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CPA for IT contractors and consultancies

Compliance and advisory for Canadian software developers, DevOps, cloud, cybersecurity, and data & AI consultants, from first setup to corporation wind-down.

Alex Teplov, CPA

The problems in contractor books are rarely just data-entry errors. They are assumptions that were never checked.

Alex Teplov, CPA  ·  Principal
Get in Touch View compliance packages
Handled directly by Alex Teplov, CPA. Responds within one business day.

Start from your situation

Choose the entry point that sounds most like your current file. Each leads to a focused page on what we look at and how it gets resolved.

First-year contractor

Left T4 employment and now dealing with business income, GST/HST, and tax set-asides.

Open file

Considering incorporation

Currently filing as a sole proprietor and weighing whether to incorporate before the next contract or fiscal year.

Open file

Incorporated contractor

Needs T2, owner compensation, GST/HST, and shareholder transactions to line up.

Open file

PSB risk review

Single-client, long-tenure, or agency contract facts need review before CRA asks.

Open file

Federal government contractor

On a long-tenure contract at one federal department in Ottawa or Gatineau, placed through a staffing agency.

Open file

U.S. clients

USD deposits, foreign invoices, exchange-rate support, and GST/HST export-service documentation.

Open file

Behind on books

Records are sitting in bank feeds, email, and receipts — or AI is handling bookkeeping but the output has not been reviewed by a CPA.

Open file

Switching accountants

Already have an accountant, but the file does not reflect IT contractor specifics: PSB exposure, agency GST/HST, or owner compensation.

Open file

Technical specialty

Software, DevOps, cybersecurity, cloud, and data/AI consultants with role-specific tax patterns.

Open file

Compliance packages

Three fixed-scope packages covering setup, ongoing compliance, and corporation wind-down for Canadian contractors. Every engagement is handled directly by Alex Teplov, CPA.

Launch

Business setup & onboarding

For contractors just starting out, recently incorporated, or operating without the registrations, bookkeeping, and opening records needed before recurring filings begin.

  • Business structure review
  • Federal and provincial tax registrations, including Revenu Québec where applicable
  • QuickBooks Online setup
  • Invoicing and expense tracking setup
  • Prior-year cleanup and opening balance sheet
Launch details
Run Most requested

Ongoing compliance

For incorporated contractors billing consistently who need bookkeeping, tax filings, instalments, and owner compensation decisions managed throughout the year.

  • Monthly bookkeeping, payroll where applicable, sales tax filings, and income tax instalment tracking
  • T2 corporate, CO-17 where applicable, and T1 personal tax returns
  • Salary vs. dividend planning and shareholder loan review
  • PSB risk fact review and CRA correspondence support
  • Month-end reports and year-end financial statements
Run details
Close

Corporation wind-down

For contractors stopping operations who need final filings, account closures, shareholder distributions, and clearance certificate questions handled in the right order.

  • Final T2 corporate return, CO-17 where applicable, and owner T1 coordination
  • Federal and provincial account closures, including Revenu Québec where applicable
  • Shareholder distribution and clearance certificate review
  • CRA clearance certificate coordination where needed
  • Dormant corporation nil T2 filings
Close details

Launch and Close are one-time engagements. Run is an ongoing retainer. Scope and fee confirmed at onboarding.

Common questions

A short read on the questions IT contractors ask most when their file is opened for the first time.

Do I need to be incorporated?
No. Teplov CPA works with sole proprietors filing T2125 schedules and incorporated IT contractors filing T2 corporate returns. If you are not incorporated yet, the decision can be reviewed before you add corporate complexity.
Which accounting software do you use?
We work in QuickBooks Online. If you are already on the platform, we connect to your existing file. If you are starting fresh, we set up the chart of accounts around contractor income, software costs, GST/HST, and owner draws.
Do you handle GST/HST registration and filings?
Yes. We handle GST/HST registration, periodic filings, and input tax credit tracking throughout the year. We also advise on when the registration threshold applies to your taxable revenue stream.
Do incorporated IT contractors need to charge GST/HST to the agency?
Usually, once the corporation is registered or required to register. For most businesses, CRA's small-supplier threshold is based on taxable supplies over a single calendar quarter or the previous four consecutive calendar quarters. Many full-time IT contracts cross the $30,000 threshold quickly, but the timing depends on invoice amounts and dates. Once registered, your corporation charges GST/HST on taxable Canadian invoices, the agency pays it into the corporate account, and the net tax is remitted to CRA after eligible input tax credits.
The agency pays my corporation GST/HST on top of my hourly rate. Is that extra income?
No. GST/HST paid into your corporate account is collected on behalf of CRA and must be reconciled on your next GST/HST return. Treating it as spendable income is one of the most common and costly mistakes for new incorporated contractors. The amount owed depends on your filing period and any eligible input tax credits.
Can you help with U.S. income from American clients?
Yes. U.S. client income is common for Canadian IT contractors. We help organize invoices, exchange rates, GST/HST treatment, and Canadian reporting so the income is not left as a vague bank deposit at year-end.
Can you help with PSB risk?
Yes. For incorporated contractors, we review the facts that matter: client concentration, control over work, tools and equipment, substitution rights, financial risk, and whether the arrangement looks independent in substance.
I have been on the same agency contract for more than a year. Do I have PSB risk?
Potentially. Long-tenure single-client contracts placed through a staffing agency are a higher-risk pattern for PSB classification. CRA can look at client concentration, degree of control, tools and equipment, substitution rights, and financial risk. The agency relationship does not automatically provide protection. A PSB fact review is worth doing before the contract renews.
Talk through your file

The decisions that affect this year's filings are made during the year, not at year-end

Share your business structure, clients, software setup, and the part of the file that feels least organized. Teplov CPA responds within one business day.

Talk Through My File