Additionally, geographical location and the qualifications of the bookkeeper influence pricing. From marketing costs and client entertainment to vehicle and office expenses, real estate agents often incur a wide range of business-related expenses. Keeping track of these expenses is essential for tax deductions and expense management. Our team helps you accurately record and categorize all expenses, ensuring you maximize your deductions at tax time. Realtors typically use either the cash basis or the accrual basis accounting method in bookkeeping real estate practices. The cash basis records income and expenses when cash changes hands, while accrual accounting recognizes them when they occur.