Are you self-employed or an employee? It is important that you understand and define your working relationship from the start, as it can be a costly mistake to make. If you are an employer, who has wrongly assumed that you are working with a subcontractor, you will end up needing to provide the government with […]
Employers often give their employees additional compensation and perks beyond their normal salaries. This can be an important aspect of employee morale. However, it is imperative that employers understands that these are taxable benefits. As with all employee compensation, the CRA has rules for these that you must follow. In previous blog posts we have […]
On Monday, July 1st, Bill 3 from the UCP came into effect. This bill is what they have called the Job Creation Tax Cut. You have probably heard about it on the news, and you may not be sure what exactly what this means for you as a business owner in Alberta. Small Business Tax […]
A couple weeks ago the UCP introduced a new bill, Bill 2 or the Open for Business Act. As a business owner, this bill will directly impact the way that you are required to pay your employees. The changes will take place on two different dates, June 26th and September 1st of this year. The […]
Bookkeeping costs can add up quickly, and it doesn’t take long before it becomes overwhelming. This leads to business owners deciding that professional bookkeeping isn’t worth the cost. They may start looking for a bookkeeper on Kijiji who can do their books for cheap. However, like most things in life, you get what you […]
If you are a shareholder in your business, you may have heard about going on the payroll vs. taking dividends. This post will not recommend one over the other, as that is a discussion that you need to have with your accountant. Every situation is unique and taking one or both, requires an intimate […]
As your business starts to grow you may need additional help around the office or the shop. Hiring an employee comes with obligations to the government that surprises many small business owners. This post will address these obligations, and help you better understand what having an employee means for your business. As a disclaimer, […]
If you start a business, you will one day need to start charging GST on your products. Once you start charging it, you will also need to start doing remittances based off the schedule you have chosen. Like most things with the CRA, GST has many moving parts and rules. This post will only cover […]
The accounting industry is changing and no longer do you need to come to an office to get bookkeeping and accounting services. Sharing a file is easier than ever and clients can do as much or as little work as they want. This post will briefly cover the advantages of using an online software. The […]
Using vehicles is an essential part of modern day business. Whether your employee needs to go visit a client, or goes to pick up stamps from the store. You need to know how to reimburse them for the kilometers driven. Criteria for Reimbursing Kilometers to Employees: There are three criteria that you must […]
