Accounting for Real Estate Brokers & Agents in Austin
Presti & Naegele offers trusted accounting for real estate brokers & agents, delivering personalized tax support for real estate professionals across the Austin area. With every agent facing different tax needs, our services are built to simplify the process and keep your financials in order.
From high-rise listings in downtown Austin to suburban properties in Round Rock or investment homes near Zilker Park, real estate agents throughout Austin rely on our expert tax services to stay ahead of the curve.
Real Estate Agents and Brokers in Austin
As a real estate agent in Austin, you’re categorized as self-employed. This means you must handle your own self-employment taxes, including Medicare and Social Security. While Texas doesn’t have a state income tax, you’re still responsible for making quarterly federal estimated payments to stay on track.
CHOOSING THE RIGHT BUSINESS ENTITY in Austin
Legal Structure: How your Austin real estate business is structured will impact how you're taxed. At Presti & Naegele, we help you choose the legal entity that best supports your financial goals and long-term success.
✔ Sole Proprietorship – Easy to manage, with all income and expenses reported on your personal tax return.
✔ Limited Liability Company (LLC) – Offers liability protection with flexible tax treatment options.
✔ Partnership – Designed for shared business ownership and joint financial responsibility.
✔ S-Corporation – Pass-through taxation with the potential for tax savings, depending on your income level.
✔ C-Corporation – A more complex structure with separate taxation, often suited for larger or growing businesses.
Record Keeping
Keeping up with commissions, expenses, and tax records is essential in Austin’s competitive housing market. Our property accounting services in Austin are designed to help agents stay organized, accurate, and stress-free come tax time.
That's why you need
Property Accounting Services.
Tax Deductions
Real estate professionals in Austin operating as self-employed are eligible for a wide range of tax deductions. Our property accounting services help ensure those deductions are properly tracked and applied. Common ones include:
✔ Business Expenses: Such as listing tools, signage, subscriptions, and advertising.
✔ Home Office Deduction: If you have a dedicated workspace in your home, you may be eligible to deduct a portion of your housing costs.
✔ Vehicle Expenses: Travel to showings, meetings, and events across Austin can qualify for mileage or actual cost deductions.
✔ Meals and Entertainment: Partially deductible expenses for business-related meals with clients or prospects.
✔ Education and Training: Courses, licensing renewals, and professional development tied to your real estate business.
✔ Health Insurance Premiums: Deductible for self-employed agents who pay their own health insurance premiums.
Retirement Planning
Austin real estate brokers and agents have several retirement options available that help reduce taxable income while building long-term savings. Choosing the right plan depends on your income and business setup.
✔ Solo 401K Plans – A tax-advantaged retirement plan with high contribution limits, ideal for independent agents.
✔ Simplified Employee Pension (SEP) IRAs – A simple and flexible plan that lets you contribute a portion of your business income.
✔ Defined Benefit Plans – Offers a predictable retirement benefit and allows for significant deductible contributions.
✔ Health Savings Accounts (HSA): Features triple tax benefits—deductible contributions, tax-free growth, and tax-free medical withdrawals.
Need More Information?
Contact Presti & Naegele today for a free consultation regarding property accounting services for real estate brokers and agents in Austin.
For inquiries or expert guidance, contact Presti & Naegele Accounting Offices. Your success awaits!
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WHAT OUR CLIENTS ARE SAYING
I have had my business for more than 10 years and struggled through several *truly awful* accountants in the early years. I found Presti & Naegele about five years ago and have never looked back. They are a life-changing breath of fresh air and they will be my accountants for as long as I live. Donald Sager brings me confidence, peace and calm in an area of the business that would otherwise be stressful. He knows what he's doing and is always extremely responsive and ready with a plan of action and to explain anything at all. I am so grateful for him!
Eager to collaborate with Presti & Naegele?
We welcome the opportunity to understand your financial needs and tailor solutions for success. Join our distinguished clientele who have experienced the excellence of our services. Let's embark on a journey toward financial prosperity together.
