Bill Watkins is a Chartered ProfessionalAccountant. He carried on a professional business as a tax consultant for 12years. By the end of 2019, the practice had grown very large. Bill wasoverworked and under pressure to hire additional staff or take a partner. Hewas interested in education and several years earlier had contracted with apublisher to write a book on taxation for university students. Because of thepressures of his practice, this project made little progress. To optimize his work life, Bill decided toclose his professional practice and enter into an arrangement with Anthony& Anthony, a national firm of Chartered Professional Accountants. Accordingto the agreement, he would work a minimum of 600 hours per year for the firm;he would also be free to pursue his writing and other interests. He wouldprovide the 600 hours mainly during the winter months and would not be expectedat the office every day of the week. Anthony & Anthony made aformal announcement in the newspaper that Bill was now associated with theirfirm and provided him with business cards stating both his name and the firm's.The firm did not give him a specific title, though most of its employees hadone, whatever their level. The firm did provide him with an office (of the samesize as was given to partners) and a secretary at no cost to him. As a tax consultant, Bill metwith the clients of the firm and corresponded with them under the firm'sletterhead. Jobs were assigned to him by any partner who required his services.Usually, he charged any time spent on a client directly to the particularpartner's account; that partner, in turn, billed the client and collected thefees. Anthony & Anthony chargedclients for Bill's time at $150 per hour. The agreement stated that he was tobe paid $100 for each hour charged to a client, whether the client paid the feeor not. At the end of each month, he prepared an invoice requesting that thefirm pay $100 for each hour charged that month. Throughout the year, Billpaid for his own parking and for his own subscriptions to several tax services,the latter being necessary for him to carry out his duties. Whenever the firm held asocial function, Bill was invited. In 2020, he gave three speeches to variousbusiness groups and was always introduced as "Bill Watkins, a taxconsultant with Anthony & Anthony." In 2020, Bill worked 820 hours for the firm.He spent the balance of his working time writing his book and giving taxseminars to various professional groups.