Real Estate Agent Tax Preparation - Molen & Associates

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Realtor Tax Preparation & Accounting in Houston, TX

Realtor Tax Preparation & Accounting in Houston, TX

At Molen & Associates, we understand the unique needs of real estate agents. That’s why we offer a comprehensive suite of tax preparation, tax planning, and accounting services designed to help you save time and money. Here’s a closer look at the Molen Advantage and how our services can benefit you.

We’re experts in real estate taxes.  As a result, we can help you maximize your deductions and minimize your tax liability. In addition, we offer monthly accounting services to help you keep track of your expenses and income. This gives you a clear picture of your financial situation so you can make sound business decisions.

We also offer strategic tax planning services to help you save money in the long run. For example, we can help you structure your real estate transactions in a way that minimizes your taxes. We can also help you take advantage of available tax incentives. By proactively planning for your taxes, you can save yourself a lot of money and headache down the road.

How can a Realtor write off expenses?

As a Realtor, one of the main benefits of working with a tax preparation and accounting firm like Molen & Associates is that you can write off your business expenses to lower your overall tax liability. Realtors typically have a number of costs associated with doing their job, such as advertising, marketing materials, travel expenses, office supplies, and more. By taking advantage of these deductions, you can greatly reduce the amount of money that you have to pay in taxes each year. Additionally, if you are facing issues with the IRS due to non-compliance or other issues related to your business finances, Molen & Associates can help with IRS representation services that can help you resolve these issues and get back on track.

Tax loopholes for realtors

Realtors are often looking for ways to minimize their tax burden, and one common strategy is to take advantage of tax loopholes. While we don’t love the term loopholes, there are a number of ways to save on taxes specific to realtors, including deductions for business expenses like travel, marketing, advertising, and office supplies. Additionally, realtors can deduct the cost of running their businesses, including things like property taxes and insurance premiums.

Another popular way for realtors to reduce their tax liability is through the use of tax-deferred retirement accounts, such as IRAs or 401(k)s. By contributing a portion of their earnings each year into these types of accounts, realtors can defer paying taxes on that money until they retire. Of course, it is important to be diligent about tracking these contributions in order to take full advantage of this loophole.

Overall, there are many different strategies that realtors can use to minimize their taxes and maximize their profits. Whether it’s taking advantage of business deductions or investing in tax-advantaged retirement accounts, there are plenty of ways for realtors to save money on their taxes and boost their bottom line.

How can Realtors save on taxes?

Realtors can save on taxes in many ways, such as taking advantage of tax deductions and credits that are available to them. One of the most effective strategies for reducing one’s tax liability is to make the most of all possible write-offs. This means keeping track of all business expenses and taking full advantage of things like travel and entertainment deductions, home office expenses, and vehicle mileage reimbursements. Realtors who stay current on changes in tax law and tax brackets can take steps to stay ahead of any shifts that may impact their bottom line. We assist in trying to educate you year over year on how your daily decisions impact your overall profitability and tax 

Overall, there are many strategies that realtors can use to save on taxes, so it is important to work closely with an accountant or other financial professional to ensure that you are always maximizing your tax savings. By having us assist you with your monthly bookkeeping, you can rest assured that not only are you saving time but your expenses are being correctly categorized so when it comes time to file your taxes, you don’t have to worry about it!

PAssionately Engaged

We aren't your average tax firm. We specialize in helping you maximize your tax situation and live more comfortably.

Education Focused

We guarantee you will learn something new. If you are looking for an average experience, we probably aren't the firm for you.

Feels Likely FamiLY

We started business 40 years ago out of the Molen's home and to this day, we still treat our clients like family.

 

How much should I save for taxes as a realtor?

As a realtor, it is important to save as much as possible for taxes to ensure that you are able to cover your expenses and liabilities throughout the year. The amount that you should save will depend on several factors, such as your income level, the type of real estate transactions you conduct, and other tax-related expenses that you may incur.

One good rule of thumb is to try to set aside at least 30% of your income each year for taxes. This can help ensure that you have enough money available when tax time comes around, so that you don’t end up getting hit with unexpected tax bills or penalties. Additionally, it may be helpful to consult with a tax professional at Molen & Associates who can help you develop a strategy for saving for taxes based on your individual situation.

Self Employment Tax as a Real Estate Agent

One of the major ways we can help you minimize taxes as a real estate agent is by determining if you should file as an Individual through a schedule C or filing as an S Corporation. This is a decision that can help you avoid a lot of extra taxes by avoiding Self Employment Tax. For more information, read on via the article below.

Ten Proven Tax Strategies for Saving Money as an S Corp Owner

If you are a realtor struggling with your taxes or have questions about which deductions may be available to you, it is a good idea to consult with an experienced accountant or tax professional who can help you navigate the intricacies of the real estate market. With the right guidance and some smart planning, you can make sure that your real estate business is as profitable as possible come tax time.

Realtor tax preparation near you

The Molen & Associates advantage is clear: we have over 40 years helping clients just like you and we’re committed to helping our clients save time and money. If you’re a realtor looking for comprehensive tax preparation, tax planning, and accounting services, give us a call today. We’ll be happy to discuss your specific needs and tailor a solution that’s right for you.

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15 Minutes Free

Contact us for a free 15 minute consultation. We would love to be one of your trusted advisors.

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Realtor Income Tax Checklist

Use our tax preparation checklist that has been designed specifically for realtors.

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Browse Blog Posts

We have dozens of blog posts to catch up on the new tax laws and give you insights into deductions and credits to help your tax bill.

The Molen & Associates Difference

Mike Forsyth

“Super helpful and timely. This is our first year with them and we look forward to trusting them with our taxes and business books for years to come.”

Caitlin Daulong

“Molen & Associates is amazing! They run an incredibly streamlined process, which makes filing taxes a breeze. So impressed with their attention to detail, organization, and swift execution every year. Cannot recommend them enough!”

Sy Sahrai

“I’ve been with Mr. Molen’s company for few years and I felt treated like family respect and dignity. They are caring, professional and honest, which hard to find these days. Love working with them.”

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