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Updated about 2 years ago on . Most recent reply

User Stats

66
Posts
28
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Lisa Wright
  • Real Estate Agent
  • Metro Detroit
28
Votes |
66
Posts

First year Realtor taxes

Lisa Wright
  • Real Estate Agent
  • Metro Detroit
Posted

Do you guys think it's something I can DIY through turbo tax?  Or do I need to hire it out?  

Tell me what you know.  What should the price range be if I hire it out?   I saved a good portion of my profits for taxes.  But 1099 all year this time around.  Thank you. 

Most Popular Reply

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3,849
Posts
3,155
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
3,155
Votes |
3,849
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Ashish Acharya
#2 Tax, SDIRAs & Cost Segregation Contributor
  • CPA, CFP®, PFS
  • Florida
Replied

You might need to get an S-Corp if you are making more than a certain amount. Your tax advisor can help you determine when you need that. 

Depending on how much you are making, you need to optimize your payroll for S-corp. This is no DIY. 

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