01 · Issue
A single agency or enterprise contract can create PSB risk even when invoices are issued through a corporation
IT Contractors
Accounting for independent IT contractors and incorporated consultants
CPA-led bookkeeping, tax planning, and compliance for Canadian software, cloud, DevOps, and infrastructure contractors.
How we help
Support is built around the contract facts, client mix, GST/HST obligations, and owner decisions that shape an independent IT practice.
- Service 01 Monthly bookkeeping
Bank and card activity reconciled monthly into CRA-ready records.
- Service 02 GST/HST compliance
Registration, returns, and input tax credits tracked on schedule.
- Service 03 Equipment and software tracking
Technology, subscriptions, and capital purchases categorized appropriately.
- Service 04 PSB monitoring
Contract facts reviewed against CRA's personal services business tests before renewal.
- Coordinating layer Compliance Roadmap
A single view of filing dates, tax reserves, and upcoming decisions.
The contractor operating view
Your tax file should reflect how the contract actually operates
A clean set of books starts with the relationship between the client, the corporation, and the work you control
- 01Protect contract independence
Keep the client-control facts, invoices, and work arrangement clear before a PSB concern becomes urgent
- 02Organize the operating costs
Separate business tools, equipment, subscriptions, and work-related expenses as they arise
- 03Plan the owner decisions
Use current records to set tax reserves and make salary or dividend decisions before year-end
Tax and bookkeeping issues to watch
Patterns that come up in practice for this role and that a generic small-business accountant may not be watching for.
02 · Issue
Computers, monitors, and workstations are capital property, so CCA, rather than a full current-year expense, usually applies
03 · Issue
U.S. clients and USD payments require clear GST/HST zero-rating, exchange-rate, and payment processor records
Related guides
Detailed breakdowns of the decisions that come up most often for this role.
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Should I Incorporate as an IT Contractor?
The tax, administration, PSB, and cash-flow factors behind the decision.
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Personal Services Business Risk for Incorporated IT Contractors
How CRA assesses contractor arrangements and the consequences of a PSB determination.
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GST/HST Registration for Canadian IT Contractors
The registration threshold, input tax credits, and retroactive liability risk.
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IT Contractors
Need accounting built around your business?
Share how you earn revenue, who delivers the work, your client location, business structure, and current books status. Teplov CPA responds within one business day.