Accounting for Real Estate Brokers & Agents in Miami
Presti & Naegele offers focused accounting for real estate brokers & agents, delivering tailored tax support for professionals navigating the real estate market. Every agent’s tax picture is different, and our approach helps ensure you stay organized and compliant.
From high-rise condos in Brickell to beachfront listings in South Beach or luxury properties in Coral Gables, real estate agents in Miami rely on our experience to handle the tax side of their business with clarity and ease.
Real Estate Agents and Brokers in Miami
In Miami, real estate agents operate as self-employed individuals rather than employees. This means you’re responsible for your own self-employment taxes, which include both Social Security and Medicare. While Florida doesn’t have a state income tax, you're still required to manage and submit your federal estimated tax payments throughout the year.
CHOOSING THE RIGHT BUSINESS ENTITY in Miami
Legal Structure: How your income is taxed depends on your business’s structure. We assist Miami real estate professionals by evaluating their situation and suggesting the most strategic legal entity.
✔ Sole Proprietorship – The most direct setup where your business and personal finances are connected.
✔ Limited Liability Company (LLC) – Offers legal protection and flexibility in how taxes are filed.
✔ Partnership – Ideal for those working as part of a team, with shared business responsibilities.
✔ S-Corporation – Combines liability protection with the benefit of pass-through taxation.
✔ C-Corporation – A more formal structure with separate legal and tax treatment, suited for larger or expanding operations.
Record Keeping
Real estate brokers and agents in Miami need to keep accurate records of income, commissions, expenses, and relevant tax documents. Staying organized makes all the difference in reducing stress and improving financial clarity. That’s where professional property accounting services in Miami come in.
That's why you need
Property Accounting Services.
Tax Deductions
As a self-employed agent in the Miami market, you have access to several tax deductions that we help manage through our property accounting services. Some of the most common include:
✔ Business Expenses: Anything from staging costs and digital ads to office equipment and service fees.
✔ Home Office Deduction: If you maintain a dedicated workspace at home, a portion of household costs can be deducted.
✔ Vehicle Expenses: Deduct either mileage or actual vehicle expenses for property tours, client meetings, and more.
✔ Meals and Entertainment: Deduct a portion of eligible client-related meals and business activities.
✔ Education and Training: Expenses from real estate courses, workshops, or continuing education.
✔ Health Insurance Premiums: Self-employed professionals can deduct qualifying health insurance costs.
Retirement Planning
If you’re a real estate broker or agent in Miami, retirement planning can be just as strategic as your business. There are several tax-efficient retirement plans to help you build wealth for the long run:
✔ Solo 401K Plans – A great option for self-employed Miami agents, allowing high contribution limits and tax-deferred growth.
✔ Simplified Employee Pension (SEP) IRAs – Perfect for solo professionals or small teams, with flexible contributions and deferred taxes on earnings.
✔ Defined Benefit Plans – Structured to deliver fixed retirement payments, and contributions grow tax-deferred while allowing sizable deductions.
✔ Health Savings Accounts (HSA): Offers a triple tax benefit—deductible contributions, tax-free growth, and tax-free withdrawals for medical expenses.
Need More Information?
Contact Presti & Naegele today for a free consultation regarding property accounting services for real estate brokers and agents in Miami.
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!
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