    New

    kNUJ50
    On blind i see people scared to smoke weed, cheat on LC interviews, disobey their parents, use their work computers for porn and job searching, but massive willingness to commit tax fraud.
    Feb 21 4
    • New
      kNUJ50

      New

      kNUJ50
      People get audited all the time for writeoffs that are actually against schedule c income
      Feb 22
    • Microsoft / Cust. Srv.
      💀⛳️

      Go to company page Microsoft Cust. Srv.

       💀⛳️
      There are clear rules here. This IS tax avoidance. It is NOT evasion.
      Feb 22
  • You need actual expenses to write off.

    You’re inviting an audit if you’re trying to pose as a self employed with all loss no income.
    Feb 21 2
    • OP
      I can go and show a few houses per year, but can deduct the
      1) phone bills
      2) home office space
      3) car/fuel

      Right? Or am I missing anything
      Feb 21
    • You can deduct and eventually get an audit + be penalized if that’s your approach lol.

      Expenses can be deducted with reasonable attempt and association with income generation. Having 0 income and a bunch of expenses will basically have you marked for audit.

      Your home office space is evidently going to be measured based on your current FT role too. So you’ll be allocating usage of that space to your Redfin job (aka not a lot)
      Feb 22
  • Amazon
    randy_andy

    Go to company page Amazon

    randy_andy
    For the write off it needs to be your primary job
    Feb 21 3
  • Aren’t you the smartest in the bunch?
    Feb 21 0