- Top Tax Tips for Realtors“What are some of the Top Realtor Tax Deduction Tips?”, is one of the most commonly asked questions I get. A while ago I was a … Continue reading
- 4 Deciding Factors to Help You Choose Between Paying Yourself a Salary or Dividend from PRECHave you, as a realtor or real estate agent, found yourself with the question, “Should I pay myself a salary or dividend from PREC?” Well, you’re … Continue reading
- How to Prepare for the Rising Interest RateAs realtors, any fluctuation with the Interest Rate can seem very worrisome, wouldn’t you agree? Let’s begin with looking at the the recent realtionship between the … Continue reading
- How Realtors can Calculate Income Tax Payable on Commission IncomePAYABLE ON COMMISSION INCOME Before you learn how to calculate your income tax, you must first understand how the Canadian tax system works. The Canadian personal … Continue reading
- Harmonized Sales Tax: Calculate HST with The Quick MethodHarmonized Sales Tax (HST) is a combination of federal and provincial sales taxes on goods and services in Canada. Last week, we spoke about how realtors … Continue reading
- How to Deduct Realtor Commission Rebate the Right WayIf you have worked in the real estate industry for a while, you probably know how realtor commission rebates work. However, if you are new to … Continue reading
- What is a Realtor’s tax? Self employed vs. EmployeeA Realtor’s tax is often determined by his/her employment category. Realtors, like many other professionals, can either own their businesses or be employees. The language used … Continue reading
- How To Qualify For Financing in PREC?Realtors often ask, “how do I qualify for financing in PREC?” If you have been in the real estate industry for a while, you have probably … Continue reading
- 6 Common Realtor Tax Related Questions Asked By Over 200 RealtorsAre real estate agent taxes what keep you up at night? Are you a realtor worried about your tax implications? You are not alone! On a … Continue reading
- Should Realtors Incorporate?Did you know that realtors weren’t allowed to incorporate and receive commissions through corporations until just two years ago? In March 2020, a couple of local … Continue reading
- Can You Deduct Travel Expenses in Canada?“Can I deduct travel expenses, and if yes, then how?”, Realtors and small business owners often ask this question. Generally speaking, you can deduct expenses that … Continue reading
- What’s the HST Rebate on New Home?A HST rebate on a new home? Can your client potentially get one? Recently, a realtor asked, “how can builders avoid charging HST on new homes?” … Continue reading
- Should You Buy or Lease a Car to Maximise Tax Deductions?When you go to Buy a Car, you get presented with various financing options with many car dealerships offering different promotions. And purchasing a vehicle is … Continue reading
- The Question asked by every Realtor: Brokerage or PREC?As a Realtor is brokerage for you? Or is PREC your best bet? All ambitious realtors planning to take their businesses to the next level struggle … Continue reading
- How Realtors Maximize Tax Deductions on Gift CardsAs a Realtor, you may wonder if you can claim tax deductions on gift cards? If yes, then how? Generally speaking, any expenses you incur for the … Continue reading
- 10 Tax Deductions You Can Make As A RealtorWhat tax deductions can you make as a Realtor? To understand Realtor Taxes we need to understand how realtors are categorized. Realtors, like many other professionals, … Continue reading
- 4 Factors to Decide Paying Yourself Salary vs Dividend from PRECNow that you setup your PREC, should you pay yourself a salary or a dividend? As we all know, Personal Real Estate Corporation is considered a … Continue reading
- Building Your Real Estate Team: What I Learned From Finding A Live-In NannyHello to all you real estate investors and real estate professionals, I hope everyone had a wonderful Thanksgiving with their families this past weekend. Robin and … Continue reading
- HOW TO RECORD A PROPER AUTOLOG TO MAXIMIZE AUTOMOBILE EXPENSE DEDUCTIONSI had an excellent week up north at a friend’s cottage. She recently bought a cottage so that her kids, raised in the city, could get … Continue reading
- JUDGE PROVIDES INTERESTING COMMENTS DURING A COURT CASE ON UNREPORTED CONDO SALEKids are cute and unpredictable. But they’re kids only once. I am not perfect. I am far from perfect. A client of mine and I were … Continue reading
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