How to Become an Independent Contractor and Not an Employee

Why should you be an independent contractor and not an employee?

Independent contractors in Canada have many more tax write-offs available to them and a much lower income tax rate than employees.

This video will show you how to modify your employment agreement so that you can be treated as an independent contractor for tax purposes.

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Table of contents

00:27 - Independent Contractor vs. Employee Differences
00:46 - Contract/Agreement Factors
01:04 - Control Factor
01:34 - Tools and Equipment Factor
01:57 - Financial Risk Factor
02:31 - Opportunity for Profit Factor
02:56 - Most Important Factor

Disclaimer:

The information provided in this video is intended to provide general information. The information does not take into account your personal situation and is not intended to be used without consultation from accounting and financial professionals. Allan Madan and Madan Chartered Accountant will not be held liable for any problems that arise from the usage of the information provided in this video.