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offers professional contracting services,

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Presentation on theme: "offers professional contracting services,"— Presentation transcript:

1

2 offers professional contracting services,
Job Works Inc. offers professional contracting services, a process that will legally transition an employee to a subcontractor for the purpose of reducing a workers’s taxes and increasing their take-home pay. Offers Businesses the opportunity to eliminate the headaches and large costs of payroll. This legal structure is a Win-Win!

3 Kustom Design Professional Services , A specialized accounting firm
JobWorks Inc. works directly with Kustom Design Professional Services , A specialized accounting firm and Squire Law Firm, a legal firm specializing in tax.

4 Professional Contract Services
These Professional Contract Services administered by JobWorks Inc. are fully compliant with the guidelines of the Canada Revenue Agency and the Income Tax Act. Within the guidelines of the Income Tax Act, parties are allowed to engage in contract services, making the Employer a work provider and the Employee an owner and director of an incorporation that provides contract services.

5 What can Job Works do for you?
LESS MORE Employee and payroll related costs for companies Tax burden for employees Company profits Employee Take-Home Pay

6 Advantages to Client / Employer:
Save 10% to 25% on your employee costs Reduce your accounting tasks by 15% to 50% Eliminate CPP, EI, WCB payments plus other payroll taxes Potential for Longer worker retention Your Team Members can build a better financial future More budget and time to focus on building core business

7 Advantages to Employee/Subcontractor:
Pay much lower taxes Higher expense deductions Utilization of dividends Income splitting Higher take-home pay Professional service access Utilization of shareholder loans

8 Some Quick Numbers for a Client / Employer:
Payroll Cost of $100,000 actually costs a business anywhere from $115,000-$125,000 (CPP,EI,WCB,Stats,VacationPay, Benefits, ETC) Same Cost With Job Works = $106,500 Savings =$8,500 - $18,500 on every $100,000 of Payroll

9 Some Quick Numbers for a Subcontractor:
For an Employee who makes $100,000, the actual take home is $64,000 - $72,000 (Depending on Province) With Job Works the Contractor could take home $80,000 - $90,000 (Depending on Dividends, Shareholder Loans, income Splitting, Etc.)

10 Sub-contractor (Corporation)
NORMAL STRUCTURE No more: CPP EI WCB Vacation Pay CLIENT EMPLOYEE Fee Paid by Client; Separate Contract Work as a Business: -Business Expenses -PHSP -Regular Planning NEW STRUCTURE Job Works Inc. Job Works Inc. Sub-contractor (Corporation)

11 EMPLOYEE / SUBCONTRACTOR
Parties Involved CLIENT Agrees to provide the opportunity for the worker to perform the duties related to their areas of expertise for an agreed upon rate of compensation for a specified period of time. EMPLOYEE / SUBCONTRACTOR Ceases to be an employee by definition and is now a contracted worker to the work provider through JobWorks. JOBWORKS INC. Assumes the role of providing the worker the opportunity to generate revenue with the worker and the work provider.

12 Services covered by Job Works:
For CLIENTS Services covered by Job Works: Assistance with administration related to the transition of the employee to subcontractor Cost of Incorporation if subcontractor makes $100,000 annually, otherwise, client or subcontractor will be charged Administration and accounting related only to subcontractor’s compensation or pay Consultation with tax and accounting specialists.

13 Services NOT covered by Job Works:
For CLIENTS Services NOT covered by Job Works: Client’s accounting costs not related to subcontractor’s compensation or pay such as bookkeeping, general accounting, AR/AP Client’s accounting costs related to payroll for employees not signed up with Job Works Client’s corporate tax returns, year ends, GST and other government required documents (However, Packages are available through Kustom Design.)

14 For EMPLOYEES / SUBCONTRACTORS Services covered by Job Works:
Year End accounting review and adjustments Corporate tax returns (Federal and Provincial) Annual Financial Statements Annual Corporate Resolutions for Year End and Accountant GST Returns Annual T-Slip and Summary Filing Annual Returns Personal Tax Return Strategic Planning Incorporation (if subcontractor earns $100,000 annually, otherwise client or subcontractor will be charged)

15 For EMPLOYEES / SUBCONTRACTORS Services NOT covered by Job Works:
Monthly Bookkeeping * Audits Other legal and accounting work $75 per month – special pricing for Job Works’ subcontractors. Regular price for bookkeeping is $100. Kustom Design Business Packages are available for Kustomized Services with further discounts.

16 THANK YOU!!! A True Win–Win! Job Works Inc. #102, 221 18th Street SE
Calgary AB T2E 6J5 Phone: THANK YOU!!!


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