Accounting for Real Estate Brokers & Agents in Washington D.C.
At Presti & Naegele, we provide dedicated accounting for real estate brokers & agents, offering personalized tax support for real estate professionals. Since every agent’s situation is different, our solutions are designed to keep your tax filings smooth and stress-free.
Whether you're handling rowhouse listings in Capitol Hill, working luxury deals in Georgetown, or closing transactions near Dupont Circle, real estate agents across Washington D.C. trust us to handle the details so they can focus on growing their business.
Real Estate Agents and Brokers in Washington D.C.
As a real estate agent in Washington D.C., you're considered self-employed. This classification means you're responsible for paying self-employment taxes, which include both Medicare and Social Security. And since D.C. imposes its own income tax, it's important to make quarterly estimated tax payments throughout the year.
CHOOSING THE RIGHT BUSINESS ENTITY in Washington D.C.
Legal Structure: Your business structure directly affects how you're taxed in Washington D.C. At Presti & Naegele, we assess your unique business situation and help you choose the most strategic legal setup.
✔ Sole Proprietorship – A basic structure with no legal separation between you and your business.
✔ Limited Liability Company (LLC) – Offers liability protection with flexibility in how income is taxed.
✔ Partnership – Best for agents working with one or more partners, sharing responsibilities and income.
✔ S-Corporation – Combines corporate benefits with pass-through taxation to potentially reduce your tax burden.
✔ C-Corporation – A more formal structure where the business operates independently of the owner.
Record Keeping
For agents in Washington D.C., staying on top of commissions, business expenses, and all relevant documents is vital. Our property accounting services in Washington D.C. help real estate brokers and agents keep everything organized and prepared for tax time.
That's why you need
Property Accounting Services.
Tax Deductions
Working as a self-employed agent in Washington D.C. means you’re entitled to various tax deductions. With our property accounting services, we help you identify and apply the most relevant deductions, such as:
✔ Business Expenses: Including signage, photography, marketing platforms, and software tools.
✔ Home Office Deduction: If you maintain a dedicated workspace in your home, you may qualify for deductions on rent, utilities, and more.
✔ Vehicle Expenses: Deductions for mileage and other auto-related costs tied to business use around the District.
✔ Meals and Entertainment: Business-related meal expenses with clients or colleagues may be partially deductible.
✔ Education and Training: Write-offs for real estate courses, certifications, and industry events.
✔ Health Insurance Premiums: Deduct health insurance costs if you’re self-employed and paying your own premiums.
Retirement Planning
Real estate agents in Washington D.C. can take advantage of several tax-deferred retirement planning options. These plans are excellent tools to help you build future wealth while reducing taxable income today:
✔ Solo 401K Plans – Suitable for independent agents, these plans allow high annual contributions and offer tax-deferred growth.
✔ Simplified Employee Pension (SEP) IRAs – Flexible contribution options make this a favorite for self-employed professionals in D.C.
✔ Defined Benefit Plans – A retirement plan that guarantees a set benefit amount, with tax-deferred earnings and significant contribution opportunities.
✔ Health Savings Accounts (HSA): HSAs offer three tax advantages—deductible contributions, tax-free growth, and tax-free withdrawals for eligible medical expenses.
Need More Information?
Contact Presti & Naegele today for a free consultation regarding property accounting services for real estate brokers and agents in Washington D.C..
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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