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Benjamin Franklin once said, “In this world, nothing is certain except death and taxes”— and seasoned real estate professionals will likely agree. Even if a real estate agent works for a firm or brokerage, the IRS considers them to be the sole proprietor of their own business, so filing taxes each year may feel a bit harrowing.
The good news is that many business expenses are deductible, and by paying quarterly, you can stay ahead of IRS deadlines. We answered some common questions from real estate agents so you can avoid common mistakes and manage your business like a tax pro!
Keep reading: Quarterly Tax Tips for Real Estate Agents
