| Pound Ridge NY Weekly Real Estate Report | 2/24/2014 | |
| Homes for sale | 56 | |
| Median Ask Price | $1,225,000.00 | |
| Low Price | $285,000.00 | |
| High Price | $5,700,000.00 | |
| Average Size | 4242 | |
| Average Price/foot | $345.00 | |
| Average DOM | 141 | |
| Average Ask Price | $1,450,728.00 | |
The vast majority of real estate brokers and agents are self-employed sole proprietors. They are often married to spouses who are self-employed as well. Marital togetherness is great, but when spouses each have their own separately run business, they need to keep their business income (or losses) separate for self-employment tax purposes. One spouse’s business losses cannot be used to reduce the other spouse’s net self-employment income and thereby reduce the Social Security and Medicare tax due on that income. This is so even if spouses live in a community property state like California. The U.S. Tax Court recently taught this lesson to Brenda Fitch, a California-licensed real estate agent, and her husband, Donald, a CPA. Self-employment taxes are based on net earnings from self-employment — that is, on the profit earned from the business after subtracting deductible expenses.
– See more at: http://www.inman.com/2014/02/24/self-employed-spouses-with-separate-businesses-still-owe-taxes-even-if-one-loses-more-than-the-other-makes/?utm_source=20140224&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.qv1F5J6t.dpuf
At Agent Reboot in New York City last month, real estate coach and trainer Travis Robertson outlined how Gen Y is reshaping the buying and selling experience to fit how they do business. Are you prepared to cope? Suppose you’re at a party and a longtime friend introduces you to a Gen Y (millennial) attorney who has just relocated from New York to join their local firm. The attorney wants to buy a loft condo within walking distance of their firm, which just happens to be the area where you specialize. Will you be the agent who captures the business? The answer to that question will probably be based upon what happens in the five minutes immediately following your introduction. If you haven’t done so already, search your own name on Google and see what turns up on the first page of the search. That’s exactly what that young attorney did within seconds or even minutes of leaving you. He searched your name on Google to see if you would be a good fit. In fact, many will make the decision to work with you based upon what they find in that search. If you haven’t embraced social and mobile and if your profile doesn’t show that you specialize in the downturn urban lifestyle, chances are that buyer will continue to search for someone who does meet those criteria.
– See more at: http://www.inman.com/2014/02/24/4-things-millennial-homebuyers-desire-in-a-real-estate-agent/?utm_source=20140224&utm_medium=email&utm_campaign=dailyheadlinesam#sthash.0hRRbGEl.dpuf