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Business Taxes And Forming An Appraisal Business

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Brian Jenkins

Junior Member
Joined
Sep 28, 2017
Professional Status
Certified General Appraiser
State
Tennessee
I am wondering how most appraisers form their businesses. I am a one man show and do residential appraisals for AMC and local lenders. I work in Tennessee and while businesses involved with mortgage lending, surveyors and architects are exempt from business taxes, according to the state appraisers are not. I argued I am involved in the mortgage lending process to no avail. To try and go before the board and argue my case costs a nonrefundable $500. I am curious as to how to avoid the 6.5% tax. Should I just not have a business name and sign up with clients under my own name and social security number? Again I work from home office and have no employees. Thank you in advance for any help.
 
This is a good question for a CPA and/or tax attorney. Leave a business card or two after you pay them for counsel.
 
Sounds like an issue specifically to Tennessee. Ask the moderators to move to the state forum.
 
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