Skip to content

Real Estate Agents


Michels & Hanley are CPAs for Realtors, Real Estate Agents, and Real Estate Brokers.

The majority of Realtors, Real Estate Agents, and Real Estate Brokers in New York are being paid in their own name and filing a Schedule C attached to their personal tax returns in order to report their real estate income and expenses.  However, just about every Realtor, Real Estate Agent, and Real Estate Broker we encounter would benefit by setting up an S Corp or an LLC to operate their real estate business at a lower tax rate and with a lower audit risk.  The agents and brokers we work with save an average of $5,354 each year in tax while enjoying an audit risk that is approximately nine times lower than it was before they hired us.

Some other nuances in the real estate profession that require special accounting and tax treatment include closing gifts, properly accounting for open house expeneses, staging costs, virtual tourrs, and fees charged by the brokerage you work for.  Here at Michels & Hanley, we are intimately familiar with these elements and are equipped to help you reduce your annual tax bills.

Contact us today to find out how we can help your real estate business.

Michael Hanley, CPA
mhanley@mhcpas.com
(631) 382-3999

Brian Michels, CPA
brian@mhcpas.com
(631) 382-3999

We take care of your books for you, so you can get back to the job of running your business and generating profits.
Learn More...
We offer payroll solutions that meet your business's needs and enable you to spend time doing what you do best--running your company.
Learn More...
We offer a variety of services to help make sure that you are taking full advantage of Quickbooks' many features.
Learn more...
We're here to help you resolve your tax problems and put an end to the misery that the IRS can put you through.
Learn More...
We offer one-on-one guidance and a comprehensive financial plan that helps manage risk, improve performance, and ensure the growth and longevity of your wealth.
Learn More...

© Michels & Hanley CPAs, LLP 2021