Deductr and REALTORS® Federal Credit Union Solidify Partnership to Help Members at Tax Time

Orem, UT, November 19, 2015 (Newswire.com) - ​​​​Deductr and REALTORS® Federal Credit Union have created a partnership to help credit union members better navigate the tax landscape in their real estate businesses.

No one wants to be the subject of a tax audit, but according to Philip Panitz a nationally known tax litigator with Panitz & Kossoff, the IRS is casting a very wide net against what they perceive as abuse in the area of real estate.*

"We partnered with Deductr because, like the Credit Union, they understand the unique needs of REALTORS®, and we are pleased to offer our members promotional access to their software with a continuing discount."

Victoria Gillespie, SVP, National Director of Business Development

Deductr has developed a web and mobile application to help real estate agents and independent business owners automatically track and document every potential tax deduction during the year, providing detailed accurate records to back up each claim.

According to Panitz, the “audit process” for small business owners can be excruciatingly painful, more so than large business owners.  “It comes down to time and money” he says. Small business owners typically don’t have the resources to spend a lot of time gathering information to comply with the IRS’ numerous requests, and the common complaint is that an IRS audit takes the owner of the business away from their business without anybody to cover for them. The lack of productivity then creates a greater burden.

Deductr was specifically designed to easily gather tax related information, in real time, throughout the year that might be needed to comply with IRS requests during an audit.   It then provides printable or electronic reports that can be mailed or emailed to any tax professional.

“We created Deductr to help small and independent business owners maximize their deductions and eliminate tax-time stress,” says Tyler Thompson, VP of Business Development at Deductr. “Deductr does all the heavy lifting as far as tracking expenses and mileage, letting users focus on growing their business.”

“The Credit Union is proud of the value-added benefits it offers its members,” says Victoria Gillespie, SVP and National Director of Business Development for REALTORS® Federal Credit Union. “We partnered with Deductr because, like the Credit Union, they understand the unique needs of REALTORS®, and we are pleased to offer our members promotional access to their software with a continuing discount.”

About REALTORS® Federal Credit Union, a Division of Northwest Federal Credit Union

Originally founded in 2008 by the National Association of REALTORS®, REALTORS® Federal Credit Union was the first-ever virtual credit union. REALTORS® Federal Credit Union is a Division of Northwest Federal Credit Union. For more information, visit www.REALTORSFCU.org.

About Deductr™

Founded in 2009 by two small business owners and a CPA, Deductr provides accurate, automatic expense, mileage, and time tracking for the small and independent business owner.  Deductr helps thousands of business owners save thousands of dollars on their taxes every year. For more information contact [email protected] or visit www.deductr.com

*Informational Source: http://www.coloradorealtors.com/is-the-irs-targeting-real-estate-professionals-for-audits/