Many people confuse rental income with property sales, even though they differ. Although they may seem similar at first glance, they are pretty different in how they generate cash flow and are recorded in real estate. Understanding these differences is super important for those involved, such as property investors, accountants,
Tips & Resources
33 posts
Should you incorporate as a Limited Liability Company (LLC) or a Corporation? Realtors in Calgary often work as independent contractors, which means they have to make big decisions about how to structure their business. While LLCs are popular in the U.S., they aren’t an option in Canada. Instead, Canadian realtors
Few things are more stressful than receiving a CRA late filing notice letter. If you’re a Canadian realtor who missed a tax deadline, the Canada Revenue Agency (CRA) may send you a notice demanding immediate action. Ignoring it can lead to hefty penalties, interest charges, and even further audits. So,
If you’re a realtor and just received a CRA late filing notice letter, don’t panic—but don’t ignore it either. Late tax filings can lead to penalties, interest charges, and even a deeper review of your finances. The good news? You can take action now to minimize the damage. Here are
If you’re a Calgary realtor, tax season comes with its own unique set of challenges. From juggling self-employed income to managing multiple deductions, the process can feel overwhelming if you don’t stay ahead of the game. Add in the importance of meeting CRA deadlines, and it’s no wonder tax season
If you’re a realtor in Canada, you know that managing your commission income can feel like a juggling act. Between splitting commissions with your brokerage, tracking expenses, and figuring out tax deductions, staying on top of your finances can get overwhelming—fast. So, how do you make it easier without hiring
Managing your finances as a real estate agent can sometimes feel like trying to untangle a mess of earbuds—you’re constantly questioning which wire goes where. If you’ve ever found yourself sorting through receipts, wondering which expenses are business-related and which are personal, you’re not alone! This is especially common for
As a self-employed realtor, navigating taxes can feel like stepping into a maze. While most of us are aware of the big-ticket deductions like mileage and office rent, many realtors miss out on smaller expenses that could add up to significant tax savings. If you’re operating in Calgary or beyond,
If you’re a real estate agent in Canada, you likely spend plenty of time working from home—whether it’s crafting listing descriptions, responding to emails, or managing client documents. The good news? The Canada Revenue Agency (CRA) allows you to deduct home office expenses if you meet their requirements. But are
How do you know if outsourcing accounting as a real estate agent will help? As a real estate agent in Calgary, you probably wear more hats than you can count – including the accounting one. You’re a marketer, a negotiator, a client confidant—and maybe even your own accountant. But here’s
Ever feel like you’re leaving money on the table when tax season rolls around? For real estate agents, especially in a dynamic market like Calgary, taxes can be more than just a headache—they can impact your bottom line in a big way. But here’s the thing: smart accounting services can
Are you a considering Bookkeeping Services specialized for Realtors? You’ve got plenty on your plate—showings, client calls, negotiating deals, and let’s not forget the never-ending paperwork. Something that often gets sidelined when it should be a priority is your bookkeeping. Managing your financials might not be as glamorous as closing