tax write offs? - Posted by Brian

Real Estate Investing
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Posted by Randy (SD) on September 23, 2004 at 13:59:50:

Yes, as long as you have the “intent to make a profit”. For example to say you call your business Atlanta Properties (you do not need a legal entity or registered name) just Brian DBA Atlanta properties. You are then allowed to take a deduction for your home office, phones, computers, Internet access, mileage or depreciation for business use on your auto as well as books and tapes and all other expenses relating to your business. Go to www.IRS.gov and checkout publication No. 587 for business use of your home.

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tax write offs? - Posted by Brian

Posted by Brian on September 23, 2004 at 11:25:30:

As a new investor who has spent the last 8 months learning the real estate investment business - books and tapes, r.e. investor meetings, earned r.e. sales license - question: Am i able to take tax deductions for these expenses even though I have not purchased any property or done any deals yet this year? I have not set up a company yet. I have spent a few thousand dollars to educate myself.