Real Estate Professionals

Real Estate Professionals

Build your business on organized financial records.

Bookkeeping, HST/GST, payroll, tax and financial reporting for Ontario realtors, brokers and real-estate service businesses.

  • Commission income records
  • Business expense tracking
  • HST/GST support
  • CPA-led oversight
Real estate professional holding keys outside a property
Built for Real EstateFrom each closing to year-end
Realtor BookkeepingHST/GST SupportTax-Ready RecordsMonthly Reporting
Real estate professional meeting with clients
Commission-Based Business

Your income may be irregular. Your records should not be.

Closings can cluster in strong months while marketing, licensing, vehicle and office costs continue throughout the year.

A dependable accounting process helps separate gross commissions, brokerage deductions, operating expenses and tax obligations so your reports reflect the business more clearly.

  • Commission statements
  • Brokerage deductions
  • Marketing and staging costs
  • Vehicle-use records
  • Office and technology costs
  • HST/GST and income tax
Common Pressure Points

Where real-estate accounting becomes difficult

01

Income varies month to month

Closings and commission timing can make cash flow and tax preparation harder to plan.

02

Statements contain deductions

Brokerage fees, splits and other charges may need to be separated from gross commission income.

03

Business and personal costs mix

Vehicle, phone and home-office costs require records that support the business-use portion claimed.

04

HST/GST accumulates

Amounts collected and input tax credits need to be recorded and monitored between filing dates.

05

Marketing spans many channels

Photography, signs, advertising, websites and client materials create frequent expenses.

06

Year-end arrives quickly

Missing statements, receipts and mileage information can delay preparation and create extra cleanup.

Accounting Services for Real Estate Professionals

Connected support throughout the year

Services can be tailored to your business structure, commission activity, team, systems and reporting needs.

Monthly Bookkeeping

  • Bank and credit-card reconciliation
  • Commission income recording
  • Expense classification
  • Monthly financial statements
Explore Bookkeeping →

Commission Reconciliation

  • Brokerage statement review
  • Gross commission records
  • Fee and split classification
  • Deposit matching
Explore Accounting →

HST/GST Support

  • Sales-tax account review
  • Input tax credit records
  • Return preparation and filing
  • CRA correspondence support
Explore Tax Services →

Personal & Corporate Tax

  • Self-employed T1 returns
  • Corporate T2 returns
  • Year-end financial preparation
  • Capital asset schedules
Explore Business Tax →

Payroll & Team Support

  • Payroll processing coordination
  • Source-deduction tracking
  • T4 and ROE support
  • Team expense records
Explore Payroll →

Cleanup & Guidance

  • Historical reconciliation
  • Cash-flow and budget support
  • Tax-instalment awareness
  • Periodic financial discussions
Explore Guidance →
Follow the Commission

Understand the path from closing to bank deposit

Commission statements may include several components. Recording them separately can provide clearer income, expense and HST/GST information.

Gross CommissionIncome earned before statement deductions
HST/GSTSales-tax amounts shown on supporting records
DeductionsSplits, brokerage charges and other statement items
Net DepositThe amount ultimately transferred to the bank
Residential property represented by a real estate professional
Who We Support

Accounting for real-estate businesses and professionals

Realtors

Real Estate Brokers

Real Estate Teams

Property Managers

Mortgage Professionals

Real Estate Consultants

Home Stagers

Incorporated Professionals

Records to Maintain

Build a tax-ready document routine

Eligibility and deductibility depend on the facts. Organized records help support the business purpose and calculation of amounts reported.

IncomeCommission statements, invoices, deposits and brokerage reports.
MarketingAdvertising, listing photography, signs, websites and promotional materials.
VehicleMileage log, fuel, repairs, insurance, financing and purchase documents.
WorkspaceOffice rent or appropriate home-workspace records and calculations.
Professional CostsLicensing, dues, education, software, phone and insurance documents.
Client & Listing CostsSupporting receipts and a clear business purpose for each transaction.
Our Process

A practical path to organized real-estate accounting

1

Discovery

We discuss your structure, brokerage, systems, filing status, team and current concerns.

2

Assessment

We review available records and identify missing information, cleanup needs and priorities.

3

Setup & Catch-Up

We organize accounts, establish access and bring the books to the agreed starting point.

4

Monthly Support

We follow the document schedule, complete reconciliations and deliver agreed reporting.

CPA-Led Oversight

Professional accounting for a relationship-driven business

ASP Tax & Accounting Services supports real-estate professionals in Cambridge, Waterloo Region and across Ontario.

“Real-estate professionals spend their time building relationships and moving transactions forward. Our goal is to create a dependable financial process behind that work.”Andeen Palmer, CPA · Owner & Principal Accountant
Frequently Asked Questions

Real-estate accounting questions

Can you reconcile my brokerage commission statements?

Yes. We can review the information available and establish an appropriate method for recording gross commission, HST/GST, fees, splits and net deposits.

Can I claim all of my vehicle costs?

Not automatically. The treatment depends on ownership, business use and supporting records. A contemporaneous mileage log and expense documents are important.

Can you help if my bookkeeping is behind?

Yes. We can assess the available bank statements, commission reports and supporting documents, then quote a cleanup or catch-up engagement.

Do you work with incorporated real-estate professionals?

Yes. We support incorporated and self-employed professionals. The exact services are confirmed based on your legal structure and engagement needs.

How should I prepare for irregular income?

Regular bookkeeping, cash-flow monitoring and periodic review of HST/GST and income-tax obligations can make upcoming payments more visible.

Let’s Talk About Your Business

Ready to close the gap in your accounting?

Book a complimentary consultation to discuss your commission records, expenses, filings and the support that fits your real-estate business.