The Fuel Accounting blog page

When starting a small business, business owners often think about things like the storefront, branding, and displays. They think of smiling employees and happy customers. It’s not usually the image of the shelves and cupboards in the back stockroom that fill their heads.

There are a few different methods that employers use to pay their employees, and while they may have similarities, they each also have their own implications for your business and its employees. On top of that, there may be a blended model at play, in which you offer two types of compensation at once, such as a wage and bonuses.

If you are a business or non-profit organization in Canada then the answer is YES. You are required to issues a T4A slip to ANYONE whom you pay any of the following types of revenue to: pension or superannuation, lump-sum payments, self-employed commissions, annuities, patronage allocations, registered education savings plan (RESP) accumulated income payments

From calculating taxes on online sales to inventory management to figuring out shipping logistics, running an eCommerce Fulfilled By Amazon (FBA) business comes with a whole host of challenges and considerations. Your bookkeeping and accounting solution needs to be able to keep up. As experts, we at Fuel Accountants want to help our clients by ensuring their books are clean so that you can run your business efficiently.

From calculating taxes on online sales to inventory management to figuring out shipping logistics, running an eCommerce Fulfilled By Amazon (FBA) business comes with a whole host of challenges and considerations. Your bookkeeping and accounting solution needs to be able to keep up. As experts, we at Fuel Accountants want to help our clients by ensuring their books are clean so that you can run your business efficiently.

More companies are exploring their options when it comes to employees working remotely. There are numerous reasons for doing so: Increased worker morale, More flexibility in work schedules, Enhanced cost savings by not paying for office space. With all the benefits, it makes sense that employers are considering whether or not working from home can work for their team.

While Canada and New Zealand have much in common, the tax systems are very different.  Any time you move countries you should plan before you leave and ensure that you fully understand the issues as assumptions from one country may not be valid in the other.  Once you have moved there is little that can be done. Please be very careful where you get your advice from.  We see many incorrect posts on internet forums.  These people are often well meaning and simply telling the world what they did (or what they “got away with”). 

While Canada and New Zealand have much in common, the tax systems are very different.  Any time you move countries you should plan before you leave and ensure that you fully understand the issues as assumptions from one country may not be valid in the other.  Once you have moved there is little that can be done. Please be very careful where you get your advice from.  We see many incorrect posts on internet forums. 

Your business us growing and you’re ready to take the plung and hire an employee.  Congratulations.  There are a number of things that you need to think about, especially as you get started.  Please also note that lows vary by Province – based on where the employment takes place (so if you are in Ontario but your employee will be in B.C.

IMPORTANT: This post is specific to Canada. If you are not a Canada business/taxpayer then it is probably not applicable to you. It’s all the rage to hire casual or fixed-term staff as “contractors” and not put them on payroll.  This is often advantageous to the employer because you avoid expensive things like payroll taxes, workers comp, holiday pay or annual leave, tax withholdings, statutory holiday pay, sick leave, termination criteria, personal grievances etc.