NC REALTORS® Convention is More Affordable Than You Think

Ask any attendee of previous NC REALTORS® Conventions if they feel the benefits they received at the meeting outweighed the cost, and you’ll likely hear a resounding “Yes!” Still, you might be concerned over the cost of attending the NC REALTORS® Annual Convention. While we can’t eliminate all the costs, we can tell you how to soften the impact – with a little help from Uncle Sam. Consider the example below and I’m sure you’ll agree that the NC REALTORS® Annual Convention is a bargain you can’t afford to miss.

The costs associated with attending the Annual Convention should be considered an “ordinary and necessary” business expense, and should qualify as a deduction on your income tax return. As REALTORS® are commissioned agents, the deduction would reduce both your income tax and your Social Security or self-employment tax.

To show you how this works, let’s assume the costs for attending the Convention are $1,200, which includes a registration fee, three nights of hotel expenses, meals and travel costs. Assuming an average income tax rate of 27.5 percent, the $1,200 cost would provide an overall reduction in your total tax of approximately $330, resulting in an estimated total cost of attending the convention of $870.

Now let’s take a look at all you get for your money: three nights in beautiful Wilmington, meals, travel costs, registration, more than 20 education sessions led by nationally-known instructors, the opportunity to see cutting-edge products and services at the Expo, and a chance to network with other REALTORS® from across the state. Not too shabby for a net cost of about $870. Don’t miss the opportunity to realize all these benefits at such an affordable cost.