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John Juarez, ePRO, SRES, GRI, PMN (The Medford Real Estate Team)

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Ambassador
5,230,079
Debe Maxwell, CRS
Savvy + Company (704) 491-3310 - Charlotte, NC
The RIGHT CHARLOTTE REALTOR!

Just met with my CPA this week - the 'event' items are not deductible but, meals are. The auto deductions are also higher for business owners now as well. Definitely ask your CPA what items you typically deduct to see what the difference is.

I certainly was pleased with my discussion, John!

Mar 01, 2018 09:12 PM
Rainmaker
953,617
Pete Xavier
Investments to Luxury - Pacific Palisades, CA
Outstanding Agent Referrals-Nationwide

Gave up my membership long ago (social only, not really expensive, non golfer), but I'm keeping my membership with Costco warehouse club intact, I can feed a whole group of non domesticated distant relatives for under $20. there...not deductible as well, but not concerned.

Mar 01, 2018 08:42 PM
Rainmaker
5,104,931
Nina Hollander, Broker
Coldwell Banker Realty - Charlotte, NC
Your Greater Charlotte Realtor

I have no club memberships (unless you count BJ's and Costco) and no season tickets for anything... so I'm good. But I do know that next year my tax bill will be about $20K lower and that's not chump change. It could pay for some membership or tickets, but still not going there! 

Mar 02, 2018 04:19 AM
Ambassador
2,684,109
Fred Griffin Florida Real Estate
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

  There are other deductions to compensate.  Talk with your CPA. 

Mar 01, 2018 08:53 PM
Rainmaker
758,035
Peter Testa
Nationwide Homes - Danbury, CT
PETER TESTA

When this was last mentioned in Q+A by Steve Penner he scared me half to death saying they were getting rid of the Entertainment deduction. It was never mentioned that MEALS- which is 100% of my Entertainment Receipts- IS still deductible.

Debe, I met with my Accountant last week too & when I told him what I heard he told me I was fine, just call your Meals "Meals" & not Entertainment.

I don't golf at a Country Club so no worries there. 

Mar 02, 2018 07:49 AM
Rainmaker
1,052,211
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

The benefits of pampering our clients go beyond tax savings.

Mar 02, 2018 02:22 AM
Rainmaker
1,622,432
Inna Ivchenko
Barcode Properties - Encino, CA
Realtor® • GRI • HAFA • PSC Calabasas CA

I'm not into clubs, but into my gym, no deductions there, but tons of benefits for my health:) 

Mar 01, 2018 10:26 PM
Rainmaker
2,220,323
Anthony Acosta - ALLATLANTAcondos.com
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Don't have one to give up John Juarez 

Mar 02, 2018 06:28 AM
Rainmaker
5,583,278
Barbara Todaro
RE/MAX Executive Realty - Happily Retired - Franklin, MA
Previously Affiliated with The Todaro Team

as long as meals are deductible....

Mar 02, 2018 07:42 AM
Rainmaker
7,836,134
Roy Kelley
Retired - Gaithersburg, MD

Nope. 

Mar 02, 2018 06:51 AM
Rainmaker
4,800,082
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I don't have a membership.  I refuse to join any club with such low standards that would accept me.

Mar 02, 2018 05:56 AM
Rainmaker
851,242
Brenda Mayette
Miranda Real Estate Group, Inc. - Glenville, NY
Getting results w/ knowledge & know-how!

No need to... don't have one.  :)

Mar 02, 2018 05:32 AM
Ambassador
2,161,048
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

No, there are many other benefits of belonging to a club than a tax deduction. 

Mar 02, 2018 05:03 AM
Rainmaker
846,475
Marco Giancola
Beachfront Realty - Miami Beach, FL
Realtor (305)608-1922, Miami Beach Florida

Not a "club" type person so it does not pertain. I don't base my life around what kind of a tax deduction I can get either.

Mar 02, 2018 04:03 AM
Rainmaker
815,253
Paul Antonelli
Antonelli Realty - Saint Cloud, FL
Broker Owner; Antonelli Realty

Not here, not those, not ever. I have way better way to entertain my self. 

Mar 02, 2018 01:41 AM
Ambassador
6,393,404
Bob Crane
Woodland Management Service / Woodland Real Estate, KW Diversified - Stevens Point, WI
Forestland Experts! 715-204-9671

Not a member of either of these clubs, all of my money seems earmarked for business or church.

Mar 01, 2018 08:47 PM
Rainmaker
901,535
Carla Freund
Keller Williams Preferred Realty - Raleigh, NC
NC Real Estate Transition & Relocation 919-602-848

I don't belong to clubs. However, I am the recipient of club benefits through sweet friends and clients. I guess that might disappear.

Mar 02, 2018 10:31 AM
Ambassador
3,587,960
Anna "Banana" Kruchten
HomeSmart Real Estate - Phoenix, AZ
602-380-4886

We gave up our CC membership when the market fell down - haven't missed it at all surprisingly.  We didn't use it all that much for a long time when we had it.

Mar 02, 2018 08:43 AM
Rainmaker
2,182,552
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

I heard business lunches are no longer deductable ?

Mar 02, 2018 06:35 AM
Rainmaker
3,071,489
Tony and Suzanne Marriott, Associate Brokers
Serving the Greater Phoenix and Scottsdale Metropolitan Area - Scottsdale, AZ
Haven Express @ Keller Williams Arizona Realty

Fred Griffin nailed this one!

Mar 02, 2018 05:55 AM
Rainmaker
4,882,355
Richard Weeks
Dallas, TX
REALTOR®, Broker

I would never join a club that would have me as a member.

Mar 02, 2018 05:16 AM
Rainmaker
921,504
Annette Lawrence , Palm Harbor, FL 727-420-4041
ReMax Realtec Group - Palm Harbor, FL
Making FLORIDA Real Estate EZ

They remain essential, UNTIL other options and opportunities are available. Many have already created these options and now find 'membership' unnecessary.  

Hmmm, now about that NAR thing......?

Money must be spent to make money.

Mar 02, 2018 04:52 AM
Ambassador
2,436,099
Kat Palmiotti
eXp Commercial, Referral Divison - Kalispell, MT
Helping your Montana dreams take root

I bet most of the people who join country clubs will continue to do so. There are reasons they are there besides the tax write off.

I'm not a member of any country clubs, so don't have to do anything differently!

Mar 02, 2018 04:25 AM
Rainmaker
4,456,506
Endre Barath, Jr.
Berkshire Hathaway HomeServices California Properties - Beverly Hills, CA
Realtor - Los Angeles Home Sales 310.486.1002

John, I have not had time to be in a Country Club since I have been in Real Estate...so that makes it 24+ years, hence that should make me trendy now:)Endre

Mar 01, 2018 10:15 PM
Rainmaker
5,772,575
Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Talk to your CPA, and we don't have a club membership, not even costco.  A

Mar 02, 2018 01:09 PM
Rainmaker
644,025
Greg Large
ERA Real Solutions - Grove City, OH
A Tradition of Trust

the only club membership I have is Sam's Club and no, not giving that up ;:-)

Mar 02, 2018 12:35 PM
Ambassador
3,345,091
Kathleen Daniels, Probate & Trust Specialist
KD Realty - 408.972.1822 - San Jose, CA
Probate Real Estate Services

I have none to give up.  Costso was never a deduction to start with.

Mar 02, 2018 09:37 AM
Rainmaker
1,502,998
Ryan Huggins - Thousand Oaks, CA
https://HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Well, I never joined any of those so it's not biggie for me.  Personally, I don't think it'll have that big of an impact.  I doubt there were that many people who did it FOR THE WRITE-OFF.  My guess is that most people got them and said "Hey, I can play golf AND write it off!"

Mar 02, 2018 09:14 AM
Rainmaker
716,049
Richard Bazinet /MBA, CRS, ABR
West USA Realty - Scottsdale, AZ
Phoenix Scottsdale. Sellers, Buyers & Relocations

You need to talk to your tax accountant.... you can still do it. I took a professional non-credit tax seminar/class not long ago and it was demonstrated how to conduct business for tax deductible events.

Or change accountant.

Mar 02, 2018 06:06 AM
Rainmaker
1,844,301
Lyn Sims
Schaumburg, IL
Real Estate Broker Retired

I never had one lol!

Mar 02, 2018 05:41 AM
Rainmaker
1,543,817
Thomas J. Nelson, REALTOR ® e-Pro CRS RCS-D Vets
Big Block Realty 858.232.8722 - La Jolla, CA
CEO of Vision Drive Realty - Coastal San Diego

Never was a member of either.

Mar 02, 2018 04:58 AM
Rainmaker
1,197,152
Peter Mohylsky, Beach Expert
PMI. Destin - Miramar Beach, FL
Call me at 850-517-7098

I don't see a change with my activities.

Mar 02, 2018 03:35 AM
Rainmaker
1,239,901
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

They will not be a tax deductible item. Work on your clients, if you can find them a property.

Mar 01, 2018 09:06 PM
Rainmaker
4,319,419
Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

John Juarez - never had one such membership - so not missing much!

Mar 02, 2018 05:49 PM
Ambassador
1,076,551
John Meussner
Mortgages in AZ, CA, CO, DE, FL, GA, IN, MD, MN, MT, NC, NJ, NV, OK, OR, PA, SC, SD, TN, TX, UT, VA, WI - Fair Oaks, CA
#MortgageMadeEasy Fair Oaks, CA 484-680-4852

Nope!  But only because I dont have one : )

 

I'm more of the hole-in-the-wall bar with pool tables type than a country club type.

Mar 02, 2018 09:36 AM
Rainmaker
3,416,038
Scott Godzyk
Godzyk Real Estate Services - Manchester, NH
One of the Manchester NH's area Leading Agents

Wil be intersting if any good deals or savings results?

Mar 02, 2018 08:29 AM
Rainmaker
2,781,173
Richie Alan Naggar
people first...then business Ran Right Realty - Riverside, CA
agent & author

One expense dies and another is born...

Mar 02, 2018 07:29 AM
Rainmaker
4,434,127
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

I do not belong to any clubs.

Mar 02, 2018 03:27 AM
Ambassador
3,164,294
Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

there will be less taking clients out and picking up the tab for sure.

Mar 07, 2018 09:53 PM
Rainmaker
5,868,554
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

I meet with past and current clients all the time, and know dinner is only 50% deductible.

Mar 05, 2018 04:39 PM
Rainmaker
5,216,398
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

It will be interesting to see who does what. I have no current membershiips.

Mar 04, 2018 04:24 PM
Rainmaker
5,005,642
Dorie Dillard Austin TX
Coldwell Banker Realty ~ 512.750.6899 - Austin, TX
NW Austin ~ Canyon Creek and Spicewood/Balcones

I learned that the meals are still allowable..I actually think its all going to be good..will see my CPA has my data!

Mar 03, 2018 07:16 PM
Rainmaker
1,712,676
Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

As Groucho said, any club that would have me as a member, I don't want to belong to.

Mar 03, 2018 05:36 AM
Rainmaker
4,272,548
Paul S. Henderson, REALTOR®, CRS
Fathom Realty Washington LLC - Tacoma, WA
South Puget Sound Washington Agent/Broker!

A couple of years ago...

Mar 02, 2018 10:45 PM
Rainmaker
3,986,258
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

I will do nothing until my CPA says I can

Mar 02, 2018 02:13 PM
Rainmaker
1,466,207
Michael Setunsky
Woodbridge, VA
Your Commercial Real Estate Link to Northern VA

John Juarez A lot of changes coming this year.

Mar 02, 2018 07:21 AM