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What does the IRS allow as an acceptable percentage of total income as a deduction for meals and entertainment for a broker?
Wiki User
∙ 14y ago
There is no accwptable percentage. You must be able to substantiate each amount...what triggers an audit...lord knows..probably not 1 thing...and of course many are entirely random.
Wiki User
∙ 14y ago
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What does it mean for rent broker owned?
It just means that the place that is for rent is owned by a real estate broker. They have to tell you that it is broker owned.
Which painter was sailor and a stock broker?
Paul Gauguin was first a sailor and then a stock broker in the city of Paris. He later became a painter, but it was actually his third choice when it came to careers.
Who was Achille Degas?
Edgar Degas' brother. He was a cotton broker in New Orleans.
Did Paul Gauguin get an education?
Of course he did. He became a stock-broker, first in France, then in Denmark.
How did Paul Gauguin get famous?
He was a stock-broker, first in France, then in Denmark.
What percentage of a real estate agent's commission typically goes to the broker?
the commission belongs to the broker not the agent; question should read "WHAT PERCENTAGE OF THE BROKERS COMMISSION GOES TO THE AGENT" It varies from brokerage to brokerage, depends upon the broker -agent contract, could be 50% or less or could be a flat fee.
What is the average salary real estate broker?
Generally realtors are commissioned sales people. The broker makes a percentage of his sales staff's income. This obviously varies by quite a bit.
Can a real estate broker give a percentage of his commission at closing to a non real estate license?
The answer to this depends on the state in which you live. Often times a broker will give a small percentage of commissions to an assistant for duties performed and that is fine. But in some states a license is required to received an money associated with a commission.
What is the role of a loan broker?
He may represent either party, and he does not take possession of goods or property or deal on his own account. The broker receives a fee or commission from one or both of the parties that is usually based on a percentage
What is net listing in real estate?
A net listing is an agreement between the seller of a home and the broker entrusted by the seller to find a buyer. In most listing agreements, the broker is entitled to a percentage of the selling price as his commission.
What is the percentage that a real estate agent charges on a house sale?
Although percentages are usually set by the market, this transaction largely depends on the agent and the agent's broker, if applicable. In most real estate deals, the percentage is split between four different people including:the listing agenttheir managing brokerthe buyers agentand their managing brokerAccording to Realtor.com, "The broker determines how its own agents will be compensated. Agents are usually compensated on what is called a "commission split," meaning that a broker will get a percentage of the commissions that an agent brings in the door. Traditionally, brokers charge 6 percent, although 5 percent is also common. Agents then receive a portion of the commission from their broker." The percentage is usually between 1 and 2 percent.
Who does a real estate broker generally work for?
In most states there are 2 types of licensed agent. The first is a salesperson and the next is a broker. Sometimes there is a third, that being a managing broker or broker of record. There has to be a broker in charge of an office where agents work and that broker is over and takes responsibilty for all the agents he or she sponsors. The that broker may be the actual owner of the office and agency or may be empolyed by the owners who may or may not be licensed. That broker may be paid a salary by the owner with or without employment benefits, or may work purely for a percentage split for the income brought into the office by the other agents or any variation in between. The broker might also go out and wok as an agent himself though that is not usual in larger offices. It is also possible in most states for one person to be a broker owner by herself as a sole broker owner with no agents working for her. This has the advantages for the broker to be able to keep all the income without splitting with the office or broker as in most cases. A brokers lic. exam is contains about 70% of the salespersons exam and is quite straight forward to obtain.
How much does a broker earn?
Brokers earnings vary.Much of this depends on the type of broker and what they are brokering.If someone brokers large ticket items their earning will be much higher than one who brokers lower ticket items.There are many types of brokers. Each pays the broker in a fee or percentage of the transaction.Money brokers are known to make high income amounts. They are not however the exclusive broker earners.Most brokers earn high returns for their invested time.
What is a e broker?
e-broker
What is E-Broker?
e-broker
What is a e-broker?
e-broker
Function of broker?
role of broker
