Payroll

Welcome to your all-in-one resource for T4s! ‘Tis the season to fill out or generate these forms to hand off to the Canada Revenue Agency (CRA) and your employees, so we thought it’d be handy to have the information you’ll need in one place. Whether you’re doing so manually or using a payroll software like […]

Updated January 2022. New year, new T4s. There are several things that are of importance that need to be done, forms that need to be considered, beans to be counted… and it can get a bit overwhelming.

Updated January, 2022. Together — income tax, federal taxes and provincial taxes — are all grouped under the bucket category of payroll taxes (employer taxes and/or source deductions).

While British Columbia (BC) has various legislation around taking time off, starting January 1, 2022, British Columbians will now be able to stay home if they have a personal and unexpected illness or injury. The good news is they won’t have to worry about it affecting their pay cheque! This comes after almost two (2) […]

Payroll can mean completing a lot of scary tasks for small business owners — like making the right calculations and filing taxes correctly and on time to the government. On top of that, consider needing to make corrections during a busy year-end season! Now that sounds like a real nightmare. As the old adage goes, […]

There are few payroll tasks that feel as heavy and complex as having to let an employee go. It’s a critical time for any small business that requires an easy, fast and reliable process for generating a Record of Employment (ROE) so that employees can collect benefits quickly and employers can have the peace of […]

Quick Links Request the report Business resilience defined What the numbers and businesses say The 2021 Canadian Small Business Resilience Report. As we look back on the events of 2020 and the ongoing social and economic impacts, narratives will be dominated by the word “pandemic.” However, as our research has uncovered, conversations about the past […]

On January 27, 2021, Ian Vacin, Chief Customer Officer for Karbon, and Rachel Fisch, Strategic Advisor to Wagepoint held a webinar (online discussion) on the topic of “How compliance leads to advisory.” The truth is, you can’t have one without the other. Especially when it comes to small business payroll. As an accountant or bookkeeper, […]

Starting with tax year 2020, Form 1099-MISC (Miscellaneous Income) has been replaced with Form 1099-NEC (Nonemployee Compensation). Employers no longer need to report non-employee compensation, such as payments to independent contractors, on Form 1099-MISC. Read for more information on the difference between Form 1099-NEC and Form 1099-MISC. Diving into W-2s and 1099s. It’s almost the […]

When the pandemic came on the scene, it shook the world — from small businesses to government agencies. During CPB Canada’s Ignite 2020 event, we hosted a breakout session to discuss with our accounting and bookkeeping friends the role that payroll played in helping small business owners navigate through this year and going forward. Note: […]

Payroll, it’s one of those “common sense” things most of us just accept at face value. You do your job and you get paid for what you do. However, when a major shift happens — like a global pandemic — payroll software companies, like Wagepoint, are a “canary in the coal mine” in terms of […]

The problem for small business owners isn’t finding talent — it’s finding the right type of talent. No matter which type of worker you choose, be sure not to misclassify them. The repercussions can be costly.

Receiving a notice of assessment from the Canada Revenue Agency (CRA) can incite panic if you’re not expecting it. Luckily, most issues with the CRA can be easily addressed. Many are the kinds of issues that arise when you’re starting out as an employer running payroll.

As you reach the final months of any year, there’s the holiday period. (Insert any number of appropriately timed seasonal cliches here.) However, there’s also the process of closing the books on one year of business finances and planning to smooth out any kinks in the year ahead. For many small businesses, payroll is one […]

As a business owner, you want to focus on what your employees can do for your business — rather than getting bogged down by the nitty-gritty of paying them. How often is your mind centered around administrative responsibilities like payroll? Have you ever incurred interest and penalties from payroll errors? When details, like income types […]