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Should a new real estate agent wait till the start date to spend money...?

I'm a new agent and was told not to buy anything for business use until joining a broker because anything bought before the start date won't be tax deductible. If this is true, how about the license, MLS and association fees? I cannot affiliate my license with the broker before the start date?

Thanks!

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March 04 - US
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Answers (1)

You can claim the Brooklyn Bridge if you want on your taxes. You can claim a limo and jet plane. If you get audited then you might have to explain and justify it. I doubt anything you buy today and claim will trigger an audit. In my opinion, if you buy it for real estate then I would claim it, no matter when you affiliate. It all goes toward the job in my opinion.
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March 04
 
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