SDG Accountant


Real Estate Professionals

As self-employed individuals, real estate professionals in Toronto are constantly on the run, helping their clients through the difficult transition of selling and purchasing their property. Likewise, SDG Chartered Professional Accountant Toronto can assist in providing detailed accounting and taxation services for your real estate related activities. We understand that you have a variety of concerns related to your Toronto realtor business, including HST remittance for real estate transactions, vehicle use for real estate professionals, allowable advertising for realtors, and home use for business. Let SDG Chartered Professional Accountant leverage our professional experience to take care of the issues regarding your individualized accounting and taxation needs so that you can stay focused on servicing your real estate clientele.

A real estate agent in Toronto should be able to determine if he/she is self-employed or an employee because this will impact the way they report their income. Get in touch with us to discuss your facts to be able to correctly determine if you qualify as an employee or qualify as a self-employed individual. The CRA looks at the facts of the working relationship between the payer and the real estate professionals.

To discuss briefly there are certain indicators pointed as under to determine the same:

Indicators that the worker is self-employed

  • The real estate agent is required to periodically pay a fixed amount to the real estate broker for administrative fees for services. The fee may be paid for the below services:
      • reception service,
      • a desk in the office,
      • the use of office facilities and conference rooms,
      • the use of printers,
      • transaction processing,
      • in-house accounting and payroll services, etc.
  • The real estate agent controls and establishes the rate of commission and are not subject to sales quotas (e.g., minimum listing requirements or dollar volume of sales).
  • The real estate agent is required to pay expenses associated with their activities, including car insurance premiums and repairs, professional liability insurance premiums and real estate association membership fees.
  • The real estate agent is free to hire staff and cover the cost of their own advertisement or contributes to the cost of advertising the listings.

Indicators that the worker is an employee

  1. The real estate agent is not required to pay any fee or amount to cover administrative costs for services provided by the real estate broker.
  2. The real estate broker retains a percentage of the agent’s sales to cover the administrative costs and only requires payment for these services when there is a sale.
  3. The real estate broker requires the real estate agent to perform specific tasks, such as answering telephone calls during a specific period at the real estate broker’s office.
  4. The real estate agent is subject to sales quotas (e.g., minimum listing requirements or dollar volume of sales).
  5. The real estate agent must account to the real estate broker for their activities on a daily or weekly basis (e.g., report on objectives, holiday reports, and work schedules; all of which have been requested by the real estate broker).
  6. The real estate broker covers the cost of advertising the listings.

There are also many other vital factors which need to be considered carefully and being an experienced CPA firm working with real estate professionals can make things easier for you.

GST/HST – The GST collected on the sales made needs to be remitted to the CRA on a timely basis. Discuss with us on what is an allowable input tax credit to offset HST collected on your earnings. We have experience reporting and remitting HST on behalf of our realtor clients. Working for a brokerage, they provide an earnings summary that provides a break down on HST collected on each transaction.

Receipts & Records – As a real estate agent who may be self-employed there are various expenses which can be claimed as a deduction. It is important to keep a track of all such expenses so that you will minimize income taxes. Get in touch with us now and we shall be able to assist you in your bookkeeping and accounting needs so that the financial control always remains in your hand.

Common Deductions for Realtors and Real Estate Agents–

Home Office – As most real estate agents who are self-employed, they will most likely work from home at some point during the year. We know how to optimize home office expenses for realtors to maximize their home-related write-offs.

Car Expenses – As the demand for the job is to be always on the move, the expenses incurred on the car can either be reported by the detailed or simplified method. SDG Accountant has years of experience being the best accounting firm in Toronto for real estate professionals. We know how to maximize automobile-related write-offs. Realtors are sales professionals who are always in transit and transportation makes up a big chunk of their expenditures.

Advertising – It is evident that realtors place a huge reliance on advertising to generate new leads and business prospects. When a realtor is not networking within their own bubble, they must find ways to have leads call or contact for queries and more information on properties, etc. Digital marketing plays a huge role in advertising in today’s day and age. Methods such as google ads, Facebook ads, Instagram ads, and other funnels are all allowable advertising expenses. Of course, the staples of advertising such as business cards, flyers, brochures, signs, stickers, calendars are also allowable advertising expenses.

Licenses & Professional EducationOREA provides tax receipts for their real estate related courses or professional development. We can ensure these are claimed accurately.

Book a free 15 minutes, no-obligation consultation to get more information about how we can help you with your specific needs.

Tell us your goals and the expertise you need – and we’ll build it!

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“Timely, Reliable and Knowledgeable service. I filed my taxes with Sami and his team and they provided the Next Day service of my return, which is incredible. Also, with the highest refund, I have seen on my taxes to date. I attribute this to their diligence and attention to detail. Very thankful I chose to file my Taxes with them and the fact that they communicated with me along the way.”

Ucal Ukes

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Brenden Woodrow

“Sami and his firm have provided me with tax preparation and related tax counsel/advice for my business tax returns from 2013 through 2015 and maintaining my business books. He has been knowledgeable, reliable, efficient and demonstrated great integrity across the work he has done for me and my small business. He is also friendly and enjoyable to work with. I will continue to use Sami and his team for my tax and business needs and I highly recommend them.”

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Trevor Gonsalves

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Bechara Khoury

“Sam, probably the most well dressed, professional, fast and easy accountant. He really did a great job at filing my taxes!”

Dean Sazdanovski

“Sami at SDG Accountant was fantastic. He was very efficient and professional. He thoroughly answered all of my questions and was very knowledgeable. I would highly recommend him and the SDG CPA firm.”

Kristina B

“What a pleasant experience! So professional, timely and efficient. Sami was helpful and knowledgeable, he answered all my questions and concerns. Very happy with the outcome and will be returning!”

Melissa Downman

“SDG accounting is by far the best experience I have ever had. They are quick, knowledgeable and very efficient. I know that I will be going back to Sami and Andrew every year. They went above and beyond! I highly recommended anyone needing tax or accounting services to get in touch with these gentlemen.”

Kayla O’Driscoll

“Approached SDG for a CRA issue I was dealing with. I sat down at their downtown office and in a matter of a few weeks my issue was fully resolved. I cannot thank you enough for all of the help. I look forward to working with your team in the future if the need arises!!!”

Kristen Walsh

“What Stands out about this firm is they’re very personable with their clients. As a dual citizen, I am limited in my options for firms who can handle both U.S. and Canadian returns and file them accurately. I approached SDG and they have a U.S. Tax lawyer on the team who works closely with their CDN office to ensure that foreign tax credits are being claimed properly. I am glad I found this firm as I will be looking forward to working with them for years to come!!!!”

Matt V

“I approached SDG accountant for my accounting and tax needs. I run an online marketing company and wanted to get the best possible tax planning scenario. Sam sat down with me and listened to my goals and what I wanted to accomplish in the next few years. He worked out a strategy and gave me processes to help my business finances be more organized. As an owner of a small corporation, I can trust SDG to deliver professional services at a reasonable price. Thank you guys and I look forward to continued satisfaction.”

Jake Solomon

“Great Experience Working with SDG Accountant. Smooth Process with Effective, Timely and Professional Service. Would Highly Recommend them.”

Scott Woodward

“Amazing service!! I was impressed with the quality of service and professionalism. I would choose SDG Accounting over H&R Block any day… quick and easy nothing beats them!”

Antonia Petre

“The whole experience was amazing!! So timely, professional and efficient, Sami filed my taxes as soon as I had sent him all the necessary documents with zero hassles. He will certainly be my accountant in the next few years! Thank you!”

Rita Houkayem

“SDG Accounting consistently helps me with my personal and small business accounting. It’s difficult to keep up with all my finances and I couldn’t appreciate the help more than I already do. Thanks a lot for the constant advice and returns.”

Waleed Ali

“I have been using the services from Sami as my accountant for years now, and he is an absolute lifesaver. He and his team at SDG Accountant helped me out of a messy situation from my previous accountant and my businesses are thriving now. Much more than just accounting, business and tax advice is second to none. I highly recommend SDG Accountant to anyone who is serious about their business and going to the next level.”

Anthony Alfonsi

“Dear Sami and Andrew Thank you very much Gentlemen for being able to resolve my issues with the CRA. You’ll have been a very professional organization that treats clients’ issues very seriously and with respect. I am so glad that I found you’ll online, my previous company took so long and finally I just gave up on them. I and my wife thank you once again and wish you all the very best. Thank you once again.”


“By far the best tax experience I’ve had. SDG Accountant is an effective and efficient firm that offers professional yet personal service. They took the time and energy to make this an effortless process and got me back more than I could hope for. Very knowledgeable. I will be using them for years to come. Thanks!”

Brandon Booth