If you’re struggling to keep track of all your businesses expenses and plan for your taxes, you’re not alone. That’s why certified tax coaches and professional CPAs, like the ones at Tax Plan Wealth, are here to help. We work with real estate agents and brokers to maximize profits and reduce your taxable income. Our specialized services have helped hundreds of businesses save thousands of dollars in taxes each year. We work hard to help you legally cut your tax bill so you can enjoy more of your hard earned money.
Working as a real estate agent or broker is great. You get the freedom and flexibility of an entrepreneur and often create your own schedule. With an entrepreneur-like position, if you want to succeed, it requires a lot of hard work and dedication. Real estate agents and brokers receive most of their income from commission.
This means that technically, under federal tax guidelines, you’re not considered an “employee.” Instead, real estate agents and brokers are considered a self-employed sole proprietor. While you’re likely still employed by an actual firm, you will need to calculate all of your taxes, including expenses and deductions, on your own.
If you’re not well versed in tax planning, this can be difficult. You already have a full-time job, so adding accounting to your to-do list is daunting. To help you better prepare, we’ve put together a 361-page tax planning guide for real estate agents and brokers including many additional files for download.
Let our team assist you with your Real Estate Agent Tax Plan for an income under $150k. The vast majority of real estate agents are legally considered self-employed. They are not employees. And this distinction comes with a few key differences in how income taxes are paid.