Accounting for Real Estate Brokers & Agents in Boston
Presti & Naegele offers trusted accounting for real estate brokers & agents, helping professionals throughout Boston navigate the complexities of tax filings and compliance. Every agent operates differently, and our services are tailored to match your specific tax profile.
Whether you're listing brownstones in Back Bay, showing lofts in the Seaport District, or managing investment properties in Dorchester, real estate agents across Boston turn to us for clear, dependable tax support year-round.
Real Estate Agents and Brokers in Boston
Real estate professionals in Boston are treated as self-employed, which means you’re responsible for covering your own self-employment taxes—including Medicare and Social Security. Massachusetts also requires state income tax payments, so it’s essential to stay on top of your quarterly estimated payments.
CHOOSING THE RIGHT BUSINESS ENTITY in Boston
Legal Structure: How you set up your real estate business in Boston affects how your income is taxed. At Presti & Naegele, we help you identify the most effective legal structure for your financial goals.
✔ Sole Proprietorship – Straightforward and easy to manage, with income taxed on your personal return.
✔ Limited Liability Company (LLC) – Offers liability protection and flexible tax options.
✔ Partnership – Ideal for agents teaming up to share business operations and income.
✔ S-Corporation – A pass-through entity that may offer tax advantages while still providing liability separation.
✔ C-Corporation – A more complex structure with its own tax obligations and filings, separate from the owner.
Record Keeping
Managing your commission income, expenses, and financial records is essential for agents in Boston’s competitive market. Our property accounting services in Boston are built to help real estate professionals stay on track and ready for tax season.
That's why you need
Property Accounting Services.
Tax Deductions
If you’re self-employed in Boston’s real estate industry, there are several tax deductions you can utilize. Our property accounting services help ensure you're getting the most from each deduction, including:
✔ Business Expenses: Including marketing platforms, digital tools, office supplies, and listing costs.
✔ Home Office Deduction: If you have a dedicated space at home, you may deduct a portion of your household costs.
✔ Vehicle Expenses: Business-related travel within Boston and the surrounding area may qualify for mileage or expense deductions.
✔ Meals and Entertainment: Some costs tied to client meetings and business meals may be partially deductible.
✔ Education and Training: Real estate courses, continuing education, and certifications.
✔ Health Insurance Premiums: Deductible if you pay your own health insurance as a self-employed individual.
Retirement Planning
Boston real estate agents have a range of retirement savings plans to choose from—each offering tax advantages and long-term financial benefits. Choosing the right plan depends on your income, goals, and business structure.
✔ Solo 401K Plans – A flexible plan with high contribution limits and tax-deferred earnings, ideal for independent agents.
✔ Simplified Employee Pension (SEP) IRAs – A simple way for self-employed professionals to contribute a percentage of earnings.
✔ Defined Benefit Plans – Offers set retirement benefits and allows for large, tax-deductible contributions.
✔ Health Savings Accounts (HSA): A tax-efficient way to save for medical costs with deductible contributions, tax-free growth, and tax-free withdrawals for qualified expenses.
Need More Information?
Contact Presti & Naegele today for a free consultation regarding property accounting services for real estate brokers and agents in Boston.
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.
