This year, taxes for individual agents like yourself are due on April 18. Many of us still haven’t filed. But now that April is just around the corner, it’s time to get your paperwork together and finally sit down with those taxes. To help you complete your taxes in the least stressful way possible, we asked top agents their advice on how you can get your real estate business documents in order and reduce your tax bill as much as possible. And even if you have already filed for 2016, these tips will still be useful information that you can leverage for next year’s taxes. 1. Form an LLC and file as an S Corp. Bret Lamperes, owner of The Lamperes Team in Northern Colorado, started his realty team with three agents to do $16 million in their first year in a small market. Now, his team has grown to 10 agents and business is booming. Lamperes offers some excellent advice to agents: He suggests that every agent should form an LLC and file as an S Corp. Although this may...
- Form an LLC and file as an S Corp.
- Create a SEP (simplified employee pension).
- Work with a great accountant.
Big plans for business in 2018?
Give yourself the tools to own the new year at Connect New York, Jan 22-26, 2018