real estate professionals
Our years of experience in real estate accounting services give you peace of mind.
Working as a real estate agent comes with unique challenges. You can sometimes have high up-front costs, and when you do get paid, it may be sporadically. Deciding how to structure your company is another hurdle.
We’re here to guide you through structuring your company and offer ongoing support as you do business. With our years of experience, we bring peace of mind to the table. You can rest assured everything is filed accurately and you will keep as much of your hard-earned money as possible.
Personal Taxes
Keeping your business and personal tax filings separate when you’re self-employed can be complicated. We provide clarity and direction so that you can focus on what matters most.
Here’s what’s included:
- T-1 Individual Income Tax Return
- T-2125 Statement of Self-Employed Earnings
Setting up a Personal Real Estate Corporation (PREC)
The real estate industry has changed dramatically in the past few years, and figuring out how to set up to do business can be intimidating. We manage everything from beginning to end, making the entire process seamless.
Here’s what’s included:
- NUANS Name Search
- Articles of Incorporation
- Initial Return Filing
- Setup of accounts with the CRA (RC – corporate tax, RP – payroll, RT – GST/HST, RZ – dividend)
Corporate Tax Filing
PRECs are obligated to file an annual corporate tax return with the CRA, and there are savings to be had for completing your returns accurately. We’re here to clarify this unique process and ensure you get back as much as possible.
Here’s what’s included:
- T2 Corporate Income Tax Return
- Issuance of tax slips
- T4 (Employment)
- T5 (Dividends)
- Compilation of financial information– CSRS-4200
- Advice and guidance on eligible tax write-offs
- Unlimited ongoing accounting and business support to answer your questions throughout the year
- Year-round representation with the CRA
Real estate bookkeeping services
A sure thing about real estate is that those working in the industry are busy–especially in certain markets. Staying on top of your books when you have so much on the go is understandably challenging.
We’re here to take the burden of bookkeeping off your hands, so you can spend your time focused on your clients.
Here’s what’s included:
- Monthly real estate bookkeeping services
- Monthly reporting of trial balance and P&L
Set up a free consultation to discuss how our real estate bookkeeping services in Toronto and Mississauga can best support you.