Accounting for Real Estate Brokers & Agents in Seattle
Presti & Naegele delivers specialized accounting for real estate brokers & agents, offering tailored tax support that fits the needs of Seattle’s real estate professionals. Since every agent's tax situation is different, our services help streamline the process and keep your business in good standing.
From selling homes in Capitol Hill to managing listings in Ballard or West Seattle, real estate agents across the Seattle area rely on us for expert guidance that keeps their tax obligations clear and manageable.
Real Estate Agents and Brokers in Seattle
If you're a real estate agent in Seattle, you're classified as self-employed. That means you're responsible for your own self-employment taxes, including both Social Security and Medicare. While Washington doesn't collect state income tax, federal estimated tax payments are still required throughout the year to stay compliant.
CHOOSING THE RIGHT BUSINESS ENTITY in Seattle
Legal Structure: Your business structure determines how you're taxed in Seattle. At Presti & Naegele, we assess your specific situation and guide you toward the most appropriate and tax-efficient structure.
✔ Sole Proprietorship – A simple format where your business income is reported directly on your personal return.
✔ Limited Liability Company (LLC) – Offers personal liability protection with flexible tax filing options.
✔ Partnership – Best for agents sharing business responsibilities and profits with one or more individuals.
✔ S-Corporation – A pass-through entity that can help reduce your overall tax liability.
✔ C-Corporation – A separate entity with its own tax filing requirements, ideal for larger business models.
Record Keeping
In Seattle’s competitive real estate market, keeping clean, accurate records of your income, expenses, and tax documents is crucial. Our property accounting services in Seattle help real estate brokers and agents stay on top of their financials without the added stress.
That's why you need
Property Accounting Services.
Tax Deductions
Self-employed agents in Seattle are entitled to a wide range of business deductions. Through our property accounting services, we help you make the most of these, including:
✔ Business Expenses: Advertising costs, office supplies, software tools, and service subscriptions.
✔ Home Office Deduction: If you maintain a designated workspace at home, part of your household costs may be deductible.
✔ Vehicle Expenses: Whether you're driving across Seattle or visiting listings in surrounding neighborhoods, travel costs tied to your business may be deductible.
✔ Meals and Entertainment: Partial deductions are available for meals related to client meetings or business events.
✔ Education and Training: Real estate license renewals, CE classes, and professional development expenses.
✔ Health Insurance Premiums: You may deduct premiums if you're self-employed and pay for your own coverage.
Retirement Planning
Seattle real estate agents can take advantage of several retirement planning options that support long-term savings while reducing taxable income. These plans offer flexibility based on your income and business model.
✔ Solo 401K Plans – Allows high contribution limits and tax-deferred growth, ideal for independent agents.
✔ Simplified Employee Pension (SEP) IRAs – A simple plan with flexible, deductible contributions based on your earnings.
✔ Defined Benefit Plans – Offers a fixed retirement payout, with room for large tax-deductible contributions.
✔ Health Savings Accounts (HSA): Contributions are deductible, investments grow tax-free, and withdrawals for qualified medical expenses are also tax-free.
Need More Information?
Contact Presti & Naegele today for a free consultation regarding property accounting services for real estate brokers and agents in Seattle.
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.
