Why Use Reptax?

Running your real estate business is a FULL TIME JOB. Reptax allows you to spend LESS TIME on accounting and bookkeeping and more time meeting new clients, getting listings and selling properties. You focus on making more money, we will focus on helping you KEEP MORE OF IT! Reptax is operated by professional tax advisers, IRS Enrolled Agents and CPA’s who focus on Real estate professionals! This program is ONLY FOR YOU.

REPTAX FEATURES

What it can do for you.

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A DASHBOARD VIEW OF YOUR BUSINESS IN REAL TIME

Knowing is half the battle, make the right financial decisions by always knowing how much money you owe the IRS!

TAILORED POWERFUL SOFTWARE, BUILT FOR REAL ESTATE PROFESIONNALS

We stripped out everything you don't need, and then streamlined it to fit your needs. No more stressing out last minute for quarterly payroll or end of year profit and loss reports, Reptax makes tax time stress free

HASSEL FREE EXPENSE TRACKING

Reptax tracks all income in and easily categorizes all transactions out, eliminating the hardest part … data entry, giving you more time to focus on your core business.

TAX DEDUCTABLE

REPTAX is fully tax deductible. Together let’s beat the IRS at their own game.

SIMPLE TO USE

No need for spending hours learning new software. The Reptax platform makes it simple to view your financials, update information, track your mileage and receive the support you need.

LOG TRIPS AS YOU DRIVE, HANDS-FREE

With Reptax mileage tracking you’re in the driver’s seat to deduct every mile. Swipe your screen for every business trip and reduce your taxable income.

MULTIPLE BANKS CONNECTED.

Reptax can connect with over 10,000 banks.

Frequently Asked Questions

The IRS views an independent contractor as an individual who is responsible for earning their own income and therefore responsible for paying their own taxes. Independent contractors are essentially nonemployees that are in business for themselves and do NOT have guaranteed wages or a salary. An employee is an individual who works for a company and is under contract where they are paid a certain wage or salary for their services provided to the company.
LLC stands for Limited Liability Company. A Limited Liability Company is a state level entity which provides limited liability to the owner of the company, safeguarding their personal assets from business-related liabilities. There's no such thing as an LLC tax structure. When one person owns or operates an LLC, the IRS views it as a disregarded entity and the individual files its taxes the same way as an Independent Contractor would on a schedule C.
An S corporation is a type of corporation, the S stands for subchapter. S corporations are not taxed at the corporate level instead, they are considered pass through entities in which any profit or loss from the S corporation are passed through to the owner’s personal tax return.
Self-employment tax is a tax that is levied on Independent Contractors and Single Member LLC's (that have NOT elected to be treated as a corporation, which are considered disregarded entities.) Self-employment tax is divided into two parts Medicare and Social Security. The total self-employment tax is 15.3% representing half from the employee side and half from the employer side. Being self-employed you are responsible for both halves.
LLC's and corporations are both state level entities, the difference is LLC's have no individual tax structure with the IRS, whereas Corporations do.
The LLC owner known as a member, can choose the LLC’s tax structure. A single member LLC can be taxed as a sole proprietor, or it could also be taxed as an S corporation or C corporation. If the LLC has more than one member it could be also taxed as a partnership.
Having an LLC or corporation has no bearing on your personal filing structure so, even though you have an LLC or corporation, you may still file a joint tax return with your spouse.
All real estate professionals want to pay less taxes, to do this you must have good record keeping. Recordkeeping will provide a clear understanding what of your profits and losses are in your business and in turn give you the ability to plan accordingly throughout the year. Tax planning and implementing certain tax strategies can significantly reduce your taxes saving you thousands of dollars.
A tax bracket is the range of incomes taxed at given rates which typically differ depending on filing status. Tax brackets are progressive so each level of income is taxed at a different rate.
The profit and loss statement is the summarized information of your income and expenses. This can only be obtained by performing record keeping. Based on your business structure, these statements are generated quarterly or on an annual basis to find out what you net income or loss is.
As a real estate professional, your income is based on your sales and or property management income. Being that you're paid on the income you earn from the service that you provide, you are considered an independent contractor and therefore you are viewed by IRS as a business owner and NOT an employee.
If you're state allows you to form an LLC or corporation such as a PA or LLC, then YES you may certainly receive payment from those entities. If your state does NOT allow you to form these structures styles for your real estate business, then you cannot.
Properly tracking your mileage for taxes purposes can be the difference between you receiving the maximum deduction for your mileage or missing out on the amount you are entitled to. According to the IRS, keeping a logbook is the most effective way to ensure that you have proof in the event of an audit. This can be by hand or electronically. Taxpayers can choose mileage deduction or actual deductions for auto expenses.
Tax preparation is taking information after the year is over, entering it into a tax return, then submitting that tax return to the government.
Tax planning unlike tax preparation happens throughout the year and it utilizes different strategies to legally reduce your taxes. Tax planning requires research and understanding of the tax code and the ability to identify the various strategies that can be specifically utilized to take advantage of each taxpayers unique situation.