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Real estate agent

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Tax Tips For New Real Estate Agents

2019-05-30T10:46:45-06:00

Dan Naylor Many new agents have been regular salaried employees for most of their careers, and they know that taxes are different for independent contractors, or the self-employed, but they don’t know what the differences are. As a real estate broker and instructor, let me share some of my experience with you, but remember that if you want tax advice, you should consult a tax professional. I share my thoughts for informational purposes only. The primary difference is that when you are self-employed, you act as a business. Any expenses that you incur must be reported on a Schedule C. First [...]

Tax Tips For New Real Estate Agents2019-05-30T10:46:45-06:00

What Happens When A Broker License Expires?

2019-05-30T09:39:57-06:00

The Utah Real Estate Commission met in November to discuss some interesting ethical situations. There has been an incident where a real estate broker's license expired, and therefore all of his agents' licenses also expired. Mark Fagergren, the Director of Licensing and Education expressed that this is not an uncommon occurrence, and they are already putting new measures into place to ensure that brokers and agents are aware of their license expiration up to 45 days in advance. Usually the broker license is quickly renewed thereafter. What makes this situation unusual is that the agents were not aware of the broker's [...]

What Happens When A Broker License Expires?2019-05-30T09:39:57-06:00