Small Business

Paying your employees manually is no walk in the park. It’s usually boring, time-consuming and complex. A recent OnPay survey established that manually paying employees will cost 18 hours monthly. That’s where correctly setting up payroll comes in: To help eliminate these challenges taking up so much time and streamline employee remuneration. Yet, most tips […]

You’re running your own business. You’re on top of everything and multitasking like a champion. You’re also processing your payroll and calculating taxes and… kind of wishing you were doing literally anything else. We get it. Payroll isn’t exactly the most thrilling thing on your to-do list. Especially when you could be building up your […]

Pay equity, or the concept of equal pay for equal work, has been a hotly debated topic for decades. Yet, here we are in 2023 and the same problem is still around. Why do women typically earn less than men? And why do some people work in the same roles but earn different amounts? Canada’s […]

As a small business owner, you’ve got your hands full — and there’s just never enough time in the day. Between managing employees and sales, perfecting your products or services and trying to attract new customers, running a business can be exhausting! But it doesn’t have to be this way. Have you considered automation? A […]

Payroll is a non-negotiable aspect of doing business — it’s also one that you can’t mess up. You’re not only dealing with the livelihood of your employees, but the Canada Revenue Agency (CRA) is pretty unforgiving when it comes to payroll errors. So how can you streamline payroll to optimize processes and pave the way […]

When it comes to financial statements for business management, small business owners tend to fall into one of three categories: Small business owners who have their financial statements completely in order and use them to drive a thriving company. Small business owners who understand how financial statements work but are too busy to fully apply […]

On March 28, 2023, the government released its federal budget for 2023, titled “A Made-in-Canada Plan: Strong Middle Class, Affordable Economy, Healthy Future” (Budget 2023, for short). As inflation has created significant financial hardships for many Canadians, Budget 2023 proposed measures to provide various relief to both small businesses and individuals, while simultaneously tightening certain […]

New employees can be vulnerable, out of their element, stressed, and eager to please. Instead of providing a nurturing environment and offering instant validation, however, many businesses expect their new hires to turn into genuine attack dogs in a matter of weeks, providing little training coupled with high expectations. Given that the newest workforce generation […]

Company of one? If you’re the only owner of your business and you haven’t formally incorporated, you’re a sole proprietor. If you work for yourself with your main source of income stemming from this business, you’re also self-employed. Congratulations and welcome to being a self-employed sole proprietor. According to the Canada Revenue Agency (CRA), a […]

A year can be divided in multiple ways: 52 weeks, 365 days, or 12 months. This means there are different payroll schedules that a business owner can follow — weekly, bi-weekly, semi-monthly, or a combination of a few. How do you know which payroll frequency is the most optimal for your business? While there are […]

If payroll were a superpower, then Wagepoint clients – small businesses, accountants and bookkeepers alike – would need more space in their closets for tiny spandex-y outfits. You process payroll quickly, accurately and mightily (It’s a word,  we checked.) and protect everyone on your payroll by safeguarding their sensitive data. Addresses. Salaries. Bank account numbers. […]

Offering bonuses is a great way to reward and retain top talent—but it often comes with questions from employees about why so much is withheld for taxes. As an employer or payroll service provider, understanding bonus tax in Canada allows you to answer those questions confidently, ensure compliance, and even optimize how bonuses are processed […]

You sifted through the hiring pool, you found the ideal candidate for your small business that checks off all your boxes, you made the offer and they accepted. Congrats on hiring your first employee! The next step in the process is onboarding your employee. In other words, bringing them onto the team, getting them started […]

As a small business, have you taken all the right steps to become an employer? There’s more to hiring an employee than making sure everyone has the equipment they need to do their job or installing a shiny new coffee maker. Although, now that we mention coffee, feel free to grab a cup o’ your […]

From recruiting to payroll, here’s what you need to know.