Tis' The Season For Setting Financial Goals
If you want to achieve a goal, the best place to start is by setting one. The reason for this is that it’s impossible to reach a goal that you don’t yet have in your sights. We find that Fall is a great time of year to set financial goals for the following year, as the rush of the Summer has gone by but the hectic season of Christmas has yet to begin. Whether you work from a goal worksheet or even just a calendar, outlining your financial goals is a great way to calculate whe
To Pay Or Not To Pay - The Rules Of Employment Insurance
The Canada Revenue Agency decides based on four circumstances, whether a person is eligible or not for employment insurance: Remuneration paid, terms and conditions of employment, duration, and nature/ importance of the work performed. If you are not sure whether a relation’s employment is insurable, call the CRA at 1.800.959.5525. If they conclude that you would have hired a non-related person under the same circumstances, then your employee/relative is insurable. If not, EI
Are You Collecting & Remitting CPP Correctly?
Knowing the ins-and-outs of CPP (Canadian Pension Plan) can avoid you having to pay penalties due to not remitting the proper amount on behalf of your employees. In fact, if you know the rules, you may find that you don’t have to remit in certain cases at all. As an employer you are required to match employee CPP contributions. For example, if an employee must remit $1,000 for a CPP, then you have to remit the same amount. If you receive a notice of assessment, or if you disc
Are You Overpaying Your Employees For Holidays?
Managing a company’s payroll is a complex undertaking, no matter who does it. If you or a member of your staff are well trained for the task and can keep up with the changing rules imposed by Revenue Canada... Doing your own payroll seems like a great idea. However, mistakes in this area can be costly, resulting in upset employees as well as possible penalties. Keeping track of paid vs. unpaid holidays are a common obstacle that business owners can encounter when they take on
