Employee or contractor, that is the question that we get from many business owners. It’s important to know the answer because getting it wrong can be very costly and cause problems with the Canada Revenue Agency. This article will cover how to tell the difference and which is better to hire for your business.
If you’re looking for a simple way to calculate payroll taxes and net pay for a single employee, the CRA payroll deductions online calculator is often the quickest option. This article will give detailed steps showing you how to use the CRA payroll deductions online calculator.
So you’ve hired your first employee. Work is getting done and you don’t have to be the person to do it all! Now that you have all of this free time... (◔_◔) let’s take 5 minutes to understand how to pay your employee.
We get asked this question a lot. And for good reason, it’s not always clear how much you should be taking home as an owner. Too much and you will starve your company of cash. Too little and you might as well just get a job. It’s a tough balancing act, but this article will give you a framework to answer the question for yourself.
If you own a business through a corporation, you have the ability to pay yourself a salary or dividends or a combination of both. This article will look at the difference between the two methods and the main advantages and disadvantages of each. We will also see some common scenarios for when a business owner may choose one method over the other.
We come across this issue fairly often. A business has set up payroll and decided on a payment frequency, but circumstances have changed and a change in pay frequency is needed.This is fairly easy to accomplish; however, the changes affect how employees are paid so it must be handled with special care.
The Canadian Emergency Wage Subsidy (CEWS) is a 75% wage subsidy that the Government of Canada is offering to eligible businesses that have been affected by COVID-19. This article will cover in detail how to apply for the CEWS.
Every now and then you’ll need to run a payroll that goes outside your regularly scheduled programming. This is referred to as an off-cycle payroll. Whether you’re paying bonuses or an employee’s final pay, here is how to do it in Wagepoint!
