Accounting for Real Estate Brokers & Agents in Phoenix
Presti & Naegele offers personalized accounting for real estate brokers & agents, tailored specifically for professionals in Phoenix’s fast-growing real estate market. Every agent has unique tax needs, and we make sure you’re equipped with the right support to stay organized and in control.
From new builds in Desert Ridge to luxury listings in Arcadia or investment properties in downtown Phoenix, agents across the Valley rely on our services to handle their taxes with accuracy and ease.
Real Estate Agents and Brokers in Phoenix
If you're a real estate agent in Phoenix, you're classified as self-employed. This means you must pay self-employment taxes, which include Medicare and Social Security contributions. While Arizona has a state income tax, you're also required to make estimated quarterly payments to stay compliant with both state and federal obligations.
CHOOSING THE RIGHT BUSINESS ENTITY in Phoenix
Legal Structure: Your tax responsibilities in Phoenix depend on how your real estate business is structured. At Presti & Naegele, we assess your setup and guide you toward the best legal entity for your situation.
✔ Sole Proprietorship – A straightforward setup where business income is reported directly on your individual return.
✔ Limited Liability Company (LLC) – Offers personal liability protection with options for flexible taxation.
✔ Partnership – For those sharing business responsibilities and income with other agents or investors.
✔ S-Corporation – A tax-efficient entity structure that still provides liability separation.
✔ C-Corporation – A more formal setup that operates separately from the owner and has its own tax filings.
Record Keeping
With real estate activity booming in Phoenix, it’s essential to stay organized with your finances. Our property accounting services in Phoenix help agents manage records for commissions, expenses, and tax documents with ease and accuracy.
That's why you need
Property Accounting Services.
Tax Deductions
Phoenix real estate agents working as self-employed professionals can take advantage of several key deductions. Our property accounting services ensure nothing gets overlooked. Common deductions include:
✔ Business Expenses: Advertising, CRM tools, office equipment, and signage.
✔ Home Office Deduction: If you work from a designated area in your home, a portion of related costs may be deductible.
✔ Vehicle Expenses: Mileage and car-related expenses for business travel across Phoenix and nearby communities.
✔ Meals and Entertainment: Certain client-related meals and meeting costs may qualify for partial deductions.
✔ Education and Training: Real estate courses, CE hours, and industry-specific events.
✔ Health Insurance Premiums: Deductible for self-employed agents who pay for their own health coverage.
Retirement Planning
Real estate brokers and agents in Phoenix have several options for building retirement savings and reducing taxable income. Choosing the right plan can help you set aside money while maintaining tax efficiency.
✔ Solo 401K Plans – Excellent for independent agents, allowing large contributions with tax-deferred growth.
✔ Simplified Employee Pension (SEP) IRAs – A flexible option for contributing a portion of your earnings toward retirement.
✔ Defined Benefit Plans – Provides a predictable retirement benefit and allows for significant annual deductions.
✔ Health Savings Accounts (HSA): Features a triple tax advantage—deductible contributions, tax-free investment growth, and tax-free withdrawals 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 Phoenix.
For inquiries or expert guidance, contact Presti & Naegele Accounting Offices. Your success awaits!
Real Estate - Website Form
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.
