Payroll

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 […]

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 […]

Regardless of who you hire, you need to properly define the working relationship. You need to know what classifies someone as an employee or contractor and which of those factors makes the most sense in terms of your business needs and the needs of the person or people you’re hiring.

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.

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 […]

Temporary changes to Employment Insurance (EI) to help employees access EI benefits faster. Due to COVID-19 and depending on the benefit type, the following changes are in effect until September 2021 and could apply to your employees: The waiting period may be waived. A minimum unemployment rate of 13.1% applies to all regions across Canada — […]

There is no question that payroll is one of the most important aspects of a construction business that needs to be managed effectively. The sheer size of construction projects, as well as a slew of tax regulations, make construction payroll a complex process. Plus, with a large workforce, payroll can be time-consuming and stressful. A […]

This post is intended for Canadian Payroll Customers. The US version can be found here.  Your employees are vital to your business. So is having a fast, friendly and simple way to pay these employees. Wagepoint is committed to being as business- and human-friendly as possible. We’ve designed our software to be an open book […]

This post is intended for US employers. Click here for the Canadian version. Letters from the IRS are never fun. What makes it worse is not knowing why you got one in the first place. When it comes to payroll tax payments and potential fees, you want to get to the heart of the issue […]

There are many reasons why you might want to change small business payroll providers. Your current solution might not be as automated as you like or you might not be feeling the love from customer support. (We hope that never happens with Wagepoint. If you’re ever feeling “unloved” — let us know cuz that shouldn’t […]

This is the version for Canada, for the American version where “cheque” is spelled “check” click here.  Whether it’s your 1st pay cheque or your 101st, it always feels good to get paid. But aside from the final amount, do you know what all the numbers mean? Here’s why it’s important for everyone — both […]

Ever heard the song with the lyrics, “Potato, potahto, tomato, tomahto”? While many people think accountants and bookkeepers are almost the same, the truth is accountants and bookkeepers are each different types of financial professionals. Learn more about these differences, the roles they play and how they can help your small business. 1. Accountants and […]