Accounting for Real Estate Brokers & Agents in Tennessee
Presti & Naegele provides dedicated accounting for real estate brokers & agents, offering personalized tax support for professionals working across Tennessee. With each agent facing a different financial landscape, we tailor our services to help you stay organized, confident, and tax-ready.
Whether you’re working the residential market in Nashville, managing listings in Knoxville, or closing deals in Memphis and Chattanooga, real estate agents throughout Tennessee rely on us for clear, practical tax solutions.
Real Estate Agents and Brokers in Tennessee
Real estate agents in Tennessee are considered self-employed, which means you’re responsible for paying your own self-employment taxes—covering both Social Security and Medicare. Although Tennessee doesn’t have a traditional state income tax, you’re still required to submit federal estimated tax payments on a quarterly basis.
CHOOSING THE RIGHT BUSINESS ENTITY in Tennessee
Legal Structure: How your real estate business is structured in Tennessee will affect how your income is taxed. Presti & Naegele works with agents to determine the best legal entity for tax efficiency and liability protection.
✔ Sole Proprietorship – A simple structure where business income is reported on your personal return.
✔ Limited Liability Company (LLC) – Offers liability protection while allowing flexibility in how your income is taxed.
✔ Partnership – Suitable for agents working together under shared ownership and profit models.
✔ S-Corporation – A pass-through structure that may reduce tax liability while maintaining legal separation.
✔ C-Corporation – A separate business entity with its own tax filings, used in specific business structures or growth models.
Record Keeping
Keeping clean, accurate records is essential for real estate agents in Tennessee, whether you're handling multiple properties or working with first-time buyers. Our property accounting services in Tennessee help you track expenses, manage income, and stay fully organized when tax time rolls around.
That's why you need
Property Accounting Services.
Tax Deductions
Self-employed agents across Tennessee have access to a wide range of business-related deductions. Through our property accounting services, we help ensure every eligible deduction is properly applied. Common deductions include:
✔ Business Expenses: Tools, platforms, marketing services, and professional fees.
✔ Home Office Deduction: If you have a dedicated space in your home for business, a portion of your household expenses may be deductible.
✔ Vehicle Expenses: Travel to listings, open houses, or client meetings may qualify for mileage or vehicle deductions.
✔ Meals and Entertainment: Partially deductible meals tied to client interactions or business development.
✔ Education and Training: Continuing education, license renewals, and real estate development courses.
✔ Health Insurance Premiums: Deductible for agents who pay for their own insurance coverage.
Retirement Planning
Real estate professionals in Tennessee can take advantage of several retirement savings options, allowing you to lower your current tax bill while planning for the future. The right plan depends on your income level and business goals.
✔ Solo 401K Plans – High contribution limits and tax-deferred growth for independent agents and small business owners.
✔ Simplified Employee Pension (SEP) IRAs – Straightforward to manage with flexible, deductible contributions.
✔ Defined Benefit Plans – Provides a set retirement income and allows for large yearly tax-deductible contributions.
✔ Health Savings Accounts (HSA): Contributions are tax-deductible, growth is 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 Tennessee.
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.
