Taxes for Realtors

As a Realtor, you are an independent contractor. No income taxes are taken out of your commission check. 
 
Keep track of all your Real Estate expenses as they will be deductible; ie NVAR, MLS, E&O, direct mail, fliers, sponsorships and marketing.
 
The rule of thumb is to set aside about 30% of each commission check.
 
This has been an important Training in a Minute .
Disclaimer: Always consult a Tax professional because Keith Hartke is not a tax advisor. 
Keith