Goud Books Accounting Services

During Business Hours The Current Time for Completion Is Between 2 and 3 Hours. https://youtu.be/tH3t83x7wok

My new website is now live. You can now securely send me your income tax documents and pay via the website. Bookkeeping & Payroll Services also available.

My new website is about to come live. You can now securely send me your income tax documents and pay via the website. Bookkeeping & Payroll Services also available.

Getting Back To work after 4 months of forced vacation? March and June HST filings need doing? Lets get back to work together. Appointments available for initial consultations, and drop off / pick up.

Today is the day business owners have been waiting for. Apply now for the 75% wage subsidy.

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Do you need to hire extra staff to fill shelves or make deliveries? Read On. With the Government of Canada now providing Help for individuals under the CERB, and a payment of $2000 per month this is what you need to consider. For people to risk leaving their homes to come to work, you need to incentivise them more than the Government is to keep them home. Granted they will have to pay taxes later on the money they receive, but for now this is cash in their pockets.... Assuming a work week of 40 hours, you need to pay in excess of $15.15 per hour in order for your employees to be able to have the same take home pay as the CERB is providing. You may say my calculation is wrong. $500 divided by 40 is only $12.50 per hour, and your right. The difference is that the Government will be collecting the tax on this money when people file their 2020 income tax returns. As an employer you have to collect it Now. So when you account for the deduction (Income Tax, EI, CPP) You need to be paying the $15.15 to match what people are getting from the CERB. Employers looking to hire during this shutdown are probably going to have to offer wages in the $18 per hour range in order to entice people to leave the safety of their homes and risk working. Anything less and the people who will be applying for your jobs will be those who don't qualify for EI or the CERB. The minimum income to qualify for the CERB is $5000 last year. Chances are, if you haven't been able to make $5000 in a year, then you are probably not the greatest employee and I won't want you working for me.

Small Business Owners, why hire a freelancer instead of hiring a bookkeeper internally? What benefits are there for you and what challenges do you face? I have worked as a staff accountant and full-charge bookkeeper for 25+ years. Now I provide bookkeeping services to small and mid size businesses. Basically I have worked in both situations.... Honestly, I've seen and experienced greater benefits for hiring a freelancer. Initially, the hourly rates are higher for freelancers but on a monthly, annual, and overall basis they're actually more affordable for several reasons: 1) You're not paying for downtime. Unless your business is several hundred strong, you're not likely going to have work for them to do full time unless you want to hire them as an office manager and have them do all of the day to day tasks. 2) In order to keep hourly wage costs down, you'd likely hire someone with only a few year's experience. That may mean a lower hourly rate but it will mean more hours for hiring, training, review and corrections of their work, education (if pursuing additional credits/CPA license), benefits, payroll taxes and potential turnover costs. 3) Greater experience = greater efficiency. One of the greatest advantages of freelancers comes with encountering more scenarios in their day-to-day with other clients. This provides them better knowledge on how to handle new situations that need addressed within your own business (i.e. growing pains, unique client requirements, government regulation changes, etc.) 4) You are paying HST on their wages (which you get back) as opposed to having to pay Unemployment Insurance, CPP, Vacation Pay, Statutory Holiday Pay, Workers Compensation, Health Tax and any other employee related expenses that you may have. Just think of it this way. Would it be cost effective to hire an in-house lawyer, benefits representative or building maintenance technician, or only pay them when you need them? As a former full-time employee, I've worked 40 hours/week making a few grand a month even when not busy while I've had many clients only averaging a few hundred a month to handle all of their monthly accounting needs. I find working with small business owners much more satisfying as I am able to help them realize their business dreams. Their success is also my success. I will say that it is true that we work hard and are more dedicated to our work.