At Last, Ontario Realtors can now pay as low as 12.2% in taxes!
Many realtors in Ontario watched in anticipation as Bill 145 proceeded through parliament, received Royal Assent and was eventually filed on October 1, 2020.
As a realtor, it would be wise to consider incorporation because these new regulations will now allow you pay 12.2% tax in the corporation, much less than what you would otherwise pay in your personal name.
This means that you can have more money available to reinvest in your business, invest for retirement savings, build up for rainy days, buy your dream home or give your family the life they deserve.
Unfortunately, this will not be the reality of every realtor who jumps on the incorporation train. While incorporation may be the right move for ‘Realtor A’, it may not be for ‘Realtor B’.
To determine if setting up a PREC is the right step for your real estate business, it is important to seek the advice of a professional real estate accountant.
“HOW DO I GET STARTED SETTING UP A PERSONAL REAL ESTATE CORPORATION?”
We put together this report to answer the 7 burning questions other Realtors like yourself are asking about setting up a PREC and how to get started.
Some of the companies and realtor boards we’ve done presentations for:
HEAR FROM SOME OF OUR CLIENTS AND PARTNERS…
The process of setting up a PREC can be confusing but we’ve got it simplified for you.
Book a consultation with us to help you mapout what incorporation will look like for your real estate businss according to your unique situation.
WHERE TO FIND MORE OF OUR RESOURCES
- Join over 8800 other realtors and real estate investors who subscribe to our FREE “Real Estate Tax Tips” Newsletter HERE
- Connect on Social media
- If you would like to ask us a question, click on the “Submit a Question” link near the top of the navigation bar on the left side of this page.
Finally welcome to REALTOR INCORPORATION,
Cherry Chan CA, CPA
MUST HAVE RESOURCES
#1 FREE REPORT: “7 questions to ask yourself when deciding to incorporate”
#2 FREE REPORT: “7 frequently asked questions (and answers) about setting up a personal real estate corporation”
#3 FREE REALTOR INCORPORATION WEBINAR: