The real estate industry is dynamic, competitive, and notoriously fast-paced. As a real estate professional, you have countless demands on your time and you need to focus on what you do best: LISTING and SELLING! Our team at Fuller Landau will take care of the rest, by managing your personal tax situation, exploring and assisting with incorporation, minimizing taxes, and protecting your assets.

Regardless of whether you are an independent agent or an incorporated brokerage, Fuller Landau’s professional services team ensures you have the optimal structure in place to leverage every possible tax deferral or savings opportunity. Real estate is your area of expertise. Saving you tax, is ours.

At Fuller Landau, we have a number of sole proprietor real estate sales professionals as clients, who require assistance with the preparation of personal income tax returns. We help these clients take advantage of every possible tax deduction for which they are eligible, while also assisting with HST filing, cash flow planning, bookkeeping, and overall investment and tax advice.

We also work closely with our realtor clients to help them understand the rules, benefits, and implications of incorporation, and whether it makes sense for their specific situation.

Agent/Brokerage incorporation is a fairly new option in the Ontario real estate industry, enabling the design of a corporate structure with a variety of tax advantages. Fuller Landau was involved in the very first Agent/Brokerage incorporations here in Ontario, and over the past several years, we’ve worked closely with expert legal counsel to develop an in-depth expertise in the process.

Is Incorporation Right for You?

Incorporation is a potential option for individual agents and teams that:

  • Are engaged by a brokerage that:
    • is a franchisee of a franchisor that permits incorporation
    • has the infrastructure to be able to provide you with all of your back office requirements
  • Are licensed brokers or have a licensed broker on their team who will act as the broker of record
  • Operate one or more independent offices
  • May have staging companies in addition to the real estate brokerage office
  • Are top performers and high-income earners (generally earning more than $300,000 a year) who spend less than they earn
  • Have a need for more complex tax structures

Every realtor’s situation is unique. We’ll take an in-depth look at your specific situation and determine if setting you up in your own corporate brokerage, but still operating within the framework of your current broker and franchise, is right for you. We work closely with lawyers who specialize in professional incorporation to design and implement the optimal corporate structure. We take care of the internal accounting for the franchisees, along with outsourced bookkeeping, payroll, HST returns, and investment and tax planning.

For more information, please contact Elliot Richmond, chair of our Realty Agents & Brokerages group, at Fuller Landau. Elliot can be reached at 416.645.6535, or at erichmond@fullerllp.com.

Elliot Richmond

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