Accounting for Real Estate Brokers & Agents in Denver
Presti & Naegele provides specialized accounting for real estate brokers & agents, offering tax services tailored to the needs of real estate professionals in Denver. With each agent facing unique tax requirements, we deliver personalized support that keeps you focused on your clients, not your paperwork.
From helping buyers in LoDo to listing homes in Cherry Creek or handling mountain properties in nearby suburbs, agents across the Denver metro area trust us to guide them through tax season with clarity and precision.
Real Estate Agents and Brokers in Denver
Real estate agents in Denver are considered self-employed, which means you're responsible for your own self-employment taxes, covering Medicare and Social Security. Additionally, Colorado’s state income tax means you must stay current with estimated quarterly payments to avoid unnecessary penalties.
CHOOSING THE RIGHT BUSINESS ENTITY in Denver
Legal Structure: How your Denver real estate business is structured affects how you’re taxed. At Presti & Naegele, we help evaluate your setup and recommend the most effective entity for your financial situation.
✔ Sole Proprietorship – A basic structure where business income is reported on your personal return.
✔ Limited Liability Company (LLC) – Offers liability protection with options for pass-through taxation.
✔ Partnership – For teams or co-owned businesses that share profits and responsibilities.
✔ S-Corporation – Allows income to pass through to your personal return, possibly reducing your tax burden.
✔ C-Corporation – A standalone entity with its own tax filings and legal responsibilities, best suited for more complex business plans.
Record Keeping
Accurate recordkeeping is key to managing commissions, business expenses, and financial documentation in Denver's active real estate market. Our property accounting services in Denver help agents stay organized, compliant, and prepared year-round.
That's why you need
Property Accounting Services.
Tax Deductions
As a self-employed real estate agent in Denver, you’re eligible for numerous tax deductions. Our property accounting services help ensure you're taking full advantage of them. Common deductions include:
✔ Business Expenses: Real estate tools, advertising, signage, and professional services.
✔ Home Office Deduction: If you use a dedicated space in your home for work, related expenses may be deductible.
✔ Vehicle Expenses: Deduct mileage or actual vehicle costs for driving between properties, meetings, and events.
✔ Meals and Entertainment: A portion of client-related meal costs may be deductible under current IRS rules.
✔ Education and Training: Includes licensing, CE classes, and industry conferences.
✔ Health Insurance Premiums: Deduct premiums paid if you’re self-employed and not covered under a spouse’s plan.
Retirement Planning
Real estate professionals in Denver have a range of retirement plans available that can lower current tax liability and build future financial stability. Choosing the right one depends on your income level and business structure.
✔ Solo 401K Plans – Designed for self-employed individuals, offering high contribution limits and tax-deferred growth.
✔ Simplified Employee Pension (SEP) IRAs – A straightforward option for contributing a percentage of your net income.
✔ Defined Benefit Plans – Offers a fixed retirement payout and allows for large deductible contributions each year.
✔ Health Savings Accounts (HSA): Contributions are deductible, savings grow tax-free, and medical withdrawals are tax-free if qualified.
Need More Information?
Contact Presti & Naegele today for a free consultation regarding property accounting services for real estate brokers and agents in Denver.
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.
