Payroll.
Payroll can be the single most important aspect of your business’ success.
Cash-Flow, Growth, And Productivity
Payroll can be the single most important aspect of your business’ success influencing cash-flow, growth, and productivity. From making your payroll remittances and payments to employees on time, providing and filing T4’s, to owner-manager compensation planning, the landscape can be complex and time-consuming, filing even a few minutes late can result in penalties and fines.
Trying to manage this on your own or even with a devoted accounting department can be an inefficient application of resources, energy, and time. By working with SMS, you get the guidance and expertise of a
professionally designated accountant without having to dedicate an entire department or hire an in-house accountant. We have a team that can manage and automate government filings and remittances,
pay staff, and provide pay stubs.
What We Do:
T4’s, T4A’s, and T5’s.
Pay Stubs
Payroll Remittances
Owner-Manager Compensation Planning
Maternal and Paternal leave
Record of Employment
WSIB Reporting
Vacation Pay
Termination Pay
Overtime Pay
Real World Example
A family-owned business was preparing for maternity leave, the client wanted to minimize their tax liability while simultaneously maximizing maternity and parental leave benefits. We drew up a plan which included a mix of salaried payroll and dividends; the result was a maximum claim on maternal and parental benefits - without overpaying - while earning the remaining income via a low tax dividend to minimize tax liability. For the business, we were able to claim the additional payroll as an expense and lower the tax liability for the corporation as well.
Contact Us
You are our top priority, whether you need assistance, have a question, or would like to explore our services, feel free to reach out. Our dedicated team is ready to assist you.
admin@smscapc.com
Phone
(437)-677-4825
