A career in real estate...

[ac328]

Yes Mr Accountant - what was the question - can he make deductions and the answer is YES...

Theres restrictions on everything you cannot claim 100%, I don't assume he's stupid enough to assume that even if you are - he's not asking that - he's asking can he make deductions

No the answer is "potentially". Obviously you don't do professional advice for a living.

Based on your answer you make it sound like everything is a eligible for a write-off. Why woud you "assume" S16 knows about anything related to tax? If he/she knew a lot about tax he wouldn't be asking about it on RFD, would he/she?

The Income Tax Act is 2000+ pages long...you think your "yes" answer is remotely responsible?

If S16 wants specific advice on tax that's fine, but your one word answer is an excellent example of the old saying "you get what you pay for". S16, if/when you start your business and you have actual income and expenses, get professional advice. Don't ask about something so complex on the internet! This isn't pricematching a TV at Future Shop we're dealing with here.

[rb]

No the answer is "potentially". Obviously you don't do professional advice for a living.

Based on your answer you make it sound like everything is a eligible for a write-off. Why woud you "assume" S16 knows about anything related to tax? If he/she knew a lot about tax he wouldn't be asking about it on RFD, would he/she?

The Income Tax Act is 2000+ pages long...you think your "yes" answer is remotely responsible?

If S16 wants specific advice on tax that's fine, but your one word answer is an excellent example of the old saying "you get what you pay for". S16, if/when you start your business and you have actual income and expenses, get professional advice. Don't ask about something so complex on the internet! This isn't pricematching a TV at Future Shop we're dealing with here.

Depends on how you chose to interpret a question and an answer doesn't it.?.....I give the benefit of doubt to most people that they have more then 2 brain cells. as a PART TIME or FULL TIME agent (doen't matter what) you can write of business expenses like cars and meals


so the answer "CAN" an agent write off expenses is YES

[ac328]

Depends on how you chose to interpret a question and an answer doesn't it.?.....I give the benefit of doubt to most people that they have more then 2 brain cells. as a PART TIME or FULL TIME agent (doen't matter what) you can write of business expenses like cars and meals


so the answer "CAN" an agent write off expenses is YES

Alright I think this point has driven this thread off-topic long enough. One more point:

So in other words your advice is it is possible to deduct expenses for tax purposes. Well, thanks for coming out. If anyone with "more than 2 brain cells" could figure it out, the why in the hell did you need to say anything? As you say, that's obvious, no?

While you're at it, RB, can I ask you advice on what colour is the sky, how many sides a triangle is, and other subtle things you just might have the answer to...

S16, feel free to get all your tax advice from the great insightful RB should you embark on your real estate career.

[S16]

thx for ur help guys

[alanbrenton]

My wife just passed her Phase 3 exam and is about to embark on a part-time realtor career.

Would the commission fee split vary amongst brokers carrying the same name (e.g. Remax or Century 21) or will this be uniform across various brokerages?

Because she will be new to the field, what kind of commission fee / broker office expense arrangement should she looking for? We were thinking that the combination of lower office expense and lower % of the commission split (lower variable cost) was more apt for now.

Any specific broker she should be targeting? She hasn't made up her mind as to which location she should be focusing on but it maybe either Mississauga, Oakville, or North York (Yonge/Finch).

Thanks for any advice guys. Sorry if I raised simpleton questions but I figured I'd try to help her out a bit.

[rb]

My wife just passed her Phase 3 exam and is about to embark on a part-time realtor career.

Would the commission fee split vary amongst brokers carrying the same name (e.g. Remax or Century 21) or will this be uniform across various brokerages?

Because she will be new to the field, what kind of commission fee / broker office expense arrangement should she looking for? We were thinking that the combination of lower office expense and lower % of the commission split (lower variable cost) was more apt for now.

Any specific broker she should be targeting? She hasn't made up her mind as to which location she should be focusing on but it maybe either Mississauga, Oakville, or North York (Yonge/Finch).


Thanks for any advice guys. Sorry if I raised simpleton questions but I figured I'd try to help her out a bit.

Each office is indep. owned so they have their own splits

My office has no fee's for the first 6 months (199 per month after that ) and 95/5 splits

they are one of the cheaper brand names around (Sutton)

[alanbrenton]

Each office is indep. owned so they have their own splits

My office has no fee's for the first 6 months (199 per month after that ) and 95/5 splits

they are one of the cheaper brand names around (Sutton)

Thanks RB. The office fees looks very reasonable considering the commission split of 95/5. Which Sutton office in Mississauga do you work for RB?