Commission Advances and Taxes: What Real Estate Agents Need to Know
Tax season surfaces questions that commission advance providers hear regularly: does a commission advance count as taxable income? How does it show up on a 1099? Is the fee deductible? The answers are straightforward, but the mechanics of how they work in practice are worth understanding clearly, particularly for agents who advance commissions multiple times […]
Do You Need Your Broker’s Signature for a Commission Advance?
In most cases, yes. A broker’s signature is a standard requirement for a commission advance and the reason is legal, not procedural. This page explains why the broker’s involvement is necessary, what they are actually signing, and how to handle situations where the broker has not encountered the process before. Key Takeaways In most states, […]