I’m considering getting my real estate license in Texas. Can anyone advise me on the tax situation for an Agent/Investor. Are the rules more complicated? Higher taxes? What are some of the rules? What is a good website to consult?
The rules are the same for a real estate agent as they are for any other self-employed individual, so are the taxes.
Dear Dave,
Thank you very much for taking the time!!
check with your tax advisor, but you may have additional business write offs e.g. desk fees (if any), dues (including Realtor MLS, Key Cards), on the other hand if you are with a brokerage that helps with advertising fees, you may benefit that way, although in the end your broker will make money off of your investments.
Wendy,
Thank you for your great info! 