Tom and Bev's Blog

When the Tulsan Million Mile began just four months ago, we knew it would be one of the most challenging events for Tulsans.  However, many Tulsans have gone the distance and have been happily logging their activity miles every day on TulsaMillionMiles.com.  The website's odometer has just turned over to 125,000 miles.  That means, Tulsans are an eighth of the way to their goal of one million miles.  Yeah!

Mayor Kathy Taylor began the Tulsa Million Miles so Tulsans can get up and get active.  She started the website so they can track their exercise miles by walking, running, swimming, biking or any other form of exercise activities that will keep them fit and healthy.  With the help of the website, individuals and groups can progress together with the miles they have logged.

We all know that small changes to our health can pay off.  One way to help track your miles is to clip a pedometer on your pants and wear it everyday.  It will track your steps and you will soon see those miles add up quickly.  A stationary bike will take you five miles in approximately 22 minutes.  You'll not only start to look better, but you'll start to feel better too.

It's never too late to sign up for the Tulsa Million Miles for those who have not done so yet.  Just visit www.tulsamillionmiles.com.  You can begin logging your exercise after signing up.  You can also check out Tulsa's 2009 fitness events, join contests and much more.  And don't forget to share your success stories.

We want to congratulate all Tulsans who are taking the Tulsa Million Miles challenge.  Keep up the good work.

Tulsa, Oklahoma Community Information

Tulsa, Oklahoma Real Estate

Homes for Sale in Tulsa, Oklahoma

Tulsa, Oklahoma Realtors® Tom & Bev Herring

There are around 11 million real estate investors in the United States, though many of them didn't consciously choose this.  Due to the recent real estate market conditions, many investors became so accidentally.  People who were buying homes and flipping them for a profit are no longer able to sell them.  However, they can rent them out to avoid foreclosure.  These types of investors are more likely to lose out on tax deductions if they are unaware of how to manage their investment properly.

There are many tax benefits and write-offs for real estate investors to take advantage of.  However, to take advantage of these benefits, you have to keep careful track of your income and expenses.

There are five areas you should pay close attention to to make sure you are not losing money on your real estate investment.

1.    Depreciation deductions.  Set up a depreciation expense so you can write-off all the value over 27.5 years.  The IRS allows real estate investors to use an accelerated depreciation method.  Only 13% of investors actually take advantage of this method.  Ask your accountant for more information.

2.    Track your travel to the property.  All your travel to and from the property can be written-off, so keep up with all your millage.

3.    Tax preparation.  The Schedule E form, which you have to fill out for rental property, can be written off.

4.    Document repairs.  As long as the repair was done in the same year, it can be written off.

5.    Property damage.  If there was damage to the property from rain or a storm, then you can file a casualty expense for a write-off.

These tax deductions will help you get the most from you taxes this year and each year you own your real estate investment.  Good luck with it.

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Tulsa, Oklahoma Real Estate

Homes for Sale in Tulsa, Oklahoma

Tulsa, Oklahoma Realtors® Tom & Bev Herring

The Muscogee Creek Nation will soon open the doors to its new River Spirit Casino in Tulsa, Oklahoma.  The River Spirit Casino will be located near 81^st Street and Riverside Drive.

The opening date was originally set for this month (February) but was pushed back to March due to bad weather and construction delays.  So, as it stands now, the River Spirit will open on time no matter what.

The River Spirit Casino is expected to be quite nice.  It comes with a price tag of $195 million.  The casino will be 300,000 square feet when complete and will boast one of the largest gaming floors in Oklahoma, featuring 2,800 electronic games, 15 poker games and 24 table games.  River Spirit will also feature a High Stakes VIP lounge, a live entertainment venue and four dining areas.  River Spirit Casino players will also have a convenient 1,300-space parking garage.

River Spirit is opening positions for 650 new employees in addition to their current staff.  This is great news for many Tulsa residents that are currently unemployed.

Be on the lookout for promotions in the mail.  You could play for free and go home a winner.  At any rate, win or lose, it will help the Tulsa economy.

Tulsa, Oklahoma Community Information

Tulsa, Oklahoma Real Estate

Homes for Sale in Tulsa, Oklahoma

Tulsa, Oklahoma Realtors® Tom & Bev Herring