Archive for September, 2020

Should I incorporate my realtor business (PREC)?

Posted on: September 16th, 2020 by Real Estate Accountants

With the Ontario government about to allow a Personal Real Estate Corporation (PREC) for realtors, now is the time to ask: “Should I incorporate my realtor business?” With tax deferrals of up to 41.33% of your profits plus potential tax savings on reinvested profits and through income splitting, realtors are taking a serious look at […]

Checklist for managing a new realtor corporation (PREC)

Posted on: September 16th, 2020 by Real Estate Accountants

Now that you have a Personal Real Estate Corporation (PREC), we have a checklist of areas you and your team must ensure are being managed and monitored. Then, you can do what you’re best at – buying and selling real estate. Once the systems and processes are set up, it will be relatively straightforward for […]