Brokerage, lending & investing

Books and taxes for loan officers.

A commission check from your lender that already had a draw deducted, a co-marketing split with a real estate agent, continuing education fees, and a bonus for hitting a volume tier. Gus sorts all of it, an accountant checks every transaction, and you get one number a month.

Book a call What we handle
  • From $197 a month
  • An accountant on every transaction
  • Cancel whenever
MarchExample month
$7,600
what you made

March cleared $7,600. Your draw from February was subtracted from this month's commission, so I logged the net the way your lender actually paid it.

  • Lender commission depCommission income
  • Volume tier bonusProduction bonuses
  • Co-marketing split, agentCo-marketing costs
  • Continuing education courseLicensing and education
  • CRM subscriptionSoftware and tools
Money in$16,800
Money out$9,200
Set aside for taxes$1,500
An example month. Yours will have your numbers.

Why your books are different

Loan officer books go wrong at the line between W-2 and 1099.

Whether you are paid on a draw against future commission, a straight W-2 salary plus bonus, or as a 1099 contractor changes almost everything about how your books and taxes work. When the books do not know which one applies to you, nothing else lines up right.

  1. 1

    A draw against commission gets counted twice

    Many retail lenders pay a draw each pay period that gets subtracted from commission once it is earned, and if both the draw and the full commission get counted as separate income, you look like you earned more than you actually did.

    What we doNets the draw against the commission it came from, so only what you actually earned counts as income, matching how your lender's own statement works.
  2. 2

    W-2 wages and 1099 commission get mixed on the same books

    A loan officer on a hybrid pay structure, part salary and part commission through different arrangements, can end up with wages and contractor income blended together, which confuses what is already taxed through payroll and what still needs a set-aside.

    What we doKeeps W-2 wages separate from any 1099 commission income, so only the untaxed portion gets a set-aside planned against it.
  3. 3

    A co-marketing split with a real estate agent looks like a kickback risk

    Splitting marketing costs with a real estate agent for a joint campaign is common, but if it is not documented clearly as a shared cost for actual marketing, it can raise real compliance questions under lending rules.

    What we doKeeps co-marketing costs documented as a clear, proportionate shared expense, so the arrangement stays clean and easy to explain.
  4. 4

    A volume bonus lands as one lump with no context

    A bonus for hitting a production tier can show up as a single large deposit, and without noting what it was for, it looks like an unexplained windfall instead of a predictable part of your pay structure.

    What we doTags production bonuses as their own category, so they read as a normal part of your income, not a mystery deposit.

Your categories

The categories Gus keeps for a loan officer.

Set up once for how your lender actually pays you. You never pick a category. He does, and an accountant checks it.

Money in

  • Commission incomeCommission earned on closed loans, net of any draw already paid.
  • Production bonusesOne-time bonuses for hitting a volume tier or other production mark.
  • W-2 wagesBase salary or draw paid through payroll, already taxed at the source.
  • Referral fees receivedFees for sending a borrower to another loan officer or specialist.

Money out

  • Co-marketing costsShared marketing costs with a real estate agent or referral partner.
  • Licensing and educationNMLS renewal and continuing education courses.
  • Software and toolsCRM, pipeline tracking, and mobile app subscriptions.
  • Marketing and lead costsAds, mailers, and lead purchases you pay for yourself.
  • Vehicle and mileageTravel to meet borrowers and referral partners.

What we watch for you

  • Commission net of draws

    What you actually earned after any draw already paid, so your real income is clear.

  • 1099 income needing a set-aside

    The portion of your pay not already taxed through payroll, since only that part needs planning for.

  • Co-marketing spend

    What you are splitting with referral partners, kept documented and proportionate.

  • The set-aside

    What you will owe on untaxed income, tracked every month, so April is a number you already knew.

Ask Gus

Things loan officers ask Gus.

Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.

My lender took my February draw out of this month's commission. Why does my income look lower than what I closed?

That is expected. The draw was already paid to you last month, so it gets subtracted here. What is left is the actual new income you earned in March.

I am part salary and part commission through a side arrangement. How does that work for taxes?

I keep your W-2 wages separate from any 1099 commission, since the wages already had taxes withheld. Only the 1099 portion needs its own set-aside.

An agent and I want to split the cost of a joint mailer. Is that okay to do?

I can track it as a documented, proportionate shared cost, which is how it should look. Whether the specific arrangement is compliant with lending rules is something to run by your compliance department or an attorney.

The tax side

The tax side of a loan officer's income.

Most of what matters here is separating what is already taxed through payroll from what still needs a set-aside.

What your return has to get right

Your accountant signs it, so it gets done right the first time.

  • W-2 versus 1099 statusWhether you are paid as an employee or an independent contractor changes how taxes are withheld and what needs its own set-aside. Many loan officers are a mix depending on the specific pay arrangement.
  • Self-employment tax on 1099 incomeAny commission paid as a 1099 contractor carries self-employment tax at 15.3 percent up to the Social Security wage base of $184,500, since no employer withholding applies to it.
  • Quarterly estimated payments on the untaxed portionOnly income not already covered by payroll withholding usually needs quarterly estimates, due April 15, June 15, September 15, and January 15.
  • The pass-through deductionSelf-employed loan officers can often take up to 20 percent of qualifying business income off their taxable income. It comes out right when 1099 income is booked correctly all year.

Deductions loan officers miss

Your bookkeeper knows what to look for in your statements. You never have to.

  • NMLS renewal and continuing education
  • CRM and pipeline software
  • Co-marketing costs with referral partners
  • Marketing and lead purchases
  • Vehicle mileage to meet borrowers
  • Phone and data plan
  • Home office for a dedicated workspace
  • Professional headshots and branding
  • Trade association dues
  • Background check and licensing fees
  • Client gifts at closing
  • Errors and omissions insurance if not covered by the lender

General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.

All year, not just April

A loan officer's year, kept every month.

Commission and bonuses land unevenly through the year. Your team keeps you ahead of what is actually owed on the untaxed part. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.

  1. January

    Plan the year

    Last year's return gets started, and a monthly set-aside is planned for any 1099 or untaxed income expected this year.

  2. April

    Filed. Done.

    Your return is filed and signed. No surprise bill, because the set-aside has been running since January.

  3. July

    Halfway check

    Where you stand, what you will owe, and whether spring closing volume changed the number.

  4. October

    Before the pipeline slows

    Purchase closings typically ease up heading into the holidays, which can mean a lighter draw against future commission. Gus looks at what is worth planning for before the calendar turns.

What you get

Starts at$197a month

What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.

Book a call
  • Monthly bookkeeping

    Every transaction sorted into categories set up for loan officers. You never categorize a thing.

  • An accountant checks every transaction

    Real review, every month, before your books close. Not a spot check.

  • Your business tax return, filed

    Prepared, reviewed, and signed by that same accountant every year.

  • The monthly number

    What you made, what you spent, what to set aside for taxes.

  • Your own bookkeeper

    A real person assigned to your business, in the app whenever you need them. No hold music.

  • On your books all year

    Every month, not just in April. Your team speaks up whenever something is worth your attention.

  • Cancel any time

    No contract. No cancellation call. Your books are yours.

Straight answers

Questions loan officers ask first.

I get a draw every pay period that comes out of my commission later. How does Gus handle that?

The draw is netted against the commission it came from, so only what you actually earned counts as income, matching your lender's own commission statement.

Part of my pay is W-2 and part is a separate 1099 arrangement. Can Gus keep those straight?

Yes. W-2 wages, already taxed through payroll, are kept separate from any 1099 commission, so only the untaxed portion gets a set-aside planned against it.

Do I need to set up my own business entity as a loan officer?

That depends on how you are classified and paid. The accountant looks at your specific arrangement and tells you if a different setup makes sense.

I split marketing costs with a real estate agent I work with often. Is that something Gus tracks?

Yes. Gus keeps it documented as a proportionate shared cost, which is the kind of record that matters if the arrangement is ever reviewed.

My bonus for hitting a production tier landed as one big deposit. Does that mess up my monthly number?

No. It gets tagged as a production bonus, so it reads as an expected part of your pay structure, not a mystery windfall in your books.

My commission statements from my lender are confusing and my personal records do not match. Can Gus sort it out?

Yes. Send your lender statements and bank records. Gus reconciles the draw, commission, and bonus activity, and most loan officers know where they stand within a couple of weeks.

Is a real accountant checking my books?

Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.

What does it cost, and can I cancel?

It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.

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Book a call

Pick a time. That's the whole signup.

Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.

  • $197 a month to start
  • An accountant on every transaction
  • Cancel whenever