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Who We Are – CA4IT Background |
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Forms of Organization |
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Contracting Direct - Risks |
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Reduce Audit Risk and Minimize Taxes |
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Additional Financial Strategies |
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CA4IT, Chartered Accountants for Information
Technologists |
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Specializing in IT Since 1984 |
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Offices across Canada |
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In Toronto
- Wall & Associates –
Founder |
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Wall & Associates is ISO 9001 Certified |
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Largest organization in Canada representing the
independent professional with thousands of clients on retainer |
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Significantly Reduce Your Taxes |
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Build A Big Corporate Retirement Fund |
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Get A Tax Free Loan |
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Receive Tax Free Retirement Dividends |
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Smooth Income |
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Additional Tax/Financial Strategies Available |
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Click here to see your potential tax savings |
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Protect Personal Assets |
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Your company provides you with limited liability. |
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Increase Your Marketability |
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Many large customers and IT staffing agencies
prefer to deal only with incorporated IT contractors, and not sole
proprietor IT contractors. |
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No intermediary results in appearance of greater
control which can increase PSC (Personal Service Corporation) Risk |
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Risk of non-payment by direct client |
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Eliminates opportunities to work with major
users that only contract through IT staffing agencies |
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Contracting through IT agencies develops strong
relationships leading to more IT contract marketing opportunities and other
IT contracting support |
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PSC Risk is the greatest CRA (Canada Revenue
Agency) threat facing incorporated IT consultants. |
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CRA is looking for PSC’s or any situation where
they can prove the contractor is not a true “independent business”. |
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Should CRA (formerly Revenue Canada) determine
that your IT consulting company is a PSC, you could be faced with
personal/corporate income tax reassessments exceeding $100,000 ! |
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CA4IT, since its origins in 1984, has been
championing the income tax rights of incorporated IT professionals. |
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In the 1980’s, many accounting firms actually
turned away incorporated IT professionals as clients, as these accounting
firms were themselves afraid of PSC risk. |
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CA4IT has fought and won all of its major PSC
cases against CRA. |
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CA4IT has developed a proprietary 66 page
document for CRA called “CA4IT Clients Are Not PSC’s. |
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Pre-Wiebe Door |
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Few independent contractors – mostly employees |
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1986 Wiebe Door Criteria of: |
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degree of supervision and control |
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ownership of tools |
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risk of profit or loss |
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integral part of process |
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Incorporation versus Sole Proprietor: |
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Control Test – what to do vs. how to do it |
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Ownership of Tools Test – who supplies? |
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Chance of Profit or Loss – risk assumed? |
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Integration Test – integral part of client’s
business or an accessory? |
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Detailed written contract |
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Trail blazing IT contractor tax strategies
combined with audit representation insurance |
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Financial Benchmarking against CA4IT database |
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Proprietary financial freedom program |
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Free
no-obligation consultation |
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In-house paralegal firm to incorporate at cost
if you purchase one year of accounting bookkeeping and complete document
management services |
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Free seminars to minimize accounting costs and
help contractors market themselves |
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Free online training and FAQ |
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Web-based newsletter, seminars, industry links,
etc. |
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Make CA4IT the firm you benchmark your
accountant against |
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Contact your local CA4IT representative or visit
www.CA4IT.com for more information |
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Phone: 416-487-4300 or 1-800-465-7532 |
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Email: CustomerService@CA4IT.com |
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Thank you! |
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Notes