Accounting Services For Personal Real Estate Corporations

NEW TAX LAWS ALLOW ONTARIO REALTORS
TO CUT THEIR TAX RATE FROM 53.53% TO 12.2%

With a Personal Real Estate Corporation (PREC)

Ontario Finally Allows Realtors To Incorporate

The ability of Ontario REALTORS to form Personal Real Estate Corporations (PRECs) comes from the Trust in Real Estate Services Act, 2020 (“TRESA”) and is governed primarily by Regulation 536/20 under the Act, which came into force on October 1, 2020.

As of that date, real estate salespeople and brokers may incorporate in Ontario and arrange for their self-employed revenue to be paid into a PREC. Many real estate professionals will choose to incorporate to take advantage of certain tax benefits. However, there is a lot to consider before you form a PREC.

Forming a PREC is a complex task with a number of considerations that may differ depending on every REALTORS own business situation. The advantages of forming a PREC can be significant, but only exist only if it is set up correctly in accordance with your business, family and personal circumstances.

If you are considering setting up a PREC, you should speak with a Tax Expert knowledgeable in accounting services for Personal Real Estate Corporations.

 

Personal Real Estate Corporations Provide
Tax Advantages For Realtors

Low Corporate Tax Rate

One of the greatest advantages incorporating is being able to leave money inside a corporation and pay only 12.2% corporate taxes instead of taking the income personally and being taxed at your personal tax rate which could be as high as 53.53%.

Income Splitting

Income splitting allows you to share income with family members. Income splitting strategies are specific to the corporation’s situation and can have negative implications when not done properly. Typically, the directors of the corporation and the accountant will make the decisions on such strategies as part of their annual tax planning.

Income Smoothing

One of the disadvantages of a sole proprietorship is that you must take all your earnings into personal income in the year in which you earn the commission. With a corporation you have the ability to smooth that income over a longer period of time. Since Canada has a marginal tax system avoiding peaks and valleys will lower your total tax burden.

Home and Auto Loans

It is possible to borrow income from your own corporation, which can be very tax effective. You can borrow money from your corporation for the purpose of purchasing a car or a house, but, you must pay the prescribed Canada Revenue Agency interest rate and set up the formal minutes for the loan.

Advanced Tax Strategies

There are a number of additional tax strategies that are available to corporations that are not available to sole proprietorships. Including but not limited to life insurance strategies, capital gain exceptions, holding companies and we endeavour to maximize the available tax deductions for our clients. We are able to reallocate out of pocket expenses to be deemed as a corporate expense and results in significant value added service to the client.

Tax Deferral

A corporation eligible for the small business deduction pays tax at 12.2% on its first $500,000 of taxable income. The remaining tax, which is paid by the shareholders upon receipt of dividends from the corporation, is deferred until dividends are paid. When dividends are paid the balance of the tax is levied on the Shareholder.

Bare Minimum

The Basic Incorporation Package

$495*

POPULAR

Standard

Includes Minutes and Shares

$795*

Small Business

Includes Website & Business Cards

$1,295*

Meet Our Happy Customers

CPA4IT Professional Corporation
4.8
Based on 215 reviews
CPA4IT
4.6
Based on 155 reviews
CPA4IT
4.9
Based on 60 reviews
I have been a customer of CPA4IT for more than 10 years and completely rely upon and trust their advice. It has been nothing but a great time.One more year added to the many of great service. Many thanks from a very happy customer.
Jousef Lofstrom
Jousef Lofstrom
14:14 12 Mar 24
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Facebook Sikkerhedsteam
Impressive and knowledgeable staff. Several value add propositions to help you ensure compliance and save you more than you pay in fees. Rachel was very professional and knowledgeable.
Warren Cheung
Warren Cheung
14:13 11 Mar 24
I have been a client with CPA4IT for the past 10 years and continue to be impressed with the CPA4IT team that has provided the ongoing accounting / tax planning needs for my incorporated business. CPA4IT’s focus on efficient communication, consultation and timely processing allows me to focus on the business services that I provide to my clients.
Peter T
Peter T
15:07 18 Feb 24
Good day everyone
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Mpumelelo Mps
Mpumelelo Mps
23:29 03 Feb 24
I've been a client since 1998 when I started consulting. Service is always top notch and they are very professional. Sure, you can find someone cheaper, but how great is there service? There tax planning is excellent and peace of mind knowing that you're working with one of the best Accounting firms.
Jason Charbonneau
Jason Charbonneau
22:28 03 Feb 24
I have been a client of CPA4IT for 30 years and it has served my business well. I have benefitted from an effective taxation strategy through advantageous revenue and expense determination. I worked in the US for 12 years and CPA4IT had specific counsel that benefitted my business tremendously. They always advise about and provide good mitigation procedures for CRA taxation changes. I have found their Webinars to be very helpful in explaining various concepts and details about taxation.
Gordon Hibrant
Gordon Hibrant
04:30 12 Jan 24
Colman Le Roux
Colman Le Roux
21:15 08 Jan 24
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Victoria Tanko
Victoria Tanko
17:02 31 Dec 23
So just finished my year end taxes. The one concern that I have is the turn around time for some of their work. They are always quick to respond to concerns. I was a first year Contract Project Manager. During this first year the many people that I have dealt with at CPA4IT have done a wonderful job of helping me to understand the many many things that I have to do as a business owner that I was not aware of. I would without a doubt recommend their services to anyone looking for Accounting services.
Mark Craig
Mark Craig
22:42 24 Dec 23
Found them through their online contractor vs permanent calculator. Got a free consultation and had all my questions answers. Will definitely recommend their service.
Yusuf AtHome
Yusuf AtHome
04:18 15 Dec 23
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Rio de Valentina
Rio de Valentina
19:00 13 Dec 23
I am a new customers, and I finally decided to subscribe to CPA4IT after 4 years of due diligence. They know their stuff. A lot of us try to save money filing corporate taxes, and I would say spending five thousand on CPA4IT a year is well worth every penny, I get much more saved on taxes by my math. Would highly recommend my fellow IT Businesses to consider moving their accountants to CPA4 IT - Rachel knows Corporate Taxes more than anyone else I have met.
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Zulfiqar Haider
19:41 12 Dec 23
I've been with CPA4IT for about a year and a half now and they are incredibly professional and kind!
Sathya Raghunathan
Sathya Raghunathan
15:33 07 Dec 23
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Frank Wu
22:03 27 Nov 23
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Sabastian George
19:11 19 Nov 23
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Esther Daniel
Esther Daniel
01:18 30 Oct 23
Great experience from the start to finish,
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Deborah Freshking
Deborah Freshking
16:58 21 Oct 23
I’ve been trading for the last few years but never felt I had the traders edge that I kept hearing about in terms of consistent results and an exact plan to work towards. Since I met Mrs Angela Nicholas, not only have my results changed but also my mindset towards what I’m doing.
Mrs Angela Nicholas has given me a whole new way of viewing the market so far, since depositing my $1,500 into my trading account, I have made two trades. I won on both and have made $12,000 each on my $1,500.The execution of my withdrawals are fast and without a single requote. I have done only two trades and I’m still doing more, but I am highly encouraged by the execution speed so far. Thank you so much Mrs Angela Nicholas, Contact her directly on Whatsapp: +1 (724) 638-9442 email: Nicholasangela319@gmail.com
Eric Khloe
Eric Khloe
00:01 07 Oct 23
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Rachael Coleen
Rachael Coleen
02:20 03 Oct 23
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Regis Mark
Regis Mark
05:53 29 Sep 23
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Door Tenele
Door Tenele
12:17 21 Sep 23
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Hellen Pat
Hellen Pat
18:39 18 Sep 23
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Brian D. Darr Darr
12:37 22 Aug 23
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Fiston Cornellio
Fiston Cornellio
19:20 10 Aug 23
I am using services of CA4IT for 9 years now.Their service is excellent: each small detail is discussed as needed, all my questions are answered, and the internal QC checks and verifies my tax return before submitting it CRA.The required documentation for USA IRS is taken care of, too.I strongly recommend it to any engineering or IT consultant that doing business in Canada or in USA.
Eugene L
Eugene L
12:57 01 Aug 23
I have been a client of CPA4IT for the last 12 years. They've made filing my corporate taxes every year a breeze and have always provided great advice when I've had questions.
James Young
James Young
12:47 24 Jul 23
Great work, I wouldn't be able to keep up with corporate taxes without them.
Nurdin Premji
Nurdin Premji
15:17 05 Jun 23
I have been with CPA4IT for 6 years and have very happy with their service. I would highly recommend them.
J Gill
J Gill
23:06 22 May 23
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Ntsikaa Xhamza
05:53 12 May 23
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Svetlana Barry
Svetlana Barry
14:40 08 May 23
I recommend the responsiveness accuracy and user friendly for tax filing with CRA. I have been a client for over 34 years. always fully satisfied.
Hamid Ullah
Hamid Ullah
21:28 01 May 23
I have requested Walls associate to prepare my taxes for business and personal taxes. I have found them very responsive and accurate with the filling. every year I never had any issue with my taxes and filing on time with high quality of work. The staff is very user friendly and helpful all the time.
Hamid Ullah
Hamid Ullah
21:24 01 May 23
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Thuli Priscilla
Thuli Priscilla
13:12 14 Apr 23
The service provided by CPA4IT is excellent and is above what you would expect from an accounting firm.Being based overseas, nothing is too hard for Michael and the team to resolve or assist with.Awesome service and support.
SuperLordFlashheart
SuperLordFlashheart
23:50 10 Apr 23
CPA4IT provided top notch service; actually they gave more that that. I could talk about their strong fundamentals but let’s be real those are “table stakes”. Where they excel is in providing advice, guidance, follow through and owning responsibility for their tasks.Owning a business was one of the most rewarding accomplishments of my professional life. And CPA4IT was a major factor in assuring that success. They gave excellent service from initiation to termination and every step in between. CPA4IT went beyond the role of service provider to the realm of amazing collaborators. In fact Satwinder and Karent gave some advice that if followed would have increased my success. Unfortunately due personal circumstances I was unable to take advantage of that counsel.I strongly recommend CPA4IT to all in need of a strong bookkeeping and accounting services “partner”.Thank you to all of the team with special regards to Satwinder, Karent, Maiko, Issac and Rachel.
Edmund S
Edmund S
12:36 28 Mar 23
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08:28 02 Jan 23
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Agunbiade Omolayo
Agunbiade Omolayo
13:22 16 Dec 22
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22:22 06 Dec 22
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Nathan Murphy
13:35 06 Dec 22
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Gci Ni Leh
13:09 05 Dec 22
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15:00 07 Nov 22
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Mhiz Pretty Bonny
03:02 29 Oct 22
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12:30 15 Oct 22
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Fagbemi Isreal
23:35 08 Oct 22
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Omooloruko Aperire
Omooloruko Aperire
11:38 16 Sep 22
This group is top notch don’t consider another !!!
Lisa Marie
Lisa Marie
01:15 09 Sep 22
I feel very safe again to invest my Bitcoin because I've found a Platform that i can trust for the first time in a while. Severally lost my funds on fake trading platforms, I must recommend Mrs Petra Louis the best Account manager. Petra Louis is truly one of a kind and will go above and beyond for her clients.. I made a profit of $48,200 with an investment of $3,500. She was also extremely helpful in coordinating the withdrawal process. You can reach her WhatsApp: +14803822178 Email:petralouis144@gmail.com
Sherif Olatunji
Sherif Olatunji
05:52 29 Aug 22
Timely, comprehensive and professional service in the setting up of a corporation, which includes answering any questions I had. Would recommend.
dribnif yaknow
dribnif yaknow
13:00 29 Jul 22
i really can't recommend her in 100 paragragh but in summary she regained and was able to help me from my financial
mess to a stable and financial balance. i invested my last 2000 dollars and i was restless because that was my last hope but
behold she was able to help me generate the sum of 24,000 dollars all within a week.i really can't stop thanking her and i
pray that God will crown her good work with everlasting happiness contact her for investment help via Email: whattsap: +1
8188500792
email: raymondmalia77@gmail.com.
Fubara Nathaniel
Fubara Nathaniel
01:47 19 Jul 22
Opportunities are very rare these days cause of the rate of spam existing on the net right now but when we find those who are real we should share there good deeds to prevent people from spam. I saw someone who made a write up about how she met this broker from US who provide her with the best trading signals and I took the risk. I started with just $500 she help me to trade with my investment and after 7 working days I made a withdrawal of $6300. I was so amazed I told her I was gonna refer her to a lot of people please contact her via her
Email: amandrakelly110@gmail.com
WhatsApp: +14053496544
You will be glad you did it.
Mhiz Esther
Mhiz Esther
00:59 16 Jun 22
I earned a lot from Mrs Jane Bradley platform, she have the best strategy in dealing with cryptocurrency, she has a notable personality putting all her best in everything she do from the reviews and post flying around the social media, you can see she has rescued a lot of people in terms of their finances, I recommend her for those looking for a legit broker she is ready to trade for you and show you your daily trade records with just your investment capital
thank you once again Jane Bradley for your support and everything you have done for me I'm indeed grateful.
Email: janebradley0147@gmail.com
WhatsApp contact: +1 (912) 504-0422
Nono Nolwazi Gabela
Nono Nolwazi Gabela
17:48 11 Jun 22
Please everyone, don't lose your investment in forex trade/Bitcoin.. Go with a proven legitimate trading expert that allows you unrestricted access to your account. I recommend Mrs Jane Bradley to anyone in need of a reliable account manager because she has really helped me and got me restored from previous loses and it's been cool all the way investing under her platform. I am making weekly Profit of $20,500 with an investment of $2000 Email: janebradley0147@gmail.com
WhatsApp +19125040422
Paseka Leisa
Paseka Leisa
13:40 02 Jun 22
I must confess that surely she is a skilled professional trader and the best among all, as her clients all said, I saw so many positive reviews about Mrs Susan Ryan, and she managed my account after I Invested $4,000 and got a successful withdrawal of $18,650 within seven days of my investment, "It always seems impossible until it’s done" with Mrs Susan Ryan your hard earned money is 100% secured and Safe You can contact her via Email: susanryan3221@gmail.com
WhatsApp +13523292265
Bo Itu Melo Mahloane
Bo Itu Melo Mahloane
10:30 01 May 22
WOW!! I'm still looking at my bank account with amazement, i remember few months back i had nothing i couldn't boast of 100 $ in my bank account cause i've lost my life-savings and pension to scammers, i had lost all hope in life..until MRS CHARLOTTE WAYNE came along, the man who changed my life totally. i had concluded that all account managers in groups were scammers but M proved me wrong, every time i apologize to him for doubting him from the start. Everyone needs to meet him he is the one, i urge you reading this not to conclude that every account manager are the same i propose you try MRS CHARLOTTE WAYNE and see for yourself before concluding. Reach her on
email charlottewayne303@gmail.co
whatsapp:+39 351 093 7250
Ali Samu Adagonye
Ali Samu Adagonye
18:52 14 Apr 22
Switched my trading to Mrs charlotte wayne FX. a few months ago after going through a lot of losses ,I invest with her and let her manage my account. Was so impressed with the service and I switched brokers to them. So far I invested $1500 and Earned $26,450 After 7days of investing and I’m getting used to their platform. Happy to continue trading with Mrs charlotte wayne FX, may God continued to bless you ma'am. You can also contact her if interested.
Email: charlottewayne303@gmail.com
WhatsApp +39 351-093-7250.
Aremu Azeez
Aremu Azeez
20:16 06 Apr 22
I saw so many people talking about a lady called Mrs. Taisha Carson. and i kept wondering if she is really an expert trader like they said and not a scammer like the others, then i contacted her and i was shocked and amazed that with just $1000 i invested, Mrs. Taisha Carson helped me managed my account and after 7 days of trading, i made my first withdrawal of $12,900. I�m so happy sharing this testimony with you all, you can contact her in any of this WhatsApp/email and make good profit.
Email:taishacarson021@gmail.com
Whatsapp: +1 (910) 502-3651
D Rayyanu Musa
D Rayyanu Musa
12:51 05 Mar 22
I had a free consultation with Rachel Stedman and was impressed with not only her knowledge on various subjects I brought, but also her patience explaining to me fine details of whose subjects while running small IT company. Highly recommended!
Oleg Ch.
Oleg Ch.
02:56 05 Mar 22
I started earning the day I took the courage to give a try, now am happy and looking good because I’ve found the best Trading platform. You can also monitor your trading account and make easy income as well with Binary investment. Contact Mrs Brenda William on WhatsApp and start: Email:brendawilliam784@gmail.com
WhatsApp: +1 (805) 491-5639
Itz Mary Jnr
Itz Mary Jnr
13:48 22 Feb 22
Never imagined getting so much profits within a short period of time , it happened surprisingly I got it , this is huge for me and super happy and excited for this win , it's a great start for me in line of trade, you been a genius trader Mrs Allen martha. You finally put a smile on my face , despite telling you my problems you didn't take advantage of me , thanks a lot Mrs Allen martha You can reach her Via:
Email: allenmartha897@gmail.com
WhatsApp: +1(302) 219-6094
Loveth Terry
Loveth Terry
17:07 26 Jan 22
I am proud to recommend Mrs Brenda William for a selfless and reliable investment service, I was constantly looking for a reliable platform to invest and my friend introduced me to her platform and I realized this is the best platform to invest on because she maintains discipline in her investment,relationship and strategies to ensure the complete transparency and credibility of her investors. if you want to be financially successful invest in her platform now, Contact her Via
Email: brendawilliam784@gmail.com
Whatsapp: +1 (805) 491-5639
Usman Ahmad
Usman Ahmad
09:53 22 Jan 22
Easy to work with. Excellent service received to incorporate my business with no wasted communication, hands off. The free webinars are very informative.
Jordan M
Jordan M
13:24 20 Jan 22
Magnifique je vais dire sans avoir doute
Alidou Mohamed
Alidou Mohamed
06:37 05 Jan 22
Professional, reliable, and knowing I can lean on the entire team has been a great time-saver and has made accounting less stressful for me. Been doing business with the team for years.
A. J
A. J
14:00 02 Dec 21
I have been working with CPA4IT since 2005. I have witnessed their ongoing evolution from a traditional accounting company to a modern cloud-based accounting firm that incorporates the use of online tools and apps like Dext, Xero, and Quickbooks Online.Andrew and his team are knowledgeable, professional, and very responsive. The free webinars and articles published in their blog are always relevant and full of helpful information.If you want to simplify your bookkeeping and accounting process and get great advice, you should definitively consider CPA4IT.
Damian Fernandez
Damian Fernandez
04:30 18 Nov 21
I’ve been dealing with bad breath for years nothing seem working, I see my dentist every 3 months for cleanings,i brush and floss several times a day gum and mints do not help, tried all the bad breath products- pro-fresh, cloys, went to my doctor he told me to take a multivitamin. went to a couple of ent’s- prescribed me some nasal spray, even my brilliant dentist couldn’t help me, so I just gave up & tried to accept I would have bad breath forever, even though I brushed & flossed at least twice every day, so i suggested I try A herbal doctor call Dr.uwenbo, that i saw people testifying about his great work,I contacted him via (dr.uwenboherbalhome@gmail.com) he prepared the herbs immediately and sent it to me through courier service, After sticking to him for a couple of days as i was instructed my bad breath was totally cured... You can also call/whatsapp +2349052309005 ,
@dr.uwenbo_herb_home on Instagram and get the herbal remedy.. So I recommend it for everyone suffering and needs help…
Kenny Vaddy
Kenny Vaddy
22:31 05 Oct 21
I've been a customer of CPA4IT for over 10 years and have receive excellent service. Providing me guidance when need and clear, accurate tax preparations and reviews. I've worked with Satwinder for some time now and appreciate his knowledge and clarity in addressing my needs.
John R McMaster
John R McMaster
21:43 27 Sep 21
CPA4IT works perfectly for my small business! I would highly recommend them. Their service is excellent and they provide suggestions and recommendation.
JB Shredhead
JB Shredhead
19:07 27 Sep 21
I love there online aspect of their work. Highly recommended. I really like not having to go in person to meet with the accountant to share documents or sign things.
Peter Molnar
Peter Molnar
12:04 27 Sep 21
Experienced and professional. They are well versed in all tax and financial planing
Bechara Sebaaly
Bechara Sebaaly
12:33 10 Sep 21
Excellent accounting firm for small and medium tech businesses. Highly recommend to give them a call if you are in need of services like this!
Ryan Vanderveen
Ryan Vanderveen
18:46 25 Aug 21
Loved the virtual CX experience.
Iris Howat
Iris Howat
15:06 04 Aug 21
I have been Wall and Associates client since 1997 -- that is almost 24 years.Wall has a proven process/check list of what documents to submit, how to securely submit so that they can perform their due diligence and cross check the data.Since wall has many IT consultants as their clients, they have a good grip eligible expenses and their permissible CRA limits.Benchmarking prepared for my income/expenses as compare to rest of their clients in graphical form provide a good understanding of my standing within IT field.The final outputs provided to the client is well organized and Checklist of date-wise action items are provided, which is very helpful.All though the manager in-charge is very knowledgeable, it goes thru a secondary process of quality checks. CRA seems to be liking the final submission, because it passes CRA assessment in no-time and without any red flags.I plan to continue with Wall for the year-end submission for CRA.If you are an IT consultant and wish to have no hassle CRA process, I recommend Wall & Associates as their accountants.
Harish Sonara
Harish Sonara
17:41 02 Jul 21
I was concerned about my taxes. CPA4IT Team and Rachel Stedman were professional, considerate and answered my questions easily and clearly. I would recommend CPA4IT.
Alexandria Dove
Alexandria Dove
18:27 20 Jun 21
I incorporated in 2008 and engaged cpa4it at that time. Andrew and his team have performed superbly.
Rick Lawton
Rick Lawton
20:59 14 Jun 21
I have used CA4IT accounting services since 2005, when I started consulting. They handled my incorporation and all the year end process, with satisfaction. They are knowledgeable about IT consulting business. Over the years, they streamlined accounting document handling, which made easy to send over year end documentation and transactions.
George Fraenkel
George Fraenkel
01:01 11 Mar 21
I have been getting first class accounting support from Andrew Wall and the CPA4IT team for 7 years. They walked me through creating my incorporated consulting business, prepared my corporate taxes, provided easy to follow checklists for me to follow, helped me grow into business in the USA, answered any questions that came up when CRA asked for something new I didn't understand. CPA4IT is top shelf when working with online tools like Xero and Hubdoc.
Jim Boucher
Jim Boucher
22:53 22 Dec 20
Staff very knowledgeable and professional
Paulete Psi
Paulete Psi
19:15 14 Dec 20
I have been using the service for 20 years.
Friendly service, resourceful and on time.
Claude Peck
Claude Peck
16:35 04 Dec 20
Customer for over 10 years.
Maurizio Calabrese
Maurizio Calabrese
21:34 01 Dec 20
I always like the information CPA4IT provides and their willingness to work with me.😊I have been a client for 18 years now!
Donald A Sheppard
Donald A Sheppard
22:25 09 Nov 20
I have worked with both Andrew and George Wall for over 22 years and I always appreciated their professional approach and advice.
Narcisa Platica
Narcisa Platica
19:17 09 Nov 20
Professionalism quick response friendly service
Arlene Bomal
Arlene Bomal
17:45 09 Nov 20
I have worked with CPA4IT for 9 years. They have helped me to grow and be more knowledgeable re: accounting and I trust their services.
Deb S
Deb S
14:38 16 Oct 20
I have been a client of Wall and Associates for 22 years and have found them to be very helpful, professional and easy to talk to. They are ready to assist in any way when required. I highly recommend Wall and Associates.
Tracey Warmington
Tracey Warmington
08:50 15 Oct 20
I have been a client of Wall and Associates for 22 years and have found them to be very helpful, professional and easy to talk to. They are ready to assist in any way when required. I highly recommend Wall and Associates.
tracey warmington
tracey warmington
08:49 15 Oct 20
I've been a customer for over 20 years which should in itself speak for my satisfaction with CPA4IT. Working as an independent contractor for over 20 years, they have provided me with exceptional service and have no doubt saved me more money in taxes then the cost of the service. Having experts on staff ensuring that my taxes were accurate and filed properly gives me a great sense of security. The support I received when the CRA conducted an audit of my claimed expenses was excellent and relieved the stress I would have otherwise experienced during a review by the CRA.
Chuck Goldsmith
Chuck Goldsmith
23:45 01 Sep 20
I have been a client of CA4IT for approximately 27 years and have always found them to be very professional and easy to talk to. As well as saving me money with their aggressive approach, they have provided useful education in areas such as investing and networking, The benefits of being a client of CA4IT continues to increase every year, with new services.I highly recommend them.
Bill David
Bill David
21:12 26 Aug 20
Making Accounting FUN & Mutually Beneficial works for me
George Wall
George Wall
11:49 22 Aug 20
We have been using CPA4IT as our accountant since 2015 and we are very satisfied.They helped us with our incorporation and continue to provide excellent and timely service. I especially appreciate their very useful and practical webinars that help us keep appraised on new development.
Ronald Surette
Ronald Surette
23:41 10 Jun 20
I have been a CPA4IT customer for the past 3 years since starting my own contracting business. Starting the business with them was very straightforward and they helped guide me through all the steps to make sure everything was setup properly. They have continued to provide excellent service preparing my taxes and have always been available to answer any questions I may have. I would highly recommend them.
Craig Malton
Craig Malton
13:22 08 Jun 20
CPA4IT has taken care of my corporate and personal tax preperation, since I started my company in 2016 and they have always provided excellent service. Most recently they assisted me with navigating an issue concerning the impact of COVID19 on my business and personally. Andrew Wall was able guide me through the ambiguity on the CRA website and at the end of our meeting, I was confident that I had all the information that I needed to resolve my issue.
Nathalia Dennis - Priganica
Nathalia Dennis - Priganica
18:52 02 Jun 20
I've been CPA4IT client for the last 9 years. They've been a tremendous asset to my business and have made year end processes straight forward and relatively painless. The accounting team is top notch and is always quick to answer any questions. They frequently offer webinars on financial and tax planning which I have found very useful over the years. I highly recommend the team at CPA4IT for all of your accounting needs.
James Young
James Young
13:08 13 May 20
I've been using CA4IT (Wall & Associates), to handle both my corporate and financial affairs, for over 20 years. Not much more I need to tell you - I wouldn't have continued using their services had I not been completely satisfied. I highly recommend this company.
Graham Gillies
Graham Gillies
15:22 11 May 20
I have been a client of Wall and Associates for 20 years. With so many accounting firms to choose from, the following is what sets W&A apart.Free Advice:• Accounting firms are always pressured to maximize the billing time. Sometimes this becomes a deterrent to call your accountant for the fear of getting a hefty bill.• To overcome this trap of making bad decisions, the founder George Wall has always been available as a free re-source, to be a sounding board to run through ideas.• Andrew Wall who has taken over from his dad, is continuing to be available for guidance and advice. His initiative to have webinars to address common questions during COVID-19 to avoid charging clients individually is an example that he cares about the welfare of his clientsAudit insurance program:• The bench marking W&A does makes sure that the financial statements are reasonable comparing expenses to their client base. They are proactive is not allowing anything that is illegal.• When someone gets audited by CRA, some accounting firms add insult to injury, by charging a lot of fees to deal with CRA.• Wall & Associates have this awesome audit insurance program where in when you contribute $ 250 a year, in the event you get audited by CRA, they will use the money from that fund to defend you from such audits, which even though I have never had a reason to be audited, gives me peace of mind.Portal:• Instead of wasting papers the financial statements & T4’s are posted in a secure client portal• Starting this year W&A have gone Green! They do not mail the flashy accounting package anymore, which sits on a binder collecting dust. Instead the financial statements and all other document are uploaded to the portalFees:• Over the last 20 years, a few years I have had issues a few years with a sticker shock when there is staff turnover or errors. which are inevitable for any accounting firm btw.• This issue is magnified when the staff is paid based on the chargeable hours. Therefore, the accountants are pressured to charge for every single minute that they spend on a file including every email that they receive and respond.• A client does not control the efficiency of an accounting firm therefore the fees should be reflective of what the market can bare. By stifling communication with the accountants, the chances of errors are only increased.• Having said that, whenever I had an over run of my fees due to staff turnover or errors both the Walls have been reasonable. Instead of being reactive, there should be a control before billing if the fees are reasonable when the service provided was comparative to the previous year.Overall:• When I benchmark the fees some of my peers pay for a mom and pop operation, I find that I am paying a premium.• At the end of the day you get what you pay for! The reason why I am giving Wall and Associates a five star is because I see there is value in their service that I get from them!
Ravi Adhi
Ravi Adhi
17:22 05 May 20
I have been with CA4It for more than 10 years. I am satisfied with their knowledge and services. Highly recommend if you are an I.T. consultant.
Jenny Gan
Jenny Gan
20:24 27 Apr 20
I have been a CPA4IT customer for the past 10 years when they incorporated my business for me. From performing exceptional accounting services for both my business and I personally to making referrals to staffing agencies to providing timely updates and advice on the global pandemic, George, Andrew, Michael, and team are awesome, consistently going above and beyond my expectations. Everyone at CPA4IT is friendly, helpful, supportive, and extremely knowledgeable. Outstanding service!! Thanks for all you do.
Gabe Deremiens
Gabe Deremiens
13:59 24 Apr 20
I have worked with this firm for almost 20 years now. They are extremely proactive in handling every issue. In addition they strive to stay current with your business needs and to remain a leading edge company.I highly recommend them.
Paul Weingarten
Paul Weingarten
18:06 20 Apr 20
CPA4it has been very helpful to their clients with providing information during all the confusion regarding government support for businesses during the COVID-19 pandemic. Someone always gets back to me quickly with answers to my questions. I really appreciate the Facebook group for Self-Employed people and all the updates provided regularly for businesses. I have found this very helpful and appreciate their support now and throughout the year. They have provided excellent service to me and my family members. Thanks to you all!We have been clients of CPA4IT for over 30 years and they have helped, advised and supported us immensely with our business and all our accounting requirements. Their advice, knowledge and service has been invaluable in running and growing our business. Our son is now also a client and also receiving excellent service and support. The staff are all extremely knowledgeable, friendly, helpful and professional. We are very grateful to have worked with such an excellent accounting firm for all these years. Thank you!
Susan Petkovsek
Susan Petkovsek
23:09 16 Apr 20
I have been using thier services since 2015. Very pleased with their work. Great timely advise and accurate accounting. Pro active in looking out for tax changes and informing clients.
Anand Sankaran
Anand Sankaran
22:49 16 Apr 20
Michael
Michael
21:07 16 Apr 20
I have been a long time customer of CPA4IT. The latest addition of the Facebook site was an excellent addition for information sharing to their online services. Very helpful!
Dave Wilkin
Dave Wilkin
17:45 16 Apr 20
I've been with CPA4IT since 2002 and has been very satisfied with the overall service as well as personal attention when required.During these trying times that all of us are going through, the Self Employed Support Network that they started has really been beneficial to many members.The information on the Self Employed Support Network that was provided by CPA4IT as well as members has been invaluable.Thank you very much and keep up the good work. We will get through this!
Mark Naidoo
Mark Naidoo
17:28 16 Apr 20
Andrew and the team go wayyy out of their eay for you and your business. The responsiveness, webinars and FB group are all great examples. 6 stars
Mark Treleaven
Mark Treleaven
17:24 16 Apr 20
I have been working with CPA4IT for a few months and have found the service excellent and very engaging. I love the speedy responses and the attention to detail that is provided to me.
Robin Pamayah
Robin Pamayah
17:21 16 Apr 20
I've been a client of CPA4IT for over 10 years and I truly appreciate the professional, efficient and helpful service provided to consultants like me.
Juan-Carlos Bobadilla
Juan-Carlos Bobadilla
17:17 16 Apr 20
Great service and advice for IT contractors
Matthew Rath
Matthew Rath
17:15 16 Apr 20
Great boutique/niche accounting firm for IT professionals. They are very fast to respond, very professional. They even took on a tax audit for FREE and came out on top. 100% recommended
Fernando Ferrer
Fernando Ferrer
17:03 16 Apr 20
I am loving the digital experience and how you are using technology to streamline your CX.
Iris Howat
Iris Howat
14:18 13 Mar 20
CPA4IT provides excellent accounting, tax and financial planning services.
Victoria Arkhurst
Victoria Arkhurst
01:46 13 Mar 20
I have been working with CPA4IT since 2013, and they are best for IT consultants. My accountant is very knowledgeable and very efficient in preparing the financial statements. The most important of all is my T2 is filed on time without any hassle. A big Thank You for a job well done!!!
Eve Pang
Eve Pang
04:20 10 Mar 20
CPA4IT has supported my small business since 2015 with accurate advices and pro actively addressing all my tax responsibilities, CPP, etc. With high a skilled team I am very confident to rely on CPA4IT to administrate my business gross income, withstanding my personal financial life. I recommend them for all business sizes.
Adilson Colombo
Adilson Colombo
22:45 03 Mar 20
I have been working with CPA4IT for the past 12 months and I value their partnership. They have a very knowledgeable staff and enable you to focus on your core work by taking the overall responsibility of accounting (a very important aspect for a IT consultant). They have in-house experts who helped me to incorporate, handle my day-day accounting and provide tax related support and help. Another great feature of CPA4IT is they look for opportunities to empower with the right kind of knowledge (they conduct webinars and are very receptive to email queries) which enables you to take the right kind of decision. I would recommend CPA4IT to any IT consultant for handling accounting and tax aspect of their incorporation.
shashidharan sukumaran
shashidharan sukumaran
15:50 25 Feb 20
We were recommended to Wall and Associates (CA4IT) many years ago, and have been very satisfied with their services ever since. During this time they handled our incorporation, and completed our corporate and personal income tax returns. We have worked with Andrew and he has always exceeded our expectations.
gary chuntz
gary chuntz
17:41 18 Feb 20
Wonderful service and understanding from all the staff.
Ozren Stambuk
Ozren Stambuk
19:00 03 Feb 20
Wall & Associates have been my accountants for 15 years and I continue to be very happy with their services. My company was "reviewed" by CRA in 2019; and with their ( Michael's ) assistance & guidance, the result was ".... no further action is required....." . Highly recommend if you're an I.T. consultant.
Mauro Sci
Mauro Sci
23:57 21 Jan 20
Always a pleasure working with the staff at CPA4IT.  They are Prompt, Courteous and Professional.
Robert Johnson
Robert Johnson
04:03 14 Jan 20
I would strongly recommend CPA4IT for all your accounting services. I have been using CPA4IT for over 30 years for all my accounting services and I’m still with them. I’m very satisfied and happy with services they provide. CPA4IT are very professional, courteous and they provide friendly service for all your accounting needs. They also provide a lots of online and seminars if you’re looking to learn more about your accounting how to or if you need some help with your financial planning.So, please go ahead and check out CPA4IT and tell them that Gurmail Samra sent you.
Gurmail Samra
Gurmail Samra
21:56 08 Jan 20
I work with this company for more than 4 years and I am very pleased with their service.They managed accounting process very professionally and with attention to the details. They also do an excellent job in providing webinars and learning sessions to educate their clients .
Homayoun Pakravan
Homayoun Pakravan
14:03 08 Jan 20
Even if we are not a customer yet, I received guidance from them that is super valuable. Recommended!
Daniel S.
Daniel S.
13:13 18 Dec 19
I've been a customer since my business was incorporated. They helped with the incorporation and since then have acted as valued consultants as we progressed. Their service is always friendly, helpful and detail-oriented.
Andrew Jones (Haddion)
Andrew Jones (Haddion)
21:30 13 Dec 19
I am a client of CA4IT then CPA4IT for 10 years. I have worked successfully with George Wall then Andrew Wall and the team. I am happy to recommend them for their strong expertise and excellent customer service.
Joseph Yao
Joseph Yao
15:18 03 Dec 19
I have been a client for more than 15 years. I'm always pleased with their service and support. I've been dealing directly with Andrew for many years. He is very detailed and willing to take all the time I need in understanding the preparation of my tax documents.
Barry Faibish
Barry Faibish
00:24 03 Dec 19
For the last 24 years, I have benefited immensely from the mentorship, accounting and investing services from George & now Andrew Wall and Bob Novoselac and the rest of their great team. I trust them like family. Thank you.
Philip Bondi
Philip Bondi
22:53 15 Nov 19
I have been their client for a little over a year, I am new to contracting, their advise and help have been invaluable for me, so far they have done an amazing job with me as their client
Eduardo Cruz
Eduardo Cruz
15:38 04 Nov 19
Overall, a very capable and efficient accounting firm to partner with as an IT company or IT contractor. Best of all, they love technology so there's little to no wasted paper or back/forth in-person meetings.
Swinburne Charles
Swinburne Charles
05:22 22 Oct 19
I have been working with CAP4IT for many years. I am very satisfied with the services that I have been getting over the years. Especially I am very pleased with responsiveness of staff and on-line document sharing features.
Nasser Serajeddini
Nasser Serajeddini
20:20 09 Sep 19
Great service! I did not have the slightest clue about how to incorporate, and I needed to do it fast. Then Rachel Stedman from CPA4IT Accounting came to my rescue, she explained to me the do's and don'ts of it, and helped me through the whole process. Thank you very much!
Zenahir Marron
Zenahir Marron
18:31 16 Aug 19
I've been their customer for a long time. Very knowledgeable and professional service.
Dragan
Dragan
21:10 23 Jul 19
I started out on the lowest price package 5 years ago and in retrospect that was an error because doing a lot of the work yourself while also learning how to run a business (I was just starting out) was stressful, although they did try to steer me in the right directions.I’m an expert in my field but certainly not accounting. I switched to their top-end service for full cloud accounting and bookkeeping, and holy smokes, the delta in price was paid for in just a few months as not losing receipts and CA4IT getting an understanding of how my business and (what I thought were) personal expenditures intermixed resulted in amazing “dividends”.I can’t ever go back to the old way. Spending a few weekends a year of my life digging for papers and punching in illegible receipts? No thanks!
Rob Bryce
Rob Bryce
18:20 12 Jul 19
My IT company has been using the services of CA4IT, now CPA4T for almost 10 years.The interactions and services provided by CPA4IT have been, but are not limited to:- setting up the corporation- guidance for gathering and recording business transactions- hosting their client functions, where a networking opportunity panned out royally- introducing new tools (eg., QBO, Receiptbank) to help a small company do its accounting,- providing in a very quick way the balance sheet, business income tax, and small business yearend closeout activitiesMost importantly the interactions I have had with the professional staff, delivering their valued services in a timely, responsive, friendly way, have always been fabulous.I am very pleased and satisfied with the CPA4IT. I would and have, without reservation, recommend their services to others.President mach IT Associates Inc.
Marion Dimand
Marion Dimand
17:27 26 Jun 19
Another excellent year of support from the team...I have used CPA4IT since I establish my company 5 years ago. Their service and responsiveness to my needs has been outstanding. A highly recommended organization !
Katrantzidis George
Katrantzidis George
19:21 29 May 19
Over the last 6 years I have experienced nothing but courteous and professional services from the entire organization.
Tim Millward
Tim Millward
18:34 16 May 19
I’ve been a long-time client who truly appreciates the professional, efficient and helpful service provided year after year.
Bev Breslow
Bev Breslow
12:41 15 May 19
I have been a client of CPA4IT for 16 years and I appreciate the relationship I have with the staff of this firm. Everybody I have worked with at CPA4IT is professional, personable and knowledegable. I've recommended them over the years to any who will listen. Highly recommended!
Keith Schoen
Keith Schoen
13:24 13 May 19
Great customer service and they know what they are doing! I would recommend this company to anyone that requires a piece of mind! Thanks for your continuing support! Cheers
RFerati
RFerati
15:05 02 May 19
I have been using CPA4IT for over 10 years, and my interactions from the receptionist to George and Andrew Wall was exceptional. Very professional and know the Tax Law inside-out and they give you the best advice, that is fully compliant. Affordable, courteous, friendly and knowledgeable define the team at CPA4IT! Overall, very impressed with Rachel, Robert, Syed Raza and Satwinder Bahia and the many good people I have dealt with, over the past many years.
Mengistu Mariam
Mengistu Mariam
18:50 29 Apr 19
Very professional, I been with them for my personal and corporate accounting for over 20 years, will have no hesitations recommending them.
Ramesh Talreja
Ramesh Talreja
15:21 26 Apr 19
I was incorporated many years ago but could not handle the accounting details nor the accounting fees.I went back to contract work in 2018 (incorporated) and a fellow IT Consultant recommended CA4IT. I am so glad to have received that referral!!Onboarding, education, in person and online meetings and emails with Rachel, Michael, Oksana and Jennifer have been tremendously helpful. I paid for the top package to help me get through the first year - and I have no regrets, only gratitude!!
Robin Lazo
Robin Lazo
14:44 16 Apr 19
I have used CPA4IT for 4 years now. My most recent tax return was done in practically no time at all and I think they get me a better refund than many places. They know me by name and by face, give me good advice, and even remember how many grand-babies I have! Thanks very much CPA4IT team!
Darlene Gardner
Darlene Gardner
02:40 15 Apr 19
I started working with CPA4IT this year and I have to say that the only thing I regret is that I didn't do it earlier. Their expertise and knowledge has allowed me to focus more on my business and less in the accounting part of it. It's been a great experience and I highly recommend them.
Rodolfo Romero Consulting
Rodolfo Romero Consulting
14:48 29 Mar 19
I have been a client of CPA4IT (formerly Wall & Associates) for over 25 years now. The company has grown dramatically in size and expertise; even moving seamlessly from one generation of management to the next. I've been a witness to their ability to keep up with the times by introducing new technology to streamline and simplify the customer experience. If you are an IT contractor looking for a company to handle your corporate tax reporting needs and/or provide business direction advice then this is the one.
Ken Szreier - Onix
Ken Szreier - Onix
15:20 27 Mar 19
A+ Love working with Rachel
andy
andy
23:20 22 Mar 19
I have been a client of CPA4IT for more than twenty-five year and I value highly the relationship I have with this firm. Beyond routine annual returns, I believe that the forward-thinking tax- and retirement-planning that we have done together has been hugely beneficial. Everybody I have worked with at CPA4IT is professional, personable and knowledegable. Highly recommended!
K Fearman
K Fearman
22:09 12 Mar 19
I have been using PA4IT for the past 20 years and it has made things very efficient for me when it comes to managing my company's reporting requirements and tax management. They have great technology in place to make submissions and communication simple and fast. They are very responsive when questions or issues come up.
John Seagram
John Seagram
02:01 11 Mar 19
I find the service and the advice they provide is second to none, and most importantly I get value out of our relationship. I would recommend their services.
Raymond Furley
Raymond Furley
02:19 28 Feb 19
Great service, very knowledgeable people who are willing to go the extra mile. Both the accountant and the bookkeeper are amazing.
Marcelo Luz
Marcelo Luz
20:35 25 Feb 19
Had my into call to this CPA4IT. I was very impressed with all the information that was shared in that call and with how they operate. When I'm ready to incorporate, I'll be using them.
Steven Granger
Steven Granger
18:11 23 Feb 19
I had a free consultation session with CPA4IT last week and was very impressed with the time they took to explain the details in a manner that I understood. I am seriously considering the use of their services for my corporation.
Partha Lahiri
Partha Lahiri
13:56 21 Feb 19
We are a small IT consultancy that since the 1990s has used CPA4IT's services to prepare our corporate tax return. Their advice has always been timely, solid and professional. We have no concerns with their staff or work. We've found their comparison statistics with other IT clients, with respect to expense categories particularly useful. And something a general accounting firm would not be able to provide you. They guided us through a CRA audit successfully (everyone apparently gets to enjoy one of these sooner or later). Strongly recommended.
Evan Gamblin
Evan Gamblin
23:00 06 Feb 19
A peace of mind service for IT contractors like me. Yet you not only get rid of paperworks but also get more money in your pocket. Definitely a way to go.
Ivan Filatov
Ivan Filatov
14:59 05 Feb 19
Great staff support to clients. CPA4IT representative gives me great convenience in providing support using current technology, mobile phone call, email information, presentation documents. The representative takes her time to explain and walk me through opportunities, cost, benefit and assure me the kind of support they will provide. Definitely give me a peace of mind. She also disclose the cost and offers a very reasonable cost. Definitely a go to professional especially if you are want to set up a business for the first time
Eric Chow
Eric Chow
02:47 02 Feb 19
If you are a consultant or business owner in the IT space, this is the company you want working for you. They are the best because they specialize here. Always available and providing valuable information to keep your business most profitable. I've been a client for two years now and have never had such wonderful support from the entire organization. Very glad I made the switch and call CPA4IT my home.
Greg Furtney
Greg Furtney
23:53 30 Jan 19
I have worked with Wall and Associates/CPA4IT since they assisted me with the incorporation of my business in 2010. They have provided helpful advice over the years and I continue to use the firm as I begin my 10th fiscal year. They have made creative use of technology to educate clients and are responsive and helpful.
Lou Clements
Lou Clements
14:37 21 Dec 18
I have been working with CPA4IT for over 7 years now and I would like to say that they are the best. They provide excellent and very professional service. If you have any question, you can call or email them and you would get a response right away. They have excellent knowledge of tax and accounting areas and provide the best advice possible. In addition to their very professional services I have found them to be very friendly and they always welcome you with a smile. I would have given them much more than 5 stars but that was all I could give on this site. Highly recommended!!!
Munib Butt
Munib Butt
00:36 07 Dec 18
I have used CA4IT for both my business and personal taxes for almost 20 years. I have always found them to be professional, helpful, responsive, experienced and knowledgeable. I have appreciated their advice and guidance in tax and financial planning. Their work is highly accurate. I have never had a return questioned by the CRA. I would recommend them without hesitation.
Laurie Dullaart
Laurie Dullaart
16:03 03 Dec 18
Excellent services...always!
Paula Teixeira Leite
Paula Teixeira Leite
22:24 02 Dec 18
Rachel S., is the person you must talk to. She is confident, knowledgeable and very thoughtful for a new small business owner like myself. I have spoken to several CPAs for my business and by far she is the best.
Kenneth S
Kenneth S
15:15 29 Nov 18
Been working with CPA4IT for over 2 years now. Great service, Highly recommended for IT contractors!
Brent Simpson
Brent Simpson
15:09 17 Nov 18
We have been with CPA4IT for 20 years since they first set us up for incorporation. They have been a model of consistency and reliability. In the last 2 years, Satwinder has been planning and delivering our year-end package and he has been very professional, knowledgeable, helpful and accomodating with our needs.
RC Ting
RC Ting
18:03 04 Nov 18
If only all firms were like CPA4IT! For many years they have provided exceptional service. Professional, knowledgeable, courteous and always available to help you promptly and unequivocally. Based on my experience the advice and guidance they provide companies and individuals is valuable and accurate. It truly is a pleasure and privilege to work with the entire CPA4IT team and wonderful Wall and Associates family. I would definitely recommend them!
Michael Fazari
Michael Fazari
13:30 23 Oct 18
I have been using CA4IT for my corporation accounting and tax submission since 1999. They have always provided professional and valuable advice. I always recommend them to other independent IT contractors.
Dave Hunsburger
Dave Hunsburger
13:31 22 Oct 18
I've been using CA4IT for 20 years and I've been very pleased with their service. All staff are professional and courteous. Highly recommended!
George K P
George K P
15:03 20 Oct 18
I'm extremely pleased with the high caliber services that I receive from CPA4IT, and especially Satwinder Bahia. I have been with them from the beginning of my consulting career and was extremely grateful for the guidance they provided as I entered the world of subcontracting. I moved to Ottawa a few years ago, but happily retained their services and can work with them remotely with great ease. They work in a professional manner, look out for the best interests of me and my company, and do their best to meet the tight deadlines that I'm often faced with. I highly recommend their services to any IT professional.
Adam Khodadeen
Adam Khodadeen
19:38 15 Oct 18
David Davies
David Davies
16:47 09 Oct 18
Fantastic accounting and support for my IT business. They brought me through everything I needed to know to get my corporation off the ground. Special thanks to Michael Terminesi for answering all the questions I had along the way.
James Henderson
James Henderson
16:57 01 Oct 18
Great personality and a pleasant to work with!
Jasmine Bayani
Jasmine Bayani
05:31 18 Sep 18
I am very pleased with the level of professionalism provided by CPA4IT especially Satwinder Bahia. He is always available to answer my questions and patiently guide me to the process. Big thanks to Ed Matthew, Rachel and Maiko as well. Looking forward to more years of partnership. I highly recommend CPA4IT to my peers.
M Capistrano
M Capistrano
17:00 17 Sep 18
I have partnered with CPA4IT for over 12 years and can recommend them as an accounting firm with great service, knowledgeable team and committed to solving client challenges.
Cadastre Ross
Cadastre Ross
14:11 03 Sep 18
Wall & Associates have been my corporate accountants for close to 20 years, from assisting with incorporation through annual tax preparations and filings. Whenever questions have arisen, they have addressed them promptly and professionally. I highly recommend them.
Tony Arnold
Tony Arnold
19:49 20 Aug 18
CA4IT is a dependable and highly qualified accounting firm focused on clients working in the technology sector. In our opinion, they are number one in the industry! Dedicated, accurate and great to work with.
SHIRLEY KING
SHIRLEY KING
17:52 13 Aug 18
Andrew is a great guy and super genuine. He's an influencer in the Quickbooks Community. He has helped me overcome many of my challenges.
Bob Wang
Bob Wang
23:59 31 Jul 18
CPA4IT has been my accountant and tax preparation service for 20 years! Through the years, the quality of their work has been exemplary. Their financial planning advice has positioned me well for retirement. Highly recommended.
Robert Charuk
Robert Charuk
12:48 24 Jul 18
Excellend service. Walked me through all the stages of incorporation. Ready for business.
Nicole Heaton
Nicole Heaton
21:31 02 Jul 18
I have been a client of CA4IT for many years. I had/have nothing but the most positive experience in having the team handle & manage my annual accounting and taxes work. They are efficient, timely, and flawless in their work from start to finish. Ms. Rachel Stedman in particular, is the most wonderful person to work with. She does not only explain, execute and deliver everything perfectly, but is always welcoming with the biggest smile.I couldn't have asked for a better experience and I highly recommend them for both business and personal work. Quality at its finest.
Bilal Rasheed
Bilal Rasheed
15:12 10 Apr 18
I've been using CA4IT for 2 years, and the experience has been excellent. My accountant did an excellent job introducing me to the world of independent contracting, is very responsive, and has completed both tax returns well before deadlines. I'm very happy with the service provided.
Frank
Frank
14:18 30 Mar 18
Wall & Assoc have been doing my corporate taxes for 20 years. Over those years, I've worked closely with Andrew, Oksana & Michael. They're all dedicated to their profession they reply promptly by email or phone throughout the year if I need any further assistance. No hesitation in highly recommending them for all your company's accounting needs.
Mauro
Mauro
00:17 23 Mar 18
Our firm has been with CA4IT for over 5 years and I have pleased year over year. They are experts and professional.
Ghassan Akrouche
Ghassan Akrouche
02:04 11 Mar 18
I have been using the services of CA4IT since 2008. I have only good things to say about the services provided in filing my annual corporate tax returns. Every staff member has always been very professional, efficient and courteous at all times, in particular I would like to mention my appreciation of the professional Accounting and Financial Services provided by my Account Manager Mr. Satwinder Bahia. I have absolutely no hesitation in recommending CA4IT as your preferred accounting and financial services provider for all your personal and corporate taxation matters.
Aubrey D'Silva
Aubrey D'Silva
17:50 12 Feb 18
I've been a client of CA4IT for years. They are very professional. Mr. George Wall & Andrew Wall together with my account manager help me plan ahead for my business. They have many clients, yet they will make themselves available to listen to my needs & help me resolve my issues. On one recent occasion in which I need assistance on payroll issues, Mr Teminesi helped me go through my books. Because of his speedy assistance, I could meet my reporting deadline. I really appreciate that! My account manager also use state of the art software to analyze how my business is doing years over years. This helps me better guage my business focus. ca4it has a lot of experience in helping IT companies with their book-keeping, accounting & tax planning, I would recommend them to IT companies & companies doing other businesses as well.
yk chiu
yk chiu
07:04 13 Jul 17
I am starting to get the feeling that current clients are taken for granted. Unfortunately the service at the firm has definitely declined over the years. I may have to finally move on.
Vik Patel
Vik Patel
17:45 02 May 17
CA4IT has been my accountant for 9 years. They have been with me since the beginning. The set up my corp, provided annual guidance and bench marking and provided me support to grow my business. I think of them as a true partner resource. Thanks George and Andrew
Luis Tadeo Kalaw
Luis Tadeo Kalaw
13:10 01 Mar 17
CA4IT has been our corporate and personal accounting firm for more than two decades.Working with Wall has been of tremendous benefit to us and our company. Wall stands behind its’ work and provides audit representation. An audit can cost up to $10,000 in accounting time and fees. This alone has saved us $20,000 given that our company has been audited twice over a 20-year period.It’s hugely reassuring to have a trustworthy team with extensive expertise, up-to date information and best practice strategies advising us on tax minimization.CA4IT has 30 years of clients’ expenses categorized and can advise a client when expenses in any category are outside an acceptable range, in the same way that Revenue Canada uses algorithms to identify outliers which can trigger an audit.Over the years we have saved more than the cost of the firm’s accounting services.For independent contractors and entrepreneurs with incorporated businesses, engaging CA4IT is a wise investment that will pay returns.
Cathy Harris
Cathy Harris
17:46 21 Dec 16
Great to work with!
nic furlong
nic furlong
19:38 28 Jun 16
The CA4IT team is the best, very knowledgeable and professional. I have enjoyed the incomparable services of CA4IT for many years.
Ken Fearman
Ken Fearman
17:10 03 May 15
These guys are worth every penny. You never know how much tax you are really supposed to pay until you meet real Pro's and watch them do their thing.I signed up with these guys to create my first ever corporation and they've held my hand through every step of the process of creating my first corp and filing my first return.I was utterly shocked with how much tax I was able to save once I knew what I could and could not claim as an expense.The knowledge that they have is what we pay for but the knowledge that they impart to us as customers is the greatest benefit. I haven't been audited yet but I feel extremely well prepared for that day when it comes and I know I've got a team of serious intellects backing my business.
Holt Mansfield
Holt Mansfield
21:20 24 Oct 13
Wall and Associates have helped me navigate the set-up and reporting concerns for two years now, which allowed me to focus on my business. I've found their client website and virtual meetings to be extremely helpful, as I travel quite a bit and it is not possible to meet in person.
Frederick Ip
Frederick Ip
13:08 23 Oct 13
Not just an accounting firm!CA4IT / Wall and Associates is a team of highly skilled professionals who will review your financial statements in details and come up with sound advice on how to organize and present your yearly tax statements. I have been with them for almost 10 years and I can recommend them without hesitation.
François Ouellette
François Ouellette
23:10 02 Oct 13
Wall and Associates handled my incorporation and all my ongoing corporate financial filing. They're focused on IT professionals, so they've given me great direction and advice on corporate structure, tax planning, tax minimization; everything I need to have someone else worry about! I've directed other IT pros to W&A and recommend them for anyone in this space.
Brad Brown
Brad Brown
14:42 05 Jul 13
My Partner has been going to George for a few years.Lets just say he's more than happy. Now all I have to do is to start making some money so they can help me to 🙂
Delia Bauer
Delia Bauer
19:56 22 Jun 13
I have known George and Andrew for number of years and they are professional with genuine passion to help, I have used CA4IT services for my personal and corporate tax filling. I am satisfied with the service.I would recommend talking to George or Andrew for your tax filling needs.
gimhana muthukumarana
gimhana muthukumarana
19:42 07 Jun 13
My wife and I had the fortunate experience of working with George Wall, a principal of Wall and Associates. George treated us to breakfast in the early morning hours on a number of occasions to advise us on my wife's business. As a result, my wife saw the value of moving away from a offset printing world to more of a digital printing focus.Part of George's mantra is to help others in the hopes that others will one day return his generosity, He uses the Pyramid of Power approach as a framework for self-reflection and goal-setting.If any of you are clients or thinking of becoming a client, I strongly recommend that you request a Pyramid of Power session with George.
Dan Eng
Dan Eng
19:28 04 Jun 13
CA4IT is a premium-priced Accounting Firm. Their expertise is with IT Contractors like myself.For $2000 - $3000 they offer "superior service" as well as all the expected accounting services such as filing your T2, T4, GST etc...This is 5xs more than a basic corporate tax service, and 10xs more than using software...So for that amount of money you would expect a single point of contact who knows your tax needs inside an out.Unfortunately at CA4IT you will deal with several different people, none of whom can provide a clear strategy to reduce your taxes. You will be left doing most of the work yourself. It also often takes weeks for them to followup. This is unacceptable when the CRA is calling.They are nice people, but unable to offer a level of service that justifies their fees.My experience with CA4IT was to overpay for poor service and I would not recommend them to anyone.
Jon McGowan
Jon McGowan
21:17 24 Jan 13

PREC GUIDE

When structuring a business, realtors face many decisions about how to best set up their companies. Is a sole proprietorship, partnership, or incorporation the best option? Are you trapped into a specific model as your business evolves? How can you set yourself up for the best tax situation possible? Our PREC Guide was designed to help both fledgling companies and established realtors navigate their financial planning so that they make the most of their time and investment.

We're here to help!

CPA4IT focuses specifically on maximizing your financial benefits to help you have the security to grow and improve your business. Our services include all the important aspects of your finances, such as:

You should always keep a record of legal documents as well as past tax returns and other vital documents like income statements and balance sheets. Everything we handle, we keep in a secure file digital vault.

Tax laws frequently change, so rather than risk a misstep, it’s important to hire a knowledgeable representative that is familiar with your industry. At CPA4IT we stay up-to-date on our practices and we attend and speak at some of the largest accounting conferences in the world.

An accountant has plenty of financial experience to guide you on important decisions. We have over a century of combined experience helping small businesses manage their finances and generate success.

Why Hire a Tax Accountant?

If you plan to manage your finances on your own, you open your business up to a high potential for errors that could cost you a lot. An experienced accountant can take care of all your financial responsibilities to put you in a healthy financial spot.

At CPA4IT we can manage your finances and generate a financial legacy.

As a family-owned business, we take pride in helping small businesses grow. If you would like to schedule a free consultation with a small business tax accountant at our firm, call us today at 1-800-465-7532.

Your Personal Real Estate Corporation

Is a legal entry

It is seperate from you

It can own property, insurance
policies, and make investments.

It owns the real estate business
and you work for the PREC

It can keep any money that you do
not require for daily personal expenses
and use that money for other
investment purposes

It owes and pays taxes and files its
own tax returns, and other filings such
as HST and payroll submissions

It will need to decide how to
distribute money to you and
possibly to your family members

Is forming a personal real estate
corporation right for you?

There are a number of factors to consider when deciding to form a PREC. It is strongly advised to work with a financial professional that provides accounting services for Personal Real Estate Corporations and is knowledgeable on the many tax strategies that are available to realtors and can determine if forming a PREC is right for your personal and business situation.

When beginning to think about whether forming a PREC is the right decision for you, consider the following questions

Frequently Asked Questions

The existence of a separate corporate entity (the PREC) that receives business income allows that corporation the ability to distribute its revenues and income in more ways than an individual can. The PREC regulations allow family members (defined broadly to include blended families), being children, parents and spouses, to own non-voting, non-equity shares of the PREC. The controlling Registrant (called the “controlling shareholder” in the PREC Regulation) can own voting, equity shares. The PREC can thus allocate its business income to employees (including the controlling Registrant, family members and others) as salary and issue dividends to any shareholder of the PREC. The cumulative effect of such income splitting on the taxes payable (in both the long and short term) by the controllingRegistrant, the PREC and those shareholders depends on many factors and tax advice f rom an accountant or lawyer should be sought to ensure you get the tax consequence you wish. The tax rules are complicated and splitting income could result in more tax being levied.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

Yes, a PREC is a regular Ontario Business Corporation Act business corporation and while there are limits on its ability to receive compensation for a trade in real estate, there are no requirements that it ref rain f rom carrying on other activities, such as passive investing. There may be tax and other implications to doing so however and you should consult with a lawyer or accountant for tax advice.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

The PREC is an additional separate entity or person in the eyes of the law. It can be sued and since it will be providing the services of the controlling Registrant, your insurance broker(s) should be consulted with respect to appropriate insurance coverage for the PREC in addition to any existing insurance an individualREALTOR® may have.RECO has provided guidance on this issue, which can be found here: https://www.reco.on.ca/precs-ads/

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

The PREC may not receive any compensation from a trade in real estate or trade in real estate unless its controlling shareholder is a Registrant with RECO under the Trust and Real Estate Services Act (“TRESA”). The PREC itself need not be a Registrant. However the Registrant is required to provide appropriate notice to RECO if the Registrant utilizes a PREC. RECO has indicated in its guidance how notice is to be provided here:https://www.reco.on.ca/precs-ads/

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

There are no limitations or specific requirements with respect to the name of a PREC other than those imposed on any business corporation incorporated or continued under the Ontario Business Corporations Act. The name must meet the normal rules for corporate names and should not suggest that the PREC itself is trading in real estate. An example of an appropriate name would be the individual Registrant’s name followed by a “Professional Real Estate Corporation”. For example: “Jane Doe Professional Real Estate Corporation”.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

The TRESA regulations do not require any of criteria for a corporation to be a PREC as defined in TRESA to be included in the Articles of Incorporation of that corporation. You should consult with your lawyer on whether doing so would provide more advantages than disadvantages in your circumstances. While doing so provides clarity and likely prevents inadvertent changes that would disqualify your PREC, there may be other reasons that this would be undesirable. RECO’s guidance on PRECs do not address this issue, but could be amended over time, and is found here: https://www.reco.on.ca/precs-ads/

A PREC does not need to be licensed. If you transfer to a different brokerage, your PREC will need to enter into a new agreement with the brokerage which meets the requirements found in TRESA and the regulations and give appropriate notice. The current notice instructions have provided by RECO at: https://www.reco.on.ca/precs-ads/

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

Members of your family, which includes your spouse, children, a trust for a minor child or children (under 18 years of age) and parents. The definitions of who a spouse, child and parent is are fairly broad. The definition of spouse is “a person to whom the shareholder is married or with whom the shareholder is living in a conjugal relationship outside marriage.” The definition of a child includes one you have “demonstrated a settled intention to treat as a child of his or her family, except under an arrangement where the child is placed for valuable consideration in a foster home by a person having lawful custody.” The definition of a parent includes a person who has “demonstrated a settled intention to treat [you] as a child of his or her family, except under an arrangement where the child is placed for valuable consideration in a foster home by a person having lawful custody.” In addition, a trust for minor (under 18) children can own non-equity shares of a PREC.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

Yes. However the name of your PREC must meet the normal requirements for a corporation, which includes the requirement that it be distinct and not be confusingly similar to another corporation’s name. This means your other team members may not use the same name or a confusingly similar name. You will therefore need to distinguish your PREC’s name from any name other team members choose for their PRECs.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

No. This question is likely based upon a misunderstanding of what a PREC is. A group of REALTORS cannot together form and use a single PREC. The Regulations contemplate an individual realtor forming his or her own PREC. Each PREC must be controlled only by one (1) individual REALTOR and (with the exception of a REALTOR who is also a family member and then only with respect to non-equity shares) you cannot make another REALTOR a shareholder of your PREC. The PREC regime exempts the PREC from registration in exchange for the ability of RECO to identify and discipline one, and only one, controlling Registrant for that PREC in the event the PREC is accused of inappropriate behaviour. Please note however that this does not preclude teams f from working together. Individual REALTORS can continue to work together even if one or all of them utilize PRECs, but their contractual arrangements with each other and their brokerage may need to be adjusted.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

It depends on whether you are a Registrant or not. A non-equity shareholder that is a Registrant is entitled to trade in real estate. A non-voting shareholder in a PREC is not given any special status under TRESA. That individual does not become a Registrant. The PREC itself does not become a Registrant with RECO. The PREC is exempt from the prohibition against receiving compensation for trading in real estate, but only if it meets all of the rules in the regulations, which effectively require it to provide only the controlling Registrant’s services when trading in real estate. A non-equity shareholder that is not a Registrant gains no additional abilities or rights as a result of owning shares in someone else’s PREC. If the non-voting shareholder is a registrant, a salesperson or a broker, she or he can trade in real estate. A non-equity shareholder that is not a Registrant may, as he or she always could, engage in trades in real estate that are exempt under section 5 of the Act f om the prohibitions against trading real estate. For example, if the non-voting shareholder meets all of the requirements set out in subsection 5(h) he or she may be able to trade “on the person’s own account, in respect of the person’s interest in real estate”. 

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

The PREC does not need to register with RECO, but is a normal business corporation and will have all of the normal obligations of a corporation. Government fees include:

There is a fee (currently $300) to file articles of incorporation under the OBCA. It is recommended that professional legal and accounting guidance be obtained in the setup and registration of same, which will incur additional professional fees. Furthermore, all corporations, including PRECs, are required to file an annual corporate return, which notifies the government that the corporation is still active, and provides updates to any change of address or other details of the corporation. The filing fee is nominal, but if legal or accounting professionals are utilized to file same, there will be additional professional fees to consider. Finally, all corporations, including PRECs, are also required to file annual corporate tax returns which would incur a filing fee and associated professional fees for accounting advice and support in relation to same.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

A PREC is not obligated to pay out all of the revenue or income it generates in the same financial year. Whether that results in a material tax deferral is dependent on the factual circumstances of the PREC, its controlling shareholder (the Registrant) and the other shareholders. Advice from a lawyer and/or an accountant is strongly advised.

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Yes, it must meet the same criteria at a minimum as the PREC itself. Please consult your lawyer for further advice on how to do that and on structuring the holding corporation.

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TRESA and its regulations do not prohibit such an arrangement, provided the Brokerage is prepared to agree to do so and the agreement with the Brokerage appropriately deals with this possibility. CPA4IT asked RECO to confirm this view and RECO’s response can be found here: https://www.reco.on.ca/precs-ads/

It is just as important to consider how the REALTOR’s own arrangements and those with his or her Brokerage are structured to ensure those accomplish the desired tax consequences. There are a number of possible scenarios to consider.

The payment of a commission from a deal that was closed before: (a) the incorporation of the PREC and (b) the entry into an independent contract for services between the PREC and the brokerage should generally be made to the REALTOR. The payment of a commission in these circumstances would only be made to the PREC if the REALTOR chooses to sell and assign their accounts receivable to their PREC and amends the contract with his or her brokerage for payment in accordance with this assignment of receivables. Since the PREC would have to pay the REALTOR the fair market value of these receivables to avoid adverse tax consequences, we do not anticipate that a REALTOR would enjoy any material tax benefit from a sale of their receivables to their PREC.

The payment of a commission from a deal that closed after: (a) the incorporation of the PREC and (b) the entry into an independent contract for services between the PREC and the brokerage would generally be made to the PREC on the general principle that the commission is only fully earned at the time of the closing. At that time, the contract for services between the REALTOR and the brokerage will have been replaced by an appropriate contract for services between the PREC and the brokerage. The precise terms of a REALTOR’s pre-existing contract with the brokerage may impact this analysis.

This second scenario however raises the other important issue of whether the Canada Revenue Agency will accept that the full amount of the commission revenue is that of the PREC if the service to the client was partially provided before the PREC even existed. The answer to that will depend on the facts, the timing and the documentation of each transaction, including the specific provisions in the agreement between the PREC and the brokerage. If the Canada Revenue Agency is unwilling to accept the full amount of the payments as revenue of the PREC, a full tax deferral may not be achieved. Advice from your tax advisors on whether this approach is possible for you and what documentation is appropriate is highly recommended. Advice from a lawyer when entering into the agreement with your brokerage, particularly if you have this particular concern, is also recommended.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

The services of a REALTOR commence with the signing of a listing or representation agreement with the client. This applies whether the client is a seller or buyer, landlord or tenant, or any other person seeking to trade in real estate. The work performed by the REALTOR between the signing of that agency agreement and the time the commission becomes payable is the REALTOR’s work-in-progress.

A REALTOR may sell their work-in-progress to their PREC. If the PREC issues shares to the REALTOR as payment of all or part of the purchase price of the work-in-progress, the REALTOR and the PREC may jointly elect that the sale price of the work-in-progress is generally an amount between the cost amount of the work-in-progress and the fair market value of the work-in-progress. The lower limit of the cost amount of the work-in-progress will be increased if the portion of the sale price paid by the PREC in a form other than shares exceeds this cost amount.

The cost amount of the work-in-progress to the REALTOR is generally simply the out-of-pocket costs you have incurred in relation to a particular client to that point in time. This may include photography costs, advertising costs, listing fees, and mileage. In most cases, it should not include any amount for the time spent by the REALTOR. If it is possible to elect that the sale of work-in-progress to a PREC occur for tax purposes at the cost amount, that means that the commission revenue less the applicable cost amount for that transaction will be PREC revenue. The PREC would claim in those ideal circumstances, as an expense, the cost amount that will, in turn, be paid to theREALTOR as a reimbursement of the tax-deductible expenses incurred by the REALTOR prior to the incorporation of the PREC.

Advice from your tax advisors on whether this approach is possible for you and what documentation is appropriate is very important. There are very specific tax rules for the valuation of work-in-progress of a professional business for which you should seek the advice of a tax lawyer or accountant. For example, there is a possibility that the fair market value of the work-in-progress could be lower than the cost amount. This may arise if the closing of the transaction was conditional on various factors, such as financing, due diligence, home inspections, etc. If that is the case, you may be required to elect the lower of the two amounts. In addition, there may be Harmonized Sales Tax implications. Most importantly, the Canada Revenue Agency election form referred to above (currently Form T2057) must be filed on or before the earlier date upon which either the REALTOR or the PREC is required to file an income tax return for the year in which the sale of work-in-progress occurs.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

CPA4IT has passed along this question to RECO for its more definitive guidance and will update this FAQ with a link to RECO’s guidance once that is published.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

The Canada Revenue Agency rarely provides advice on the impact of changes to legislation and regulation that it did not initiate, particularly those of provincial legislatures. It will, however, respond to technical interpretation requests if all of the necessary individual facts are provided, including all of the individual circumstances and details of the contractual relationships. You may wish to consult with a lawyer on whether you should seek such a technical interpretation.

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While your corporation carries out a profession, the term “professional corporation” is specifically defined in the Income Tax Act at subsection 248(1) as “a corporation that carries on the professional practice of an accountant, dentist, lawyer, medical doctor, veterinarian or chiropractor.” The term is defined solely to force members of those professions to have their corporations use a calendar year-end for tax purposes. So there is no advantage to being a professional corporation under the Income Tax Act.

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It is true that if a business is determined by the CRA to be a personal services business, amongst other adverse tax implications, its income would be disqualified from being eligible for the small business deduction. The definition is found in subsection 125 of the Income Tax Act:

“personal services business” carried on by a corporation in a taxation year means a business of providing services where

(a) an individual who performs services on behalf of the corporation (in this definition and paragraph 18(1)(p) referred to as an “incorporated employee”), or

(b) any person related to the incorporated employee is a specified shareholder of the corporation and the incorporated employee would reasonably be regarded as an officer or employee of the person or partnership to whom or to which the services were provided but for the existence of the corporation, unless

(c) the corporation employs in the business throughout the year more than five full-time employees, or

(d) the amount paid or payable to the corporation in the year for the services are received or receivable by it from a corporation with which it was associated in the year;

this somewhat complex and technical definition requires a clear understanding of who the “person or partnership to who or to which the services were provided but for the existence of the corporation” is. That person should be the brokerage.

Generally, that means it is important you not be in a relationship or act in such a way that causes you to “be regarded as an officer or employee” of the brokerage or their clients. We expect that the majority of REALTORS intend to be independent contractors and not “employees” of their brokerages. If you are not clear whether you are or not, you should consult a lawyer.

There may be some of you who are officers or employees of your brokerage or client(s) for legitimate reasons and your lawyer and accountant should work through the consequences and potential changes to your status with you. You may need to weigh the advantages of being an officer or employee against any potentially advantageous tax advantages.

What can be confusing is the use of the word “employee’ in that subsection. This is because TRESA and the Regulation also use the word “employ” in describing the relationship between REALTORS and their brokerages. The specific definition in TRESA of that word “employ” is very specific and does not necessarily require a REALTOR to be an “employee” within the meaning of subsection. It encompasses REALTORS being an independent contractor.

Whether you are an “employee” or independent contractor depends on how your various contracts are structured and many other aspects of your business activities. That should not be a new issue for most of you and you should continue to work with your tax advisors to ensure you qualify for the tax status desired.

If you have any further questions about our accounting services for Personal Real Estate Corporations (PREC) please book a free consultation.

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