AgentProphet allows you to project your cash flow, automatically calculate your income tax & self employment tax withholdings, automatically apply deductible expenses, tie expenses to clients, and create budgets. Since this is a web-based application, you are privy to the benefits remote data storage provides, allowing you to access data anytime, anywhere. By implementing this system you can spend less time worrying about complying with updated federal tax tables, and spend more time on doing your job, selling real estate!
Cash Flow Monitoring
In an industry where nearly 30% of all participants vacate every year due to improper cash management, it is vital for you to have accurate cash management and commissions tracking. The ability of AgentProphet to manage your commissions and cash flow allow you to project your sales and accurately deduct your expenses ahead of time. This forward view is vital to managing your real-estate endeavors, giving you a picture of when and how much you are going to be paid. With AgentProphet you can view your cash flow three months in advance, and identify customers that are either taking too much time or costing too much money. It will also tell you all expenses incurred while closing a sale, allowing you to see how much money you actually made on said sale.
In order to accurately calculate commissions and your individual profit, you must be able to accurately track your expenses. AgentProphet is designed specifically for you, with features that allow you to track the unique expenses of your real-estate operations. You are given the ability monitor ROI on all of your advertising expenditures (e.g. signs, flyers, newspaper ads, etc.). By monitoring your ROI on advertising you can eliminate non-profitable advertising and focus more money on profitable advertising. Furthermore, AgentProphet can tie expenses with individual clients you serve, allowing you to see if the efforts you are making for each client is paying off.
Finally, AgentProphet tracks withholdings and monitors splits allowing you to protect yourself from, find, and reconcile discrepancies between you and your broker. With AgentProphet you can receive vital commission and cash flow information, with minimal input information required by you.
Individual Income Tax Preparation
With AgentProphet’s tax preparation capabilities you can ensure that you are withholding the necessary money for your end of year taxes. You are able to make quarterly withholdings accurately, no longer needing to estimate what the appropriate amount to withhold is. Additionally, AgentProphet gives you the ability to accurately perform deductions from your withholdings. AgentProphet will allow you to perform complicated deductions allowing you to save unlimited sums of money. Examples of deductions able to be performed by AgentProphet are: 50% deductions for client meals, deductions up to $25 for client gifts, and mileage deductions. With AgentProphet you can assure you are paying the IRS exactly what you need to pay, no more, no less.
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