Accounting for Real Estate Brokers & Agents in Nashville
Presti & Naegele delivers tailored accounting for real estate brokers & agents, with services designed to meet the specific tax needs of real estate professionals. Each agent’s situation is different, and our team ensures everything is handled clearly and accurately.
From showing homes in East Nashville to managing listings in The Gulch or working with clients in Belle Meade, Nashville real estate agents turn to us for trusted tax support that keeps them focused on what they do best—selling homes.
Real Estate Agents and Brokers in Nashville
As a self-employed real estate agent in Nashville, you’re responsible for covering your own self-employment taxes, which include Social Security and Medicare contributions. And although Tennessee doesn’t collect a broad state income tax, federal estimated tax payments are still required regularly throughout the year.
CHOOSING THE RIGHT BUSINESS ENTITY in Nashville
Legal Structure: The way you structure your real estate business in Nashville will influence how you're taxed. Presti & Naegele helps agents evaluate their options and select the right business entity for long-term success.
✔ Sole Proprietorship – A simple structure where your business income is reported directly on your personal tax return.
✔ Limited Liability Company (LLC) – Offers flexibility and limited liability while keeping tax treatment simple.
✔ Partnership – Works well for those co-owning their real estate business and sharing profits and responsibilities.
✔ S-Corporation – Allows business income to pass through to your personal return, often with potential tax savings.
✔ C-Corporation – A separate legal entity with its own tax filings, best suited for agents building a more complex business.
Record Keeping
For agents in the Nashville real estate market, keeping accurate financial records is essential—whether it's for commissions, expenses, or tax documentation. With our property accounting services in Nashville, we help brokers and agents stay organized and ready for tax season.
That's why you need
Property Accounting Services.
Tax Deductions
Nashville real estate agents operating as self-employed professionals can take advantage of numerous deductions. Our property accounting services help you apply these effectively. Common deductions include:
✔ Business Expenses: Everything from advertising costs to real estate software and supplies.
✔ Home Office Deduction: If you work from a home office, you may be able to deduct a portion of your rent, utilities, and maintenance.
✔ Vehicle Expenses: Claim mileage or vehicle-related costs when driving for business in and around Nashville.
✔ Meals and Entertainment: Deduct a portion of client-related dining or meeting expenses.
✔ Education and Training: Write off course fees, continuing education, and real estate certifications.
✔ Health Insurance Premiums: Self-employed agents can deduct what they pay for their own health insurance coverage.
Retirement Planning
Planning for retirement is an important step for Nashville real estate brokers and agents. There are several tax-advantaged options that can help you set money aside while reducing your taxable income.
✔ Solo 401K Plans – Designed for self-employed individuals, these plans offer higher contribution limits and tax-deferred savings.
✔ Simplified Employee Pension (SEP) IRAs – Great for solo agents, allowing for flexible, deductible contributions.
✔ Defined Benefit Plans – Offers fixed retirement payouts with the ability to make large, deductible contributions.
✔ Health Savings Accounts (HSA): Contributions are tax-deductible, grow tax-free, and can be withdrawn tax-free for qualified medical expenses.
Need More Information?
Contact Presti & Naegele today for a free consultation regarding property accounting services for real estate brokers and agents in Nashville.
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.
