More Money in Your Pocket

In this episode, Jeff discusses: Passion is the key to success. The importance of having a business plan Writing down your plan and setting goals The power of creating a vision board Key Takeaways: It is your passion that drives you toward specific goals, regardless of how unlikely or complex they might be. When your why and passion are big enough, nothing can stand in your way of achieving your d...

In this episode, Jeff discusses: The importance of keeping records Tracking your income and expenses Categorizing your charges and deposits The difference between gross income and net income Key Takeaways: There is no need to give yourself more time to prepare for tax season, just a better, more consistent system. By keeping records, you’ll be able to understand where you stand financially at any...

In this episode, Jeff discusses: How does tax planning work? Tax planning in advance can save you money Jeff's tax strategies he uses with clients Key Takeaways: In tax planning, an individual's or a business's financial situation is aligned with their financial goals by leveraging the tax code, and sometimes by considering unique and complex situations. Planning your taxes throughout the year is...

In this episode, Jeff discusses: Getting incorporated as a real estate agent The impact of most agents not realizing they are business owners now Setting up a PLLC Getting a debit card or a credit card for your business  Key Takeaways: As a real estate agent, becoming incorporated should be among your first actions after obtaining your license. Check with your state and the department of real...

In this episode, Jeff discusses: How does the home office work and what are the rules The importance of using the home office deduction Home office audit issues S-corporations or partnership home office deductions Key Takeaways: Two requirements must be met by your home office in order for it to be your primary place of business: you use it exclusively for administrative or management activities o...

In this episode, Jeff discuss: Writing off your vehicle expenses on your taxes How important is keeping a mileage log? The best way to track the mileage Key Takeaways: Our vehicles can be written off on our taxes in two ways: the standard mileage and actual expenses. The strategy you choose for your business will determine which of these two options is most beneficial. Regardless of whether you pi...

In this episode, Jeff discuss: How being a real estate agent or a business owner is like riding a bike Running a business requires the right protection.  Hiring your kids to work for you Key Takeaways: Being a real estate agent or a business owner is very similar to riding a bike – it looks easy, but it’s not, and it takes balance to get there, to learn how to run a business, and to be passio...

Real Estate Agents don’t understand the tax part of their business. They are losing the tax game with every transaction and it is costing them money. Join Jeff Hockett weekly to learn the tax rules, basic and advanced strategies, and the basics of running a business so you can keep more money in your pocket and pay as little in taxes as legally required. If you are new to real estate, have be...