For agents, brokers and PRECs
Accountant for Realtors & Personal Real Estate Corporations
Accounting for a realtor means charging and filing HST on commissions, setting money aside for tax when income arrives in uneven waves, and, if you use a Personal Real Estate Corporation (PREC), deciding how much to pay yourself. We look after the books and tax for agents and PRECs in Brampton and across the GTA.
Brampton · Mississauga · GTA · Virtual support across Ontario
How it works
Realtor accounting, step by step.
Exactly what happens after you get in touch, starting with one 15-minute call.
- Today
Book 15 minutes
A free, no-obligation 15-minute call on Teams or at our office at 181 Queen St E, Brampton.
- The call
Your income and set-up
How your commissions are paid, whether you have a PREC, and what is due next.
- Set-up
HST and expenses sorted
HST on commissions, car, marketing and desk fees recorded properly every month.
- Each year
Pay yourself on purpose
Salary and dividend choices from your PREC reviewed before year-end, with instalments planned.
- Your move
Ready when you are
Pick a 15-minute slot that suits you. We confirm the time and scope with you directly.
What we see most often
A great sales year can end with a tax bill you didn't plan for.
Four common problems, and what we do about each one.
- The problem
Commission income arrives unevenly.
Big months make it easy to spend money that is owed in tax.
The solutionTax set aside as you earn
We estimate what to set aside from each cheque and plan your instalments.
- The problem
HST on commissions gets missed.
Commissions are generally taxable, so most agents must register and file HST.
The solutionHST on a calendar
HST collected, input tax credits claimed and returns filed on time.
- The problem
You are not sure a PREC is worth it.
Since October 2020, Ontario agents can be paid through a PREC, which must meet RECO's ownership rules.
The solutionA plain comparison
We show what changes with a PREC for your income. Your lawyer handles the incorporation.
- The problem
Car and marketing costs are mixed with personal ones.
Mixed spending is hard to support if CRA asks.
The solutionClean business records
Business costs separated and supported, with a simple log for vehicle use.
WHAT WE HANDLE
One firm for the books and the tax
- Monthly bookkeeping for commissions and expenses
- GST/HST registration and returns
- Instalment planning
- PREC corporate tax return (T2)
- Salary and dividend planning from your PREC
- Personal tax return (T1)
- Vehicle and home-office records
- Records ready for mortgage applications
The exact work and fees are agreed in writing before work starts.
ANSWERS BEFORE YOU START
Common questions.
General information, not tax advice for your situation. Book 15 minutes to talk about yours.
Should I set up a PREC?
It depends on how much you earn and how much you can leave in the corporation. We show the numbers; your lawyer sets it up and confirms RECO's requirements.
Do I need to charge HST?
Most agents must, once taxable income passes $30,000 over four quarters. We confirm your situation.
Can you help if I am behind on filings?
Yes. We start with the oldest deadlines first and list what is missing.
Do you only work in Brampton?
Our office is at 181 Queen St E, Brampton. We also work with agents across the GTA on Teams.
A PRACTICAL NEXT STEP
Talk to us before
the deadline.
Share the service you need, your business type and any upcoming deadline. We’ll discuss the records, scope and next steps before work begins.