News
Can You Deduct Your Home Office Expenses?
Most commercial real estate brokers are independent contractors with 1099 compensation. Independent contractors are essentially a small business. Operating as a business allows you the opportunity to deduct certain expenses related to the business. A common expense is your home office. The ability to deduct most of the expenses [...]
Organization Helps You Stay Focused
Most commercial real estate brokers are independent contractors with 1099 compensation. By default, you are a business operating as a sole proprietor. Thinking and acting like a genuinely separate business is crucial to your future success in this profession. As an independent contractor in real estate sales and brokerage, [...]
Building Your Team to Support You
As a commercial real estate broker, your time is precious. Not many professions offer as much potential income with time and effort. In your world, you can tell yourself, "if I work twice as hard this year, I will make more money." Not many jobs have that opportunity. This [...]
Staying Ahead of Taxes
As 1099 paid independent contractors, taxes are not withheld from your commissions. It is your responsibility to understand your tax liability and set aside a portion of your income to make these payments. Too many commercial real estate brokers are behind and are reactive to income taxes. This is [...]
Reallocating Income to Your S Corp
Most CRE brokers are independent contractors. Therefore, when you are paid via 1099, you have the choice to receive that income personally to your Social Security Number as a Sole Proprietor. Or you can form an entity to be taxed as an S Corporation and have your brokerage firm [...]
How to Better Manage Erratic Cash Flow
CRE brokers have many responsibilities as independent contractors in an eat what you kill environment. Mimicking a regularly occurring salary can help better manage cash flow in an income environment that is anything but regular and consistent. Most brokers are paid 1099 income and set up as an entity [...]
