PREC- Real Estate Personal Corporation: what Realtors need to know

PREC- Real Estate Personal Corporation - what realtor needs to know. What is PREC? Should a Realtor incorporate? Real estate agents planning to do Real estate business full time should consider incorporation. You may end up much better off at the end of the tax year. You'll be protected against some types of liability from client claims. You'll be able to arrange your expenses in a way that makes sense.
Michael Stunden practiced in many areas of law since 1985 with a focus on solicitor’s work, including banking, intellectual property, real estate, mergers & acquisitions, intellectual property, corporate, commercial, securities, and secured lending.
He's helped GOBC Real Estate School and GOBC Students for many years.
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[@angelgarcia.realtor]

Thanks for this info Michael and Yaana. It is very helpful!

[@patricklexima9520]

Not trading stocks would be in BC and some provinces only? I have a PREC and I asked reco what I can't do, the repeated answer was what I do within my PREC is personal! My accnt strongly advised me against owning real estate to avoid liabilities, but having a PREC brokerage account is ok.

[@onanotheradventure]

this information should cost money! great interview, great advice!

[@sellingsunshinecoast]

Love the cat 😺

[@alperpolat_realestate]

What's the difference between PREC and incorporation? I am already incorporated, would it make a difference to change that to PREC?

[@GOBCRealEstateSchoolOfficial]

PREC applies to real estate profession. This is the best way for real estate agents to ave of taxes and spread the income

[@sun77m]

Do we need free tax roll over for the business

[@augqwe190]

My right ear is lonely 😭

[@happyisthegirl]

Thanks fo this information but the woman talks way to fast to follow but otherwise good information

[@robynliseth1364]

Dude, she’s from Russia..listen carefully

[@woodenwolf325]

Bad audio.