Payroll

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 […]

What is a Record Of Employment (ROE)? An ROE is used by Service Canada to determine if a person is eligible to receive Employment Insurance (EI) benefits. It details the insurable earnings collected by your employees during their time with your business. The system is designed to help regulate what the payout will be and […]

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 […]

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 […]

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 employers and employees — to understand the information provided on every pay cheque… 47% of Canadians are […]

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 […]

As a startup, you’ve got no shortage of entrepreneurial spirit. Cash, on the other hand… With tax season approaching, brushing up on your knowledge of small business tax deductions will help you pinch many much-needed pennies. Learn more by reading this guest post we wrote for Startup Nation — 10 Tax Deductions Every Startup Should […]

Updated June 2021 U.S. Payroll Taxes — The Taxes No One Expects…  While everyone is well aware of the impact of business income taxes, the sleeping giant of payroll taxes (also known as employment taxes or trust fund taxes) often catches business owners and employees by surprise. This guide will give you an overview of […]

Any kind of change can feel overwhelming and switching payroll providers is no exception. Getting it wrong can also result in an administrative nightmare or worse — which is why you should follow these steps to cover all your bases as you make the switch. Step 1: Notify Your Current Provider Most companies require a […]

This is the US version of our small business tax guide for sole proprietors. For the Canadian version, click here. February 2019 Update: The tax brackets for individuals have changed. Be sure that you’re filing and paying accordingly. The standard deduction has also nearly doubled, meaning that in many cases you can skip itemizing and […]

In order to ensure a stress-free wrap-up of your fiscal year, we’ve outlined eight steps that will work for anyone — whether you’re a payroll DIYer, working with your accountant or bookkeeper — or using payroll software to manage your company’s payroll.

Canadian tax laws for tips and gratuities impact businesses the service, hospitality or restaurant industries. As an employer, you’re affected when it comes to reporting tips and gratuities as income through the process of running payroll.