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A Guide to the BC Employer Health Tax
If you’re a business owner with British Columbia (BC) remuneration, you may have already begun paying the new Employer Health Tax (EHT), which became effective January 1, 2019. The provincial government introduced the EHT as a replacement to the Medical Services Plan, with its main goal of shifting some of the financial burden of the
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Payroll Deductions - How Much Should You Be Paying?
As of 2017, small businesses in British Columbia were responsible for almost 1.1 million jobs – or 44% of the province’s total employment. If you’re one of those BC-based small business owners – and you’ve decided to do your own payroll – it’s essential that you pay your employees correctly. However, it’s also crucial that
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Payroll Audit in Canada: What You Need To Know
A recent survey conducted on behalf of the Canadian Payroll Association (CPA) revealed that 54% of business leaders and 66% of those with direct payroll responsibilities wouldn’t know how to prepare for a payroll audit. Most payroll audits are carried out to promote tax compliance and ensure payroll systems and procedures are set up correctly.
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IRAP Funding: What You Need to Know
Regardless of the economic climate in Canada, starting a new business is always a challenge. Thankfully, there is some recourse available for companies that are ready to bring beneficial change to the Canadian economy. The 2013 Canadian budget allocated a whopping $121 million investment into the National Research Council to increase wealth creation for Canada.
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Understanding Your Numbers 101: Financial Statements
As a business owner, you know that your financial statements are not only a reflection of your organization’s financial health. They’re also tools you can use to make better financial decisions to grow your business. To fully comprehend your company’s financial position, there are 3 key financial statements you should know about: the Balance sheet,
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Business Process Outsourcing: What You Need to Know
Chances are, you started your business because you were passionate about your trade. Perhaps you even foresaw a better way of servicing customers with your product or service. But in reality, many business owners are regularly bogged down by endless paperwork and administrative tasks. These non-revenue generating tasks like bookkeeping, payroll, and human resources consume
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Understand Your Business Credit Score
Many business owners are unaware that their company has a credit score. But much like a personal credit rating, your business credit score is a numerical value that reflects your company’s level of creditworthiness. Monitoring your company’s credit history is important because the stronger your business credit score is, the more likely you are to
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Month in Review: August 2019
Is it just us, or does the summer always fly by too quickly?  Students are getting ready to go back to school next week, Starbucks has launched its Pumpkin Spice menu, and Thanksgiving and Halloween are just around the corner!  “Time flies” comes from the Latin Tempus Fugit, which first appeared in Book 3, line
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