Personal Real Estate Corporations (PRECs): For the Legal and Accounting Practitioner
In this comprehensive webinar, Steven Pitucci and Neal Winokur, two CPAs from Toronto, Ontario, discuss Personal Real Estate Corporations (PRECs), which came into existence for Ontario REALTORS® as of October 2020. This webinar is intended for both accountants and lawyers who are, or are considering, servicing high net-worth REALTOR® clients.
Topics discussed in this webinar include: • Understanding of how REALTORS® and operate • Introduction of the PREC • Tax deferral illustrations for PRECs • Summary of the Oct 2020 regulations • Dealing with issues related to “personal service businesses” • Dealing with goodwill • Income splitting considerations
The All-in-One Tax Solution for Ontario Realtors
RealtyTax.ca, operated by Steven Pitucci, CPA, CA and Neal Winokur, CPA, CA, provides 21st-century tax solutions focusing on real estate agents across Ontario
Provincial regulators of CPAs in Canada do not require that independent providers of CPD be approved to offer courses. Instead, individual CPAs are responsible for assessing whether a CPD activity meets their requirements, and may take activities from any source provided those requirements are met.
Every course offered on LearnFormula is delivered by a qualified subject matter expert or learning organization, and advances learning objectives that are relevant to the responsibilities or professional competencies of Canadian CPAs. All activities on LearnFormula are quantifiable in terms of hours, and are also verifiable, in that users receive documented evidence of their attendance via a certificate of completion after finishing a course (and this certificate is stored by LearnFormula indefinitely). Nearly 100,000 Canadian CPAs successfully satisfy their CPD requirements via LearnFormula on an annual basis.
