Real Estate

Bookkeeping for real estate agents, property managers, and investors. We handle commission splits, rental property tracking, and the mess of 1099s that come with real estate.

The Industry

Real estate bookkeeping is complicated because every deal structure is different. Commission splits, referral fees, transaction coordinators, broker fees, marketing expenses. Rental properties have their own issues with security deposits, maintenance reserves, and tracking income and expenses by property. Most real estate professionals mix personal and business transactions and create a mess.

We work with real estate agents, brokers, property managers, investors, house flippers, and small landlords. We know how to track commission income correctly, handle rental property accounting by unit, manage security deposits as liabilities, and prepare the mountain of 1099s real estate businesses generate.

Who We Serve

Real estate agents and brokers, property management companies, real estate investors, house flippers, small landlords with multiple properties, and other real estate professionals throughout DFW.

What Makes Us Different

We understand commission accounting, rental property tracking by unit, security deposit liability accounting, and 1099 requirements for real estate transactions. We know how to separate personal and investment property finances.

The Services

Real estate businesses need bookkeeping that handles commission structures, tracks properties separately, and manages the unique compliance requirements of the industry. Here’s what we handle.

Commission and Fee Tracking

We track gross commission, broker splits, referral fees, transaction coordinator costs, and net commission by deal. You know exactly what you made on each transaction after all the splits and fees.

Property-Level Accounting

For investors and landlords, we track income and expenses by property. You know which rentals are profitable, which ones drain cash, and can make informed decisions about buying, holding, or selling.

Security Deposit Management

We properly account for security deposits as liabilities, not income. Deposits are tracked by property and tenant. When deposits are returned or applied to damages, the accounting is correct and defensible.

1099 Preparation

We track and prepare 1099-NEC forms for agents, contractors, and service providers. 1099-S forms for property sales are documented. You stay compliant with IRS reporting requirements.

The Problem

Most real estate professionals mix personal and business expenses in the same accounts. They treat security deposits as income and create tax problems. Commission splits are not tracked properly so they cannot reconcile what they are owed versus what they received.

Rental property owners often lump all properties together. They cannot tell which rentals make money and which ones lose money. When it is time to decide whether to keep or sell a property, they have no data to base the decision on.

Mixed Personal and Business

Using the same accounts for personal real estate investments and business transactions creates chaos. You cannot separate deductible business expenses from non-deductible personal costs. Tax returns become guesswork.

Security Deposit Mistakes

Recording security deposits as income means you pay taxes on money that is not yours. When you return deposits, the refund hits as an expense in a different year and your books never reconcile properly.

No Property Profitability

When rental income and expenses are not tracked by property, you have no idea which units make money. You might be holding onto properties that lose money every month without realizing it.

Commission Reconciliation Problems

Without tracking commission splits and fees by transaction, you cannot verify broker statements. Errors and missing payments go unnoticed. You might be owed money but have no way to prove it.

The Outcome

Your commission income is tracked correctly with all splits and fees documented by transaction. You can reconcile broker statements and catch errors or missing payments. Tax reporting is accurate because gross commissions and business expenses are properly categorized.

Rental properties are tracked individually so you know which ones perform well and which ones drain cash. Security deposits are handled correctly as liabilities. Property-level reporting helps you make informed decisions about your portfolio.

Better Portfolio Decisions

Property-level profitability data shows you which rentals to keep, which to sell, and where to invest next. You can calculate actual returns including all costs, not just what you hope properties are making.

Clean Tax Returns

Proper separation of business and personal transactions, correct security deposit accounting, and accurate commission tracking mean your tax returns are clean. You maximize deductions without risking audit issues.

DFW's Trusted Bookkeeping Firm