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Tax Experts Since 2008

ERC Tax Credit for Real Estate

Do you own a real estate agency impacted financially by the COVID-19 pandemic? The Employee Retention Tax Credit (ERC) is available to the real estate industry for businesses including:

  • Real Estate Agencies

  • Property Management Firms

  • Real Estate Appraisers

  • Rental Businesses

  • Real Estate Photographers & Videographers

  • Real Estate Marketing Agencies

 

Qualifying real estate businesses should apply as soon as possible to receive credit using our team of certified ERC specialists at Five Star ERC Experts. There is still time before the deadline for ERC but applying as soon as possible will help you receive your much needed Coronavirus aid faster.

Showing a Property

ERTC Qualifications for Real Estate

If you qualify for ERTC for the 2020 or 2021 tax year, there is still time to apply. To apply, real estate businesses must have paid qualified wages to W-2 employees. These employees include but are not limited to:

  • Leasing agent

  • Foreclosure specialist

  • Leasing consultant

  • Property manager

  • Title examiner

  • Mortgage processor

  • Escrow officer

  • Real estate appraiser

  • Home inspector

  • Leasing manager

  • Property developer

  • Mortgage broker

  • Real estate agent

The above employees, and any employees being used for the ERTC application, must be W-2 employees only.

ERTC Applications for Real Estate Businesses

To apply for the ERTC, it is best to enlist the help of an ERC specialist. Our team of ERC specialists at Five Star ERC Experts consists of certified tax attorneys and tax specialists with experience helping businesses deal with applications to the IRS. There are other ERC mills claiming to help real estate businesses apply for the ERTC that do not qualify. With Five Star ERC Experts, you can ensure that your application is in the right hands to get the best chance at faster approval from the IRS.

Calculating Qualified Wages for Real Estate

Qualified wages are W-2 wages paid to employees during either the 2020 or 2021 tax year. The wages paid can include health expenses paid to employees. Even if your real estate business was temporarily shut down during the pandemic, paid wages may still be eligible.
 
For example, you own a real estate agency that suspended operations during March 2020 and April 2020. Real estate assistants, agents, brokers, and all other personnel in the office were required to stay home during this time. You still paid wages to these employees even though they could not work. These wages would qualify for the Employee Retention Credit.
 
Calculate your ERC tax credit to determine how much you could earn per real estate employee before applying.

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