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It's true that they would (really) only be paying taxes on the amount they earn, but that's still only calculated after the 30% (or whatever it is) split with t
by notaustinpowers 3y ago
It's true that they would (really) only be paying taxes on the amount they earn, but that's still only calculated after the 30% (or whatever it is) split with the brokerage.
The team split, MLS fees, photography, etc are part of the net income. So maintaining a steady 25% of the total commission allows for some wiggle room just in case.
- prepend 3y agoThat’s going to be way too much held over. If I have $4k in income then taxes will be 20-50% of that. The realtor does not pay the taxes of the brokerage. And all fees are not part of net income and not taxable. They are part of gross income and will not be taxed.