Accounting for real estate agents in Toronto
Incorporated agents (PREC) earn commission income, deduct marketing and vehicle costs, and need to plan for lumpy, deal-driven cash flow. In Toronto, taxifi handles it online: books current every day, filings on time, and a Canadian accountant reviewing and signing every file.
CRA EFILE authorized · Every file reviewed by an accountant · Switching is free — about an hour of your time
Real Estate Agents in Toronto, books handled
Toronto is Canada's largest business market, dense with professional firms, agencies, trades, and fast-growing companies that need their books current and their T2 handled without a spring scramble.
For real estate agents specifically, taxifi covers the work below as part of one flat monthly price, with Ontario’s HST, WSIB, and Employer Health Tax handled inside the service:
- Commission-income bookkeeping
- Marketing, vehicle, and expense tracking
- HST returns prepared and filed
- PREC corporate bookkeeping and owner pay planning
What we take off a Toronto real estate agent’s plate
Lumpy commission income
Commissions arrive in bursts. We keep the books current so tax is set aside as you earn, not scrambled for in April.
Marketing and vehicle expenses
Marketing, vehicle, and client costs are tracked and documented so you claim everything you're entitled to.
Your PREC
The personal real estate corporation's books and year-end T2 are handled, with owner-pay planning built in.
Why Toronto real estate agents choose taxifi
Toronto is Canada's largest and most competitive market. Costs run higher here — rent, wages, insurance — which means margins need watching weekly, not discovered at year-end. The upside of the density is demand; the price of it is that owners who don't know their numbers get outbid by ones who do.
Real estate agents here carry the same load as anywhere: commission income that arrives in lumps while the expenses never stop. What changes with taxifi is that the books are current every single day and an accountant signs everything — which means instalments and the PREC question get planned instead of discovered.
Common questions
Do I charge HST on my commissions?
Yes — real estate commissions are a taxable service, so once you're past the $30,000 small-supplier threshold you register and charge HST, and the HST you pay on marketing, brokerage fees, and the business share of your vehicle comes back as input tax credits. For a busy Toronto agent, uncaptured credits are one of the most common ways money quietly leaks.
My income is irregular. How do I avoid CRA instalment surprises?
A big commission year can create instalment obligations the following year — CRA sizes them from your recent history, not your current pipeline — and agents get caught paying last year's success out of this year's slower months. Books that are current let your accountant size set-asides to reality all year, so the instalment notices are expected, funded, and boring.
How does taxifi compare with hiring a downtown Toronto accounting firm?
You get the parts that matter — books kept current, filings done on time, a Canadian accountant reviewing and signing — without the downtown overhead built into the fee or the office visits built into the process. Everything happens online, and the price is one flat monthly amount quoted up front.
I already have a bookkeeper or accountant in Toronto. How hard is switching?
The switch is free: we deal with your current provider directly, collect your file and history, and take over the monthly work. Any catch-up is scoped and priced before you commit. Your part is about an hour, and mid-year is fine.
Your Toronto real estate agent, books and taxes handled
One flat monthly price for incorporated Ontario businesses, quoted live on a short call.
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