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Summer’s winding down, and the busy fall season is just around the corner. Before year-end chaos kicks in — with ROEs, T4s, client questions, and compliance deadlines piling up — now’s the time to reset how you manage payroll.  Whether you’re juggling a few clients or dozens, streamlining and automating your workflows can help you […]

In case you’ve missed it, there are some tax changes coming your way on July 1st, 2025.  Wagepoint will be updating our systems (both 1.0 and 2.0) on July 1 to accommodate the changes listed here in the CRA’s guide: What’s new for July 1, 2025 The good news is that there is nothing for […]

When economic uncertainty hits — whether it’s a dip in demand, rising costs, or global disruptions — Canadian small businesses often feel it first and hardest. Payroll is usually one of the largest expenses on your balance sheet, and managing it wisely can be the difference between weathering the storm and falling behind. As a […]

2024 is right around the corner and that means new year, new… batch of holidays to load into Wagepoint! All jokes aside, to set yourself up for a smooth payroll road ahead, be sure to load all the federal and provincial holidays before processing your first payroll for 2024 in the Company > Company holidays […]

As the year draws to an end, you may find yourself wanting to show your appreciation by offering an employee bonus. If it’s a fit for your company culture and budget, it’s a great thing. But it also made us curious about who gives employee bonuses and why?  General Trends for the Employee Bonus Accounting […]

Commercial insurance is vital for managing business risk. But since no one can predict the future, shopping for a business insurance policy quickly becomes a nerve-racking game of, “Do I need this or not?” This anxiety about business coverage is justified. Business owners are in danger of either under- or over-insuring their businesses. The former […]

The end of the year comes with a lot packed into a short timeframe — holiday shopping, quality time with loved ones, making sure you don’t end up on Santa’s Naughty List… When you run a small business, working on your payroll year-end is another thing you have to make time for. The sooner you […]

McRally is a Calgary-based boutique advisory firm that focuses on growth and profitability for small and medium-sized businesses. Their custom-tailored solutions around business strategy, tax, accounting and finance help drive their clients’ business towards success — including implementing payroll as a function of business success with Wagepoint. McRally clients come from a range of industries. Note: […]

This post is written for self-employed sole proprietors in the United States. For the Canadian version, click here.  The most common form of small business ownership, a sole proprietor (sole proprietorship if you’re being formal) is an “unincorporated business” where the owner literally owns the entire business. As such, for tax reasons, the business and its […]

Whether you process payroll in-house using payroll software or manual methods, there are five key payroll functions you need to account for as a small business owner. These payroll features are common to small business owners in the US or Canada. Need help finding the perfect payroll provider? Use our 5-point qualification checklist to get […]

Employers are expected to pay overtime to employees who work above and beyond the legal maximum workweek or workday hours. That may sound simple enough, but in Canada the overtime rate kicks in at a different time depending on which province your employee worked from. To complicate matters further, the overtime pay rate also changes […]

It’s the most wonderful time of the year… Well, perhaps not the MOST wonderful time of the year — especially for payroll professionals.  Year-end is fast approaching and with it comes the often daunting task of generating tax forms T4, T4A, and Relevé. Then, no later than February 28 (February 29 on a leap year), […]

Updated January 2017 + [Infographic]  Remote working is on the rise, and it’s quickly spreading across the planet. We do not need to look to a far off date in the future to realize the possibility of a remote workforce; it’s happening as we speak. Anyone with a reliable Wifi connection and decent work ethic […]

You’ll need to figure out how to pay your employees, even if you only have one employee to pay.  You might think that the manual method of cutting checks to your employee(s) and the government makes the most sense, because you have so few employees on payroll. But, if you lay the right groundwork for your […]

Updated February 2018 Becoming an entrepreneur is full of ups and downs. There’s the fun stuff, like interacting with customers, creating awesome products, and living the entrepreneurial dream. But there’s also the not-so-fun stuff — like paying your business taxes. Tax season doesn’t have to be a nightmare, especially if you plan ahead. Learn how […]