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The best accounting software for real estate agents.
Realtyzam is a super easy accounting / bookkeeping software built exclusively for real estate agents.
If you've been looking for a simple tool to track your expenses, log your mileage, and store your receipts, then you're going to love Realtyzam.
Accounting that's crazy easy.
Here's how easy it is...you simply enter (or import) your income and your expenses and Realtyzam will automatically calculate all your tax deductions and instantly generate the report your accountant or tax guy needs to file your quarterly and / or annual taxes.
Ditch the shoe box.
Realtyzam let's you upload a receipt for any expense. It automatically stores a digital copy of the receipt and it links it to that expense.
If you ever need to see the receipt again, simply click on the expense and boom...there's your receipt.
And you can do it all right from your phone with our free mobile app.
Write off your mileage.
Realtyzam gives you an IRS compliant mileage log that automatically calculates your mileage write off. At over 50 cents per mile it can easily add up to thousands of dollars every year.
Plus, with our mobile app you'll be able to log your mileage right on your phone.
Never miss a tax write off again.
Realtyzam tells you when you've missed an important tax write off like the home office deduction, which can be as much as $1,500 per year.
It's probably the #1 overlooked tax deduction that almost every real estate agent qualifies for, even if you have an office at your brokerage.
Type less. Do More.
Realtyzam gives you the option to import expenses from your bank accounts, credit cards, and even your own Excel spreadsheets.
This can be a huge time saver, especially if you need to get all your expenses together at the last minute.
Track your profit and expenses on any listing or buyer.
With Realtyzam you can track your expenses, your broker fees, and your actual profit on each listing or buyer.
Realtyzam even gives you a complete breakdown of your sales, including your average commission, average expenses, buyer and seller conversion rates, which lead sources generate most of your sales, and so much more.
Easy. Easy. Easy.
We said it three times, because it's that big of a deal. We created Realtyzam with the idea that any agent could pick it up and instantly start using it. In fact, the #1 thing that our users tell us is that they love how easy it is to use.
"I love my Realtyzam. You open it up and you just know how to use it. I don't know, it just makes sense."
- J. Bernice (via feedback survey)
Try it for free.
Realtyzam is 100% free to use for 30 days - no credit card required.
Use it as much as you want for free for the first 30 days. If you like it after 30 days, then you can select one of our paid plans. If not, no big deal, you don't need to do anything. Your account will automatically go inactive.
If you're just starting out in real estate or just getting back into it then you'll love this...after the first 30 days, Realtyzam is still free to use until you sell 5 properties or log $10,000 of income and expenses. It's our way of helping you out while you get started.
Give it a try today and you'll see why so many real estate agents love us.
No credit card
$10 per month
cancel at anytime
Accounting / Bookkeeping for Real Estate Agents
Accounting / bookkeeping as a real estate agent
Most people cringe when they hear the word "Accounting". No one likes to do it, but unfortunately, as an independent real estate agent, you have to. Accounting (also called bookkeeping) can actually be fairly simple if you have a good system for categorizing your income and expenses correctly. The problem is that most real estate agents (and most self-employed professionals) don't know the IRS rules for categorizing and reporting certain types of expenses.
Why real estate agents should use accounting / bookkeeping software
If you're an independent real estate agent, using an accounting program to track your income and expenses (even if it's not Realtyzam) is a must. Accounting software, especially those that are specifically designed for real estate agents, can help you save big $$$ on your taxes. Not to mention, help you avoid common mistakes when reporting certain types of expenses. For example, most people don't know that you can only deduct 50% of your expenses for meals and entertainment. Or that you can deduct $.56 per mile for any business related driving, including showings, listing meetings, training, market research, etc regardless of the actual cost of gas. However, the IRS requires that you keep a detailed log of your travel activity, which Realtyzam does for you.
Why every real estate agent needs a good accountant
Millions of people file their taxes each year using do-it-yourself tax programs that are relatively inexpensive and easy to use. However, for real estate agents this can be a big mistake for many reasons. A good accountant will help you maximize your tax deductions, provide financial guidance, and help you plan for the future. There are so many little known tax benefits for self employed professionals like real estate agents. A good accountant can help you take advantage of these. We recommend that every real estate agent ask their accountant the following questions:
How to find a good accountant
Like in most professions, there are good accountants and not so good accountants. Picking one that will guide you through the financial maze of being self employed is the key to making your life easier (and you just might learn a lot along the way). When you find a good one, they're worth their weight in gold! Here are a few tips on how to pick a good accountant:
Tax Deductions for Real Estate Agents
What if I haven't had my first sale yet?
Many real estate agents think that they cannot deduct their expenses if they haven't had a sale yet. This is a common misconception, and it can cost you a lot of green! Your real estate agent expenses are filed on a separate form called a Schedule C and can lower your overall taxable income, including income from another job.
What types of expenses can I deduct?
Just about every expense you have that is related to the cost of you doing business as a real estate agent can be deducted. Here are the different types:General Business Expenses – These are things like office supplies, advertising, business cards, interest, taxes, licenses, training, etc.Personal Mileage – Every time you drive your personal vehicle to a showing, listing meeting, conference, training seminar, to the store to buy office supplies, or any other function where the main purpose is related to operating as a real estate agent can be deducted at the Federal Standard Mileage rate (currently $.56 per mile for 2014), regardless of what your actual cost of gas is. This can add up quickly, since a majority of your time will be spent driving to/from showings.Meals & Entertainment – You can deduct 50% of the cost of meals and entertainment. There are certain rules that apply though. For example, if you eat by yourself and are not "out of town", then you cannot deduct your meals. So basically, you can't drive to the local fast food joint for lunch when you're by yourself and call it a "business expense". Now if you are out of town on a showing or if you go the local fast food joint with another business associate, you can deduct the cost (but always subject to the 50% rule). Here is another reason, why having a good accountant is a must. They can help you when you're not sure if a particular meal or entertainment expense qualifies.Home Office Expense – If you use part of your home to conduct business, you can deduct a pro-rated portion of your expenses on your taxes as a Home Office Expense. Starting in 2013, the IRS now allows a simplified method for taking this deduction where you multiply the size in square feet of your home office area times the IRS rate ($5.00 per sq. ft. in 2014) to calculate the amount of the deduction. The traditional method is still available, but comes with some huge drawbacks like the requirement to recapture depreciation later on. Realtyzam not only calculates your home office expense, but also reminds you to take the deduction if you haven't recorded it for a given tax year.
Paying Self Employment Taxes
What is self employment tax and how does it apply to real estate agents?
Almost all real estate agents are considered self-employed for tax purposes. If you filled out a W-9 form when you first started with your broker, or if you get a 1099 form at the end of the year, then you are considered self-employed and are subject to self-employment taxes. This means that your net income (income - expenses) is subject to the Federal Self-Employment tax of 15.3%.
Do I have to make estimated tax payments
When you are considered self-employed by the IRS, they make you pay your taxes quarterly (because there is no employer withholding them for you). You estimate your net income for the year (income - expenses) and your corresponding estimated tax liability, divide it by 4, and pay that amount each quarter. You pay (or get refunded) the difference between the estimated and actual amount when you file your tax return at the end of the year. Estimating your tax liability, can be tricky because there are so many factors involved, which is another reason that you need to find a good accountant. They can help you avoid any IRS penalties and fees incurred for underestimating your tax payments.
Q:Can I use Realtyzam for my entire brokerage and is the price the same?
Yes and yes. The only case where it wouldn't work for an entire brokerage is if you have W2 employees. Realtyzam does not have the payroll tax functions required for direct employees.
Q:Do I have to pay extra to import transactions from my bank account or credit card?
No. It's completely free to import your data.
Q:Can I enter data from prior years?
Yes. We actually encourage it!
Q:What if I have questions?
We're here to help. All of our customer support is done via email and most questions during normal business hours are answered within 2 hours (usually less in most cases). Actually, our users rave about how great our customer support is.
Q:Do you have an app?
Yes, for Android and Apple. It's free too.
Q:Are their setup fees or cancellation fees?
Absolutely not. No hidden fees whatsoever!
Q:Where is your tech support based out of?
All of our tech support is based out of the U.S.
Q:How do I get all my data if I stop using the site?
We will happily email you all of your data in an Excel format at no charge.
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