Tax Planning For Realtors
Byck Financial Services, Inc has extensive experience working with commissioned professionals. We have helped several Realtors save money by paying substantially less taxes by helping them structure their business in the most tax efficient manner possible.
In 2014 we introduced the well received, Realtor Tax Savings Initiative. This special program was created to help Realtors get a better understanding of the different business structures available to them.
The Realtor Tax Savings Initiative is a turnkey program that provides Realtors with everything they need to start saving money immediately.
The turnkey program includes:
Incorporation of the Realtor’s business – Creating an S-Corporation via using a Professional Corporation (P.A.) structure.
Salary & Payroll Tax Filings – The Realtor will be an owner and employee of their corporation. They will be taking a reasonable salary that will meet IRS rulings and will still allow for the Realtor to reduce their exposure to costly Self Employment taxes. This strategy will allow for a significant reduction in taxes paid by the Realtor.
Filing of Corporate Tax Return 1120-S – Being the Realtor will be operating as a Corporation, a corporate tax return (1120-S) will be required to be filed. Profits or losses from the corporate tax return will be passed through to the Realtor’s personal tax return via a K-1. Of course these profits/losses will be net of ALL expenses (including the salary they take if needed).
Filing of Personal Tax Returns – We provide the Realtors with tax preparation and filing of their personal tax returns which of course includes the (K-1, W-2 and all other tax schedules, personal deductions, credits and any other income.)
The Realtor Tax Savings Initiative not only will educate Realtors about income taxes, tax saving strategies and efficient planning, it also provides significantly discounted services which would otherwise not be available.
Click on the link below to download the Realtor Tax Savings Initiative.
Please complete the form below if you are interested in taking advantage of the 2014 Realtor Tax Savings Initiative Program