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TD1 forms: How to fill out
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TD1 forms: How to fill out

Payroll, Taxes

TD1 forms: How to fill out

By Alissa Bryden|2022-08-16T16:50:12+00:00December 21st, 2021|Payroll, Taxes|

Have you been asked to fill out a federal or provincial TD1 form? This video shows you how to complete it. In this example, we use the BC form. You will complete the provincial form that your employer is a resident. That means if you are a remote employee that works from BC but you work for an Ontario company then you will have to complete an Ontario TD1 form. Also, remember to provide your employer with the email address that you would like to receive notification of e-pay stubs to (if they offer that) and also a void cheque. Side [...]

Nix the Cash Bonus: Reward Your Employees While Reducing Your Tax Bill

By Virtual Heights|2021-10-24T09:53:16+00:00April 23rd, 2020|Accounting, Business, Taxes|

Good employees can be hard to find. When you do find them, you want to keep them as long as possible. It can be tempting to pay a cash bonus to show your appreciation. Everybody loves cash. Accept accounts! Here’s why . . . What’s Wrong with a Cash Bonus? Of course accountants love cash too, but paying cash bonuses can make for a bookkeeping nightmare! When you pay employees with cash, there’s no paper trail. There’s no way to prove to the Canada Revenue Agency (CRA) that you incurred those expenses. As much as you want to show your appreciation [...]

Top 6 Things Business Owners Should Know About Paying Employees in BC

By Alissa Bryden|2021-10-24T09:53:18+00:00May 16th, 2017|Business|

1) Statutory Pay – Employers must pay all eligible* employees an average days pay** on each statutory holiday regardless of whether they work or not. If the eligible employee does work on a statutory holiday they are entitled to 1.5X their normal pay (up to 12hrs and 2X thereafter) PLUS an average days pay. AKA closing shop does not get you out of stat pay but staying open is expensive! Statutory Holidays in BC: New Year’s Day, Family Day, Good Friday, Victoria Day, Canada Day, BC Day, Labour Day, Thanksgiving Day, Remembrance Day and Christmas Day. Note: Easter Sunday, Easter Monday [...]