has broad experience working with organizations and individual experts in the real estate business in Charlotte as well as the greater Carolinas.
e comprehend that real estate isn’t customary like other business ventures; it has a few subtleties that are only comprehended by professionals who have been exposed to the industry for many years. From working with realtors and property agents, we have built our real estate accounting and tax services around the unique set of compliance, financial operations, and cash flow issues that emerge most often for these types of taxpayers.
As a real estate agent or a property broker, you are usually not considered an employee for issues related to federal tax. In the event that you get commissions from sales exchanges, regardless of whether you’re working full-time for a real estate company, you are considered to be self-employed.
This status can be quite helpful, as now you are qualified for certain deductions and write-offs that can bring down your overall tax payment, which are unique to your industry.
We understand that it can be tiring to understand the ins and outs of self-employment taxes and deductions! However, when it comes to managing your own business that is set up as a real estate agent or manager, it is highly advised that you engage a qualified tax professional who specializes in this area to take care of your unique accounting and tax-related issues thoroughly. This professional advocate will make sure that issues unique to you are prioritized and that the filing is done accurately in order to avoid any issues with the I.R.S.
Understanding the necessities of Real Estate Agents and Brokers
As you see an increase in sales, you will find yourself paying more attention towards accounting, tax and financial management. You will see yourself not focusing on core business practices and not spending time and energy on customer service or in SALES and BUSINESS DEVELOPMENT.
If you feel the need for C.F.O. services or any assistance related to your accounts payable management, Accounting Solutions USA is ever ready to offer expert assistance. Our professionals can help you streamline your workload so you are not spending inefficient time exploring tax-related work that is more effectively and efficiently performed by licensed and trained accountants.