Showing and Travel Expenses for Real Estate Teams

To simplify real estate expense management for under $10/user (2026), it's essential to track your business miles driven, keep receipts for meals and lodging, and be aware of common pitfalls. By following these guidelines, you can accurately claim your travel expenses and reduce your tax liability.

Compliance and Record Keeping

Keep all receipts and documentation for business-related expenses, including hotel stays, meals, and transportation costs. For hotel stays, retain the receipt or invoice, and note the dates of stay and the purpose of the trip.

• Save all hotel or accommodation expense receipts, even if they're paid by your company.
• Keep a record of the dates and purpose of each business trip.
• Document all business-related expenses, including meals and transportation costs.
• Organize receipts and documentation in a secure and easily accessible location.

For meal expenses, keep a record of the date, time, location, and purpose of the meal, as well as the names of the people present and the amount spent.

Pitfalls to Avoid

Here are some key areas to watch out for:

• Not keeping accurate records. Keep records for at least three years in case of an audit.
• Misclassifying personal expenses as business expenses. Only deduct expenses that are necessary and ordinary for your real estate business.
• .
• Failing to account for lodging expenses. You can only deduct lodging expenses if they are reasonable and necessary for your business. This means you can't deduct the cost of a luxury hotel room if you're only staying there for a night.
• . Use the correct rate for the tax year you're filing.
• Missing deadlines for expense reporting. Don't wait until the last minute to review your records.

• Keep accurate records of all business-related expenses, including receipts and invoices, to support their tax claims.
• Itemize all lodging expenses, including hotel rooms and other temporary accommodations, and claim them as a business expense.

Tax rules, limits and rates change. Confirm current figures with the IRS or your accountant before you file.