Tax Tips For Personal Real Estate Corporations

ONTARIO FINALLY ALLOWS REALTORS TO INCORPORATE

As of that date, real estate salespeople and brokers may incorporate in Ontario and arrange for their self-employed revenue to be paid into a PREC. Many real estate professionals will choose to incorporate to take advantage of certain tax benefits. However, there is a lot to consider before you form a PREC. Forming a PREC is a complex task with a number of considerations that may differ depending on every REALTORS own business situation. The advantages of forming a PREC can be significant, but only exist only if it is set up correctly in accordance with your business, family and personal circumstances. If you are considering setting up a PREC, you should join our webinar and chat with our expert who has knowledge in accounting services for Personal Real Estate Corporations.