What is PREC?
A personal real estate corporation, or PREC, allows a real estate agent to earn their business income through a corporation. British Columbia, along with several other provinces in Canada, allow PRECs.
Does it make sense to PREC?
Our team at Cahill CPA can help determine whether “PREC’ing” is right for you. We help assess all the factors to consider when deciding whether to incorporate your real estate business.
Benefits to Incorporate:
- the ability to defer income tax.
- opportunities for income splitting with family members.
There may be other potential benefits of personal real estate corporations for some realtors.
Cahill CPA has extensive experience with BC realtors, and has provided guidance & support to our clients when making the decision to incorporate. It is always prudent to seek tax & financial advice about the potential benefits of incorporation.
www.CahillCPA.ca 604-985-0123 North Vancouver