Real Estate Adviceadmin
Why would a Realtor use an Accountant?
Did you know that every 1 in 4 real estate agents have tax problems? When you are in business for yourself there is a lot at stake when it comes to taxes. Delegating this part of your business can be key to your success. You are giving yourself more time to focus on what you do best — which in turn builds more revenue for you. Hiring an accountant to help you make important financial decisions and help you keep appropriate records is an investment in your business.
As an expert on home buying and selling, your client trusts you to save them time and money when searching for their new home. You bring value to your clients by understanding legal forms, fair market value and negotiations, etc. Likewise, an expert in accounting can guide you to sound financial decisions through tax planning and bookkeeping services.
Do you put away at least 20% of your real estate earnings? Let us help you project your earnings so you save an appropriate sum of money for tax time. Do you have good document recording habits? Doing so will save you or your accountant hours of time sifting through receipts at tax time and the chance of missed tax deductions. For example, maybe a recurring subscription cost was on auto-pay and being charged to a credit card you rarely think about? Or maybe you overlooked a hotel, gas station, restaurant, or travel expense? It’s simple: missed deductions mean more taxes to pay and you don’t want or need that! We offer real time reports and forecasts of income/taxes/expenses that will help you plan year-round.
Distinguishing between business and personal use can be challenging when it comes to vehicle and smartphone use. Use an accountant to keep track of your personal and business expenses through the year, so when tax season comes around, you’re not guessing and stressing. It’s just business as usual.
When a Realtor has well organized records all year long they can make better decisions for the future. Decisions that are in line with their goals. Private Tax Solutions offers you smart solutions and peace of mind. Call us today at 844-774-8829 to talk about how we can help you.