Running your own business is hard work, especially when you’re focused on helping other people find their dream homes. The last thing you need hanging over your head is the worry of small business bookkeeping and accounting. Knowing the best financial practices for realtors, real estate agents, real estate brokers and property managers can help you to do things right the first time and end up saving you time, money and a headache.
These 10 articles will give you a great place to start and we’re always here to help if you have any more questions about your business.
The line between business and personal are easily blurred, especially when you use things like your car or cellphone for both. Find out the best practices for separating your personal expenses and your business expenses.
Do you know the difference between a general partnership, limited partnership and a limited liability company? Find out which is the best fit for you and how to go about setting it up.
Running your own business is expensive; make sure you know how to get the deductions you are entitled to. When you know what deductions to look for you can make the best use of your time and money.
The best way to get your name out there as a realtor is through advertising. You know you can deduct your business cards and Internet advertisements, but what about giveaways or promotional products?
You have a lot more vehicle deduction options than just counting milage from driving clients around. Find out the best ways to get the most money for your miles.
Bookkeeping and accounting are one of the most important aspects of running your own business. Do you know the difference between the two and are you keeping up?
One of the best parts of being self employed is being able to work as much or as little as you want; however, making sure you’re taking out your own taxes isn’t as alluring. Make sure you pay Uncle Sam right the first time around.
How Do I Figure My Estimated Quarterly Taxes? For Realtors, Real Estate Brokers, and Property Managers
The IRS considers realtors, real estate agents, brokers, and property managers as self-employed, and therefore; are subject to pay quarterly taxes. Do you know how to calculate them?
While things with your real estate partner may seem to be going great right now you never know what life is going to throw at you. Take time to plan an exit strategy for both your benefits.
As your business grows and develops you should have a plan that helps you assess who could become a leader within your partnership. Consider all who will be affected by your decisions.