Susan Lehmkuhl,
Agent, Peoria, AZ
You need to be careful that you are not practicing real estate without a license which could cause you to find yourself in hot water with the state!
Susan Lehmkuhl
Associate Broker
The KUHL Team
Buy and Sell Smart Realty
623-256-7270
Susan@PhoenixRealEstateSource.com
Susan Lehmkuhl
Associate Broker
The KUHL Team
Buy and Sell Smart Realty
623-256-7270
Susan@PhoenixRealEstateSource.com
Ann Griffin,
Agent, Mesa, AZ
Tony, you need a real estate license. Check with your state Department of Real Estate and look at the requirements. Obviously, once you have your license, your commissions are tax deductible as an expense to your investment buyers. However there are stiff penalties for practicing real estate without a license- don't ignore this!
Dan Tabit,
Broker, Sammamish, WA
Tony,
The question becomes if you do it for others are you practicing Real Estate without a license? Investment Consultants may want to investigate what the State of California considers valid consultation that does not require a license and where one becomes necessary. I suspect that once you do this for a non-family member for money, you may be violating the licensing requirements, but check out the website to the California Department of Real Estate I've attached below and consider getting your license. You may find more ways to do what you do full time.
The question becomes if you do it for others are you practicing Real Estate without a license? Investment Consultants may want to investigate what the State of California considers valid consultation that does not require a license and where one becomes necessary. I suspect that once you do this for a non-family member for money, you may be violating the licensing requirements, but check out the website to the California Department of Real Estate I've attached below and consider getting your license. You may find more ways to do what you do full time.
Web Reference: http://www.dre.ca.gov/
Tina Lam, ASP, SFR,
Broker, San Jose, CA
I don't think it's all that complicated. If your brother is paying you, then that's an expense that lowers his taxable profits. That in itself is the tax benefit to your brother.
Web Reference: http://www.archershomes.com
