If you are paying an employee, you need to register your payroll account with CRA. You need to deduct tax, CPP, EI, and remit to CRA with your contribution before the due date.
At the end of the calendar year, you need to provide a T4 to each of your employees and file a T4 summary return with CRA.
Determining between an employee and a self-employed contractor can be confusing. An incorrect determination may put you under the responsibility to pay CRA remittances with penalties. Processing payroll can be difficult and time-consuming, even for small businesses. You may need from an experienced professional.
At RKB, we have been processing payroll for small to mid-size businesses. We have a team and appropriate tools that can make your life easy. Contact us now for all your payroll requirements, including the below-related services that our payroll service can take care of.
WSIB – Most industries are required by law to register with the WSIB within 10 calendar days when you hire your first employee. If you are in construction, your registration obligation may differ.
EHT – An employer needs to register with the province: if you are not eligible for the tax exemption or eligible for the tax exemption, your Ontario payroll exceeds the allowable exemption threshold.
ROE – prepare and submit
Payroll – USA
When you hire your 1st employee, you must register, report all payroll taxes accurately and deposit to the government periodically. You also need to register your business with your state’s tax agency. Each state has unique rules for payroll/employment taxes based on the state’s specific requirements.
Federal income tax is deducted from all citizens and residents and is determined by individual income levels. Also, the majority of states require state and local income tax.
Employers must withhold social security tax, Medicare tax, and Medicare surtax. As an employer, you must also pay an employer’s portion of these taxes.
At RKB, we have the tools and expertise to handle your payroll efficiently.
Our Services Includes processing your Paystubs, Payroll deposit for Federal and FICA, Quarterly or annual Federal tax return, W-2, and 1099.