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How to Calculate Canadian Payroll Tax Deductions - Guide
 
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Tutorial for calculating payroll taxes and deductions in Canada. Includes instructions on how to use the free HelpSME.com payroll calculator. Download it at: http://helpsme.com/tools/free-canadian-payroll-tax-deductions-calculator
Views: 54817 HelpSMEvideo
Basic Bookkeeping: Payroll Remittance
 
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This is a short video describing what you should know about bookkeeping and payroll remittance.
Views: 7460 PedersenVideo
How to use the CRA's My Payment System: LiveCA
 
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How to pay your Canadian tax balances online using the CRA's My Payment System. LiveCA is Canada's first online accounting office allowing today's mobile entrepreneurs to connect directly to a CA wherever, whenever
Views: 4835 Josh Zweig
Guide to Payroll Deductions for Employers (Canada)
 
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GTA Accounting Professional Corporation is a chartered professional accounting firm Toronto specializing in a wide range of services including but not limited to corporate tax returns, financial statements, tax auditing, international and real estate tax and advisory services. 304-3410 Sheppard Ave East Toronto, Ontario, M1T 3K4 https://gtaaccounting.ca/ +1 (416) 900 3826 +1 (800) 993 0633 [email protected]
Views: 631 GTA Accounting
Payroll Deductions in QuickBooks
 
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This video tutorial will show you how to setup payroll deductions (other deductions) that are not associated with healthcare costs, taxes, etc. If you would like to learn more or have any videos you would like help with let us know and we will be glad to assist. This video was created by It's About Time Bookkeeping (formally Equality Financial).
Views: 29610 IATB Group
How to submit Federal Payroll Deductions Payment to CRA
 
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In this video you will learn how to make monthly payroll deductions payment via online banking.
Views: 2317 Balbir Singh Saini
Accounting Tutorial Payroll Taxes Training Lesson 14.2
 
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FREE Course! Click: https://www.teachucomp.com/free Learn about payroll taxes in accounting at www.teachUcomp.com. A clip from Mastering Accounting Made Easy. http://www.teachucomp.com/free - the most comprehensive Introductory Accounting tutorial available. Visit us today!
Views: 25818 TeachUComp
Setting Up a Company Contribution Payroll Item to Track Reportable Health Coverage Cost
 
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This video walks you through the process in QuickBooks Payroll of creating a company contribution payroll item to track your reportable health coverage costs for each employee.
Views: 9848 IntuitPayrollSupport
How To Do Payroll
 
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Want to know how to do payroll but not sure where to start? You are in the right place. In today's video we cover the basics of payroll including the three different ways to handle payroll, handling withholding, how to keep track of employee hours, dealing with overtime, vacation and sick days, Voluntary deductions, and more. Learn how to do payroll today! More Resources: How to Setup Payroll: http://fitsmallbusiness.com/how-to-do-payroll/ Best Payroll Software Buyer's Guide: http://fitsmallbusiness.com/best-payroll-software-reviews/ Free Payroll Software Trial http://fitsmallbusiness.com/gusto-trial/ Payroll Basics: http://fitsmallbusiness.com/payroll-basics-how-to-pay-resources/
Views: 257995 FitSmallBusiness
Payroll Deductions
 
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This video is about calculating deductions from a paycheck. This videocast is an educational video created by Mr. Richard Smith at York County School of Technology for the Essential Algebra and Geometry Applications Course.
Views: 3737 YCSTMathGuy
Payroll Deductions and Benefits in Cloud Based Canadian Payroll with eNETEmployer Online
 
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This lesson will discuss how to work with payroll Deductions and Benefits in eNETEmployer. The lesson will focus primarily on non-statutory Deductions that are setup by your company. There are many examples of these types, such as dental plan premiums, life insurance premiums, pension contributions, union dues, garnishee orders, and so on. Statutory deduction amounts, such as Income Tax, CPP, E.I., Premiums, etc., are automatically calculated by the program and do not require any added setup. In many situations both deductions and benefits are related. Therefore when you create a Deduction item in eNETEmployer, a corresponding Benefit item is also created, and vice versa. You then have the option of utilizing the deduction only, the benefit only, or both. To begin, choose the Current Payroll - Deductions menu command. This opens the Deductions page that allows us to enter our company's non-statutory Deductions - amounts that are subtracted from the employee's pay by the company. Deductions can be calculated based on a Function, Individually, or as a Fixed Amount. Each row also contains a Carry Forward Year End Balance option for specifying whether the deduction's year-end balance should be carried forward to the subsequent year, as opposed to zeroing out the balance at year end. Section - Create a Deduction To begin defining the settings for a new deduction, select the New button, enter a name for the deduction, and then place a check in the As Deduction cell to instruct the program to calculate the deduction in the current payroll. Place a check in the Before Tax cell to indicate that the deduction will be made before the employee's tax is calculated. The RRSP Deduction will need to be calculated based on a Function. Therefore, click on the drop down list and choose the By Function option to specify the deduction's calculation method. With the method chosen, you must now create an associated function. However, since we have not yet created an RRSP Function that will be associated with our new RRSP Deduction, we will leave the Calculate Function cell with the default setting while we move to the Functions page to create the associated function. Section - Creating a Function Move to the Functions page by choosing the Current Payroll - Functions command, and then select the New button. Enter RRSP Deduction into the Function cell, then select the Add Variable button three times. Set the Items for the four variable rows to Earning Regular, Statutory Pay, Salary and Commission, and then move to the Expression cell and modify the expression to read (x1 + x2 + x3 +x4)*.04. This function will take the sum of the four variables for each employee, and then multiply the result by 4%. Return to the Deductions page and apply the new function by selecting the RRSP Deduction function from the drop down list in the Calculate Functions column. Section - Modifying a Benefit In our demo payroll, we will also be utilizing the Benefit portion since the employer will be matching each employee's contribution amount. To edit the required benefit settings, move to the Current Payroll menu and choose the Benefits command. When the page appears, double-click on the RRSP Deduction row, and then place a check in the As Benefit cell. This signifies that the program should include the benefit portion in the payroll calculations. Next, T4-4- Other Taxables option from the T4 Box Benefits cell's drop down list. Then move to the Subject To cell and place a check in all of the boxes except for Quebec Tax. Next, we will move to the Calculate Benefits cell and choose the By Function option to specify, and then apply the appropriate function by choosing the new RRSP Deduction function in the Calculate Function cell. This completes the procedure for defining a Deduction and its associated Benefit in eNETEmployer. Although this particular deduction used a straightforward function that multiplied the sum of an employee's earnings by a set percentage, keep in mind that you can create complex deductions by using the Functions page to define intricate formulas through the use of If statements and other operators, such as MinN, MaxN, Sum, Sqrt(), and so on. For detailed descriptions of this feature, you can open the Online Help system by pressing F1 on your keyboard, and then browsing to the Functions page.
Controlling when to use Payroll Deductions in Microsoft Dynamics GP
 
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Question from a Microsoft Dynamics GP Payroll User We currently have several employees that are paid both on a biweekly and monthly schedule for different types of pay. We have to manually stop deductions and benefits on one of the pay runs so they do not show up for both types of pay. Is there a way to mark the deductions and benefits so that they are only associated with one of the pay types/cycles? Watch this video and see how I use the Microsoft Dynamics GP "Build Check" window to handle this.
Views: 741 MsBelindaAllen
The Easiest way to PAY CRA for Employee Source Deductions - Small Businesses
 
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Walk-through of the easiest method of paying Canada Revenue Agency for employee payroll source deductions. Employee Payroll Source deductions are mostly due every month on the 15th for payroll for the previous month (Jan payroll due Feb 15). The source deduction includes - Income Tax Withheld - CPP (Company Portion & Employee Portion) - EI (Company Portion & Employee Portion)
Views: 173 Mannered Finance
Top Business Deductions for 2019
 
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For Non-Business PERSONAL Deductions: https://youtu.be/W-U07iKrCmA This Video is for the top 10 business tax deductions that are most often misused, misunderstood, missed, and/or abused... 00:03:46 - What is deductible? All Ordinary and necessary expenses... 00:06:30 - Skip Intro, go to HOME OFFICE EXPENSES 00:11:21 - VEHICLE EXPENSES 00:18:04 - INSURANCE EXPENSES 00:24:08 - CHARITY AND POLITICAL CONTRIBUTIONS 00:27:41 - MEALS AND ENTERTAINMENT 00:31:27 - TRAVEL EXPENSES 00:36:53 - EMPLOYEES AND SUBCONTRACTORS 00:41:02 - RETIREMENT AND DEFERRED COMPENSATION PLANS 00:43:25 - WRITING OFF OPEN RECEIVABLES, PAYABLES, AND INVENTORY 00:49:19 - START-UP EXPENSES AND OTHER EXPENSES PAID OUTSIDE OF BUSINESS BANK ACCOUNTS 00:51:08 - BONUS: QUALIFIED SMALL BUSINESS AND PASSTHROUGH ENTITY DEDUCTION (Sec. 199A) Most new entrepreneurs ask they accountant this real common question: “Which expenses are deductible for my business?” The answer I give to all my clients is: “Any expense that is necessary, ordinary, reasonable, documented, and legal may be deductible…” …and what do these terms mean? * Ordinary: means it is commonly accepted in the industry and seen often with other businesses in the same trade * Necessary: means the expense was required in order to generate the business income or it was incurred as a consequence of the income producing activities. But it does not need to be indispensable in order to be deductible * Reasonable: this is very subjective, but in essence it means it is not lavish or extravagant * Documented: means that the taxpayer has the burden of proof to prove the expense existed, that the amount reported is accurate, and it has a true business purpose (necessary) * Legal: the expenditure cannot break any laws, be considered a bribe, or made in connection to an illegal activity / or activity in which the business does not gave the legal capacity to perform It also also worth mentioning that there are 10 tax deductions very commonly missed, misused, and/or abused, and those are: 1. Home Office Expense: Frequently failing to document the square footage of the home, creating a business-only environment, and document its business purpose is the most common issue 2. Vehicle Expense: mixing personal and business use of vehicles and not properly tracking milage is a large are of non-compliance 3. Insurance: Specially with health and life insurance, which have very special rules in order to be deductible.. in many cases these may NOT be deductible if rules are not followed 4. Charity and Political Contributions: For pass-through entities, such as S-Corporations and Partnership/LLC’s, charity is “deductible” only on the persona return, but most taxpayers cannot get any benefit for it because of standard deductions. Political contributions are NEVER deductible 5. Meals & Entertainment: the “entertainment” factor really affects the deductibility of this expenses. NOTE: in 2018, there are significant changes in the tax code for Entertainment expenses 6. Travel Expenses: frequently combining personal with business travel is a large priblem 7. Employees and Subcontractors: not properly correctly categorizing employees or contractors and reporting them as such; which may lead to large payroll tax penalties or disallowance of contractor expenses 8. Retirement and Deferred Compensation Plans: failing to include ALL the employees in the company plan and/or not taking advantage of the income deferral tax deductions 9. Proper Write-off: of open invoices/receivables that are deemed uncollectible, open bills/payables that will not be paid, and adjusting Inventory quantity/valuation. For ACCRUAL-BASIS taxpayers 10. Pre-startup costs: made before the business started and.or in connection to setting up the business. Also some business owners tend to “cover” business expenses with personal funds or personal credit cards (outside of the business bank accounts) and forget to register it in the business books 11. BONUS: Section 1099A... More to come my e-mail: [email protected]
Views: 17737 Hector Garcia CPA
New employers - the basics
 
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New employer - an introduction to PAYE and how to get started. For the latest HMRC video updates please subscribe to HMRC's YouTube channel and visit our Employer page at www.gov.uk for further HMRC help. Links to specific sections in the video: payroll deductions: https://goo.gl/YQIbAz starter checklist: https://goo.gl/vgWuCZ basic PAYE tools: https://goo.gl/QH1f0E free payroll software: https://goo.gl/l4oXzo HMRC is the UK’s tax, payments and customs authority. We collect the money that pays for the UK’s public services and help families and individuals with targeted financial support. Why not ask a question or share your experiences on HMRC’s Small Business Forum? You can find it here: https://online.hmrc.gov.uk/webchatprod/community/forums/list.page Follow HMRC on social media: • Twitter: https://twitter.com/HMRCgovuk/ • Facebook: https://www.facebook.com/HMRC/ • LinkedIn: https://www.linkedin.com/company/hm-revenue-&-customs For help with general queries relating to any of HMRC’s products and services, talk to us on: • Twitter: https://twitter.com/HMRCcustomers/ • Facebook: https://www.facebook.com/HMRC/ Sign up for your Personal Tax Account. Join the millions of customers already using their online account to check and update their records and see their state pension details. It takes just 5 minutes at https://www.gov.uk/personal-tax-account
Views: 25894 HMRCgovuk
Payroll part 1
 
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www.thataccountant.com This first video covers how to calculate the payroll deductions for the owner of a company, how to pay the source deductions to CRA and how to maintain an employee payroll card. Michele Winger, Public Accountant, provides accounting, tax, and management services to owners of small corporations.
How to do payroll (in Canada)
 
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Do you have a small business and are wondering how to pay your employees? Here is a quick how to guide for reference, links below Things to think about when deciding payroll Canada TD1 Forms: https://www.canada.ca/en/revenue-agency/services/forms-publications/td1-personal-tax-credits-returns/td1-forms-pay-received-on-january-1-later.html Payroll Deductions: https://www.canada.ca/content/dam/cra-arc/formspubs/pub/t4001/t4001-18e.pdf CRA Guide to completion: https://www.canada.ca/en/services/taxes/payroll.html Payroll deduction online calculator: https://www.canada.ca/en/revenue-agency/services/e-services/e-services-businesses/payroll-deductions-online-calculator.html In case I didn't mention it enough, I highly recommend you hire someone else to do this!!
Views: 115 Kimberly Kayman
HOW TO: Prepare a T4 (2018)
 
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Subscribe to PFTGI: https://bit.ly/2Gxn731 Get More PFTGI: http://www.painlessfinancialtrainingg... Online Bookstore: https://www.painlessfinancialuniversi... Online Courses: http://www.painlessfinanciallearning.... Social: https://bit.ly/2EdgXPH Governance: http://www.basicboardgovernance.ca/ Last week I talked about the joy of balancing your T4 Summary, but I did not provide a checklist of how to do that. This week I am showing you how to balance your T4’s. T4’s are a part of your life when you have employees in your business. You pay your employees and you have to take deductions from their pay for Canada Pension Plan (CPP), Employment Insurance (EI) and income tax (no acronym). You have to send the money you deduct from the employees, with some of your own money to Canada Revenue Agency (CRA) by the 15th of the next month. The amounts of EI, CPP and income tax that you deduct from your employees are called source deductions and the amount you send to the government is called your monthly remittance. Ideally, when you total up the source deductions for all your employees it will agree to the amount of your remittances. What do you need to start this process? • You need a list of your employees and how much you paid them in the calendar year as well as how much you deducted from each of them for EI, CPP and income tax. This list should look like this (http://www.basicboardgovernance.ca/T4-Tip-pic-3.pdf). • You also need the know the amount you have remitted to CRA and you get that either by adding up the amount on the 12 payments you made – or you can access your account on the CRA website and get the total from there. You need to know your business number to do that. • Once you have gathered the above information you can fill in the T4 Slips (http://www.basicboardgovernance.ca/T4-Tip-pic-1.pdf), one for each employee. You need the full name, address and social insurance number for every employee. On each T4 slip the total wages you paid to that employee are entered in box 14, CPP deducted goes in box 16 and EI is box 18, the tax you withheld is entered in box 22. The numbers that are entered in box 24 and 26 are the pensionable and insurable earnings for the year. Generally, these numbers are the same as box 14 until you reach the annual maximums. For 2017 the maximum number is box 24 is $51,300 and the maximum number is box 26 is $55,300. • You add up all the numbers on the T4 slips and fill in the T4 Summary (http://www.basicboardgovernance.ca/T4-Tip-pic-2.pdf). Box 16 is the total amount of CPP you withheld from employees, box 27 is the employer amount of CPP which is the same number as in box 16. EI withheld from employees is reported in box 18 and the employer amount should be 1.4 times box 18, because an employer is expected to send in 1.4 times the amount that was withheld from the employees. In our example the EI withheld is $1,222.50 (box 18) so the amount in box 19 should be $1,711.50. (1.4 times $1,222.50). The amount in box 22 is the income tax that was withheld from employees; luckily the employer does not have to match that! • Box 88 is the number of T4 slips you are filing and box 14 on the T4 summary is the total of all of the box 14 amounts on the T4 slips. • Now you add up the numbers on the summary in boxes 16, 27, 18, 19 and 22 and put the total in box 80. The amount that you sent to CRA during the year is entered in box 82 and the two numbers, box 80 and box 82 should be the same. If it balances you are finished, sign it and file it with CRA, either electronically or by mail, and do the dance of joy! • If your T4 summary does not agree to the remittances, then you should: o Check all your additions. o Check to see that you have made all your monthly remittances. If you know that you have not paid every month then the T4 Summary will show a balance owing, and it should agree to the month or months that you have not paid. o If you have made payments but the summary does not agree to the remittances then it is possible you made mathematical errors during the year. Depending on how much money you owe, you could decide to check each month to see if you can figure out where you made a mistake in remitting to CRA. If the amount of the difference is small then you might just send it with the summary, rather than revisiting all your calculations. This will depend on your tolerance for bookkeeping.
Views: 3345 Debi Peverill
Chapter 12 - Calculating Total Earnings and Payroll Tax Withholding
 
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This screen recording demonstrates the steps in calculating total earnings and also the calculation of federal income tax, social security tax, and medicare tax. These concepts were demonstrated through the completion of Work Together 12-1 & 12-2
Views: 43410 MrsDePriestSHS
How to Pay Payroll Liabilites in QuickBooks
 
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Payroll can get overwhelming, here's a quick video on how I recommend paying your payroll liabilities. Remember I'm not a tax professional ;) I'm an entrepreneur who specializes in QuickBooks. Join my Quarterly and Year End Forms Course and learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: QBO: https://canduskampfer.com/YearEndFormsQBO Desktop: https://canduskampfer.com/YearEndTaxForms Don't miss a tip, Join my Tips & Tricks: https://CandusKampfer.com/tips Candus' Free Mini Course: https://canduskampfer.com/minicourse/ Find out how to Join my QuickBooks Simplified Community: http://quickbookssimplified.com Are you new to QuickBooks or are you struggling to figure out the software? Would you love a course that is step by step vs searching for each answer and trying to figure it all out on your own? I would like to share with you my course called Confidence with QuickBooks. Everyone who has taken the course loves it. For more details visit: http://ConfidenceWithQuickBooks.com If you need help with QuickBooks, set up an appointment here: https://canduskampfer.com/private-sessions-with-candus/ Click here to be notified of upcoming Webinars & Workshops: https://canduskampfer.com/webinar-wai... Learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: https://canduskampfer.com/quarterly-and-year-end-forms-cou Have a great day! Candus :)
Views: 31274 Candus Kampfer
11. Quickbooks Online - What is Tax Deductible?
 
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COMPLETE QUICKBOOKS PLAYLIST: https://www.youtube.com/watch?v=hdRLWj4K6aA&list=PLnWrVWj1APWsrEKbX8ZdhRMTvqONkc24d MY COOKING / PERSONAL CHANNEL: https://www.youtube.com/watch?v=ekSlt4mox10&list=PL6oq3Yy8TRGwG6e9O2ltr0aUdpYHMfkj6
Views: 70777 Village Park Source
How to pay Payroll Taxes through QuickBooks
 
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Want to learn E-Pay instead: https://canduskampfer.com/epay-to-pay-payroll-taxes-in-quickbooks/ Join my Quarterly and Year End Forms Course and learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: QBO: https://canduskampfer.com/YearEndFormsQBO Desktop: https://canduskampfer.com/YearEndTaxForms Don't miss a tip, Join my Tips & Tricks: https://CandusKampfer.com/tips Candus' Free Mini Course: https://canduskampfer.com/minicourse/ Find out how to Join my QuickBooks Simplified Community: http://quickbookssimplified.com Are you new to QuickBooks or are you struggling to figure out the software? Would you love a course that is step by step vs searching for each answer and trying to figure it all out on your own? I would like to share with you my course called Confidence with QuickBooks. Everyone who has taken the course loves it. For more details visit: http://ConfidenceWithQuickBooks.com If you need help with QuickBooks, set up an appointment here: https://canduskampfer.com/private-sessions-with-candus/ Click here to be notified of upcoming Webinars & Workshops: https://canduskampfer.com/webinar-wai... Learn how to process: 941, 940, DE9, DE9C, W2's, W3, 1099-misc & 1096. Click here to join and for more details: https://canduskampfer.com/quarterly-and-year-end-forms-cou Have a great day! Candus :)
Views: 38026 Candus Kampfer
What are IRS Payroll Deductions? TurboTax Tax Tip Video
 
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https://turbotax.intuit.com Learn more about how payroll tax deduction affects your refund and your paycheck. TurboTax Home: https://turbotax.intuit.com TurboTax Support: https://ttlc.intuit.com/ TurboTax Blog: http://blog.turbotax.intuit.com TurboTax Twitter: https://twitter.com/turbotax TurboTax Facebook: https://www.facebook.com/TurboTax TurboTax Pinterest: https://www.pinterest.com/turbotax/ TurboTax Tumblr: http://turbotax.tumblr.com/
Views: 2179 TurboTax
How to Setup Payroll Items in QuickBooks 2018
 
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Get the complete 7-hour course for QuickBooks 2018 course here ► https://www.simonsezit.com/courses/quickbooks/learn-quickbooks-2018-training-tutorials/ During this QuickBooks 2018 tutorial video, we will talk about setting up payroll items and demonstrate adding new payroll items using EZ setup and custom setup. Checkout some of our other training on YouTube: QuickBooks Pro 2017 tutorials: https://www.youtube.com/playlist?list=PLzj7TwUeMQ3jmQNGnrpG2YC26WHfTIVAb Excel 2016 for Beginners training: https://www.youtube.com/playlist?list=PLzj7TwUeMQ3jUeMoLReqNzzuKj7rdLhZ2 Excel 2016 Advanced training: https://www.youtube.com/playlist?list=PLzj7TwUeMQ3hzyKexLt4YW-AaIUPeiCen Word 2016 for Beginners training: https://www.youtube.com/playlist?list=PLzj7TwUeMQ3gLcSQaxPMW_vma_z3xiwF1 Stay in touch: SimonSezIT.com: https://www.SimonSezIT.com/ StreamSkill.com: https://streamskill.com/ YouTube Channel: https://www.youtube.com/user/simonsezittraining Twitter: https://twitter.com/SimonSezIT If you enjoyed the video, please give a "thumbs up", leave some comments and subscribe to the channel ;-)
Views: 21364 Simon Sez IT
Payroll Statutory Deductions and reports  step by step process  in Tally  ERP9  Part 2
 
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We Provide the Part Time Accountant for Your Firm Income Tax Return, Service Tax Return, TDS Return, GST Return, New & Correction Pan Apply,Salary Return, Bank Reconciliation, Party Account Reconciliation, Any Accounting Work You Contact to me any time Facebook- https://www.facebook.com/lalitlks Facebook Page - https://www.facebook.com/gstyojanaonlinetallyclass/ Email - [email protected] & [email protected] अन्य छात्र को साझा करें (Share to Other Student) Subscribe channel and share to other for latest update on Lalit Sharma channel नवीनतम अद्यतन के साथ जुड़ने के लिए सदस्यता लें (subscribe to connect with latest update) My Personal Face-book Account (Any Query – Income Tax / GST / TDS / BOOK KEEPING/AUDIT)https://www.facebook.com/lalitlks Facebook (Like to Connect) https://www.facebook.com/lalitlks for more details mail to [email protected] or [email protected] Prepared By (Lalit Sir & Miss Sarika )
How to Setup Payroll in QuickBooks Online
 
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Includes Adding Employees, end to end process thru pay day.
Views: 59740 APDWebVids
Payroll Statutory Deductions and reports -step by step process  in Tally .ERP9  (Part-2)
 
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Hello all Welcome on Tally online class !!! This video is related to Payroll statutory deductions and reports. Step By Step Process.
Views: 8762 TALLY ONLINE CLASS
Paying wage garnishment deductions
 
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Setting up QuickBooks to pay the wage garnishment deductions to the appropriate agency.
Views: 833 Lance Wilkins
Vacation Pay, Deductions and Garnishments in QuickBooks
 
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Vacation Pay, Deductions and Garnishments in QuickBooks For more information or advice please find us: Website: dbs-hsv.com Facebook: www.facebook.com/dbshsv
Payroll Deductions for Health Insurance : Health Insurance Info
 
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Subscribe Now: http://www.youtube.com/subscription_center?add_user=ehowfinance Watch More: http://www.youtube.com/ehowfinance Payroll deductions for health insurance are typically coming out of your check on a pre-tax basis. Find out about payroll deductions for health insurance with help from an experienced insurance professional in this free video clip. Expert: Pete Villemain Bio: Pete Villemain is the President of Employee Benefit Services in San Antonio, Texas. Filmmaker: Vincent Vasquez Series Description: When picking out a health insurance plan, you always want to make sure that it's going to cover the specific needs of your individual family members. Get information on insurance with help from an experienced insurance professional in this free video series.
Views: 2026 ehowfinance
www.cmllp.com - Tax Tip Tuesday: Corporate HST and Payroll Source Deductions
 
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John Paul McDonald of Campanella McDonald LLP discusses potential director liability related to HST and payroll source deductions owing by small business corporations in Canada If you own an incorporated small business in Canada that owes HST or payroll deductions to the CRA you will want to watch this video. Legally, amounts owing on HST or payroll source deductions can become a liability of a corporate director if they are not paid. This means that declaring corporate bankruptcy may not be an option. Campanella McDonald LLP is a boutique accounting firm servicing Oakville Ontario and the Greater Toronto Area. We focus on tax, accounting, and financial advisory for small business owners, professionals and real estate investors. Hi, and welcome to Campanella McDonald's Tax Tip Tuesday video blog. So today we're going to be talking about corporate HST and payroll source deductions. The first thing to note is that any HST and payroll deductions payable to CRA within the corporation are not always limited by the corporation. That means that if the company ends up having to declare bankruptcy, these amounts could actually follow through to the directors of the corporation. These liability counts are the ones that we see a lot of clients falling into severe financial problems with, as there are significant penalties for late and non-filing, and interest compounded on balances owing for late payments. To avoid paying substantial penalties and interest, we advise clients to, at a bare minimum, file on time, and if the money is available, pay on time. If you find yourself in this situation or if you have any questions, please feel free to contact us. Until then, we'll see you guys next week. Thanks. http://www.cmllp.com/
How does UK Tax work? - What you need to know about HMRC & PAYE
 
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UK Tax can be confusing. This short video gives a visual explanation of how tax and tax codes work and uses some examples to show you how you pay tax. Further information on tax codes, taxable benefits and other deductions are covered in part 2. Check out other relevant videos: How do UK tax codes work (part 2)?: https://youtu.be/mYHLF0JOuCs Basic Finance Guide Part 1: https://youtu.be/gixva7aWFUg Our FREE finance spreadsheet is available from this link: http://s000.tinyupload.com/?file_id=50519842102171355303 This spreadsheet will help you start tracking your finances and create budget to start building wealth. Log and track your transactions, paste them directly from your online bank, categorise, set savings goals and get detailed analysis. Subscribe to our channel for more tips. You can watch the spreadsheet tutorial here for a further insight: https://youtu.be/75ttMLaVa2E Music: http://www.purple-planet.com Video: Videezy.com Pictures & Video: Pexels.com
Views: 52547 Fast Finance
Setting Up Payroll Deductions in Sage Businessworks Accounting
 
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Setting Up Payroll Deductions in Sage Businessworks Accounting
Views: 1847 SageSupport
Understand Your Paycheck (What Are The Deductions On Your Pay Stub)
 
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Understand Your Paycheck (What Are The Deductions On Your Pay Stub) // In this video, I’m sharing what you need to know about your paycheck stub. Your pay stub holds vital information that can help you cut down your taxes and keep more money. Make sure you understand your paycheck and know the deductions you have. RESOURCES AND LINKS MENTIONED IN THIS VIDEO: Grab your FREE Budget Success Checklist mentioned in this video: http://merelynne.com/budgetsuccesschecklist Read more: http://www.merelynne.com/paystub Grab the same budget spreadsheet we use that helped us pay off over $40,000 worth of debt: http://meredithrines.com/shop/cfobundle Watch my video on how to setup your budget planner: https://youtu.be/_HC2VSog8Jc Make money shopping online with Ebates: http://bit.ly/meredithebates Subscribe to Meredith Rines Here: https://www.youtube.com/c/merelynne __________ Have you been trying to get your budget in order, but not having any luck? Well let me be your guide. In my Chief Financial Officer Bundle you'll learn how to setup the perfect budget for your family. The bundle comes with a downloadable Excel template and instructions to help you: http://meredithrines.com/shop/cfobundle __________ TWEET THIS VIDEO: https://ctt.ac/997Z5 Meredith Rines on Social Media: Blog: http://www.merelynne.com Facebook: https://www.facebook.com/meredithrines Instagram: http://instagram.com/meredithrines Twitter: https://twitter.com/meredithrines About Meredith Rines: I'm a blogger at http://www.merelynne.com. I'm a boy mom to one fun-loving toddler. I love sharing my frugal living tips, budgeting hacks, and simple recipes. What would you like to see next? Leave me a comment letting me know! DISCLAIMER: This video and description contains affiliate links, which means that if you click on one of the product links, I’ll receive a small commission. This helps support the channel and allows us to continue to make videos like this. Thank you for the support! #meredithrines #understandyourpaycheck #makemoremoney https://youtu.be/nJ9mU6nVLTA
What to Claim on Tax Return and other Military Tax Deductions | Online Tax Australia
 
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http://www.onlinetaxaustralia.com.au/ - Tax Tips Australia This video will show tips for tax deductions, tax claim, tax return and tax refund for the Australian defence force. Online Tax Australia Tips on Australian Tax goes through: How to tax return How to claim tax Zone rebate explained & other Tips for tax deduction Produced by: http://creativa.com.au/
Views: 705 OnlineTaxAustralia
I Want to Make a Payroll Tax Deposit (DE 88) Payment
 
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e-Services for Business video describing how to make a payroll tax deposit payment.
Views: 8137 CaliforniaEDD
CIS (Construction Industry Scheme) quickbooks online
 
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Short video on how to use the CIS function within quickbooks online
Create Employee pay head deductions under payroll practical in tally/learn payroll /s.no 186
 
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Create Employee pay head deductions under payroll practical in tally/learn payroll accounting
Views: 1350 TALLY ONLINE CLASS
SurePayroll - How to Calculate Payroll Taxes
 
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Payroll taxes are federal, state and local taxes withheld from an employee's paycheck by the employer. These taxes consist of income taxes as well as Social Security and Medicare taxes, the latter two often referred to as "the payroll tax."
Views: 93 SurePayroll Inc.
Using Excel spreadsheets to track income, expenses, tax deductions and savings
 
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The spreadsheets can be purchased from my shop here: http://etsy.me/2sj0HLl 100 tax deductions checklist: http://www.allaboutthehouseprintablesblog.com/100-tax-deductions/ Spreadsheets for tracking business income & expenses: http://etsy.me/2sjaX6z Download free printables: https://app.convertkit.com/landing_pages/67222 ________________________ ***OTHER PLACES YOU CAN FIND ME*** Blog: http://www.allaboutthehouseprintablesblog.com/ Printables Etsy shop: https://www.etsy.com/au/shop/AllAboutTheHouse Digital paper shop: https://www.etsy.com/au/shop/PaperCra... Pinterest: https://au.pinterest.com/aboutthehouse/ Instagram: https://www.instagram.com/allaboutthe... Online shop: http://www.allaboutthehouseprintables... Email: [email protected]
Views: 15845 All About Planners
Intuit Online Payroll Setup - Taxes
 
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This video walks through the process of completing the taxes section when setting up Intuit Online Payroll. This includes verifying your filing name and address, entering in your federal (EIN, 941/944 filer, deposit frequency) and state (tax rates, deposit frequency) tax information.
Views: 6200 IntuitPayrollSupport
Gross Pay and Net Pay - Why Do You Care? Nanny payroll tax deductions explained.
 
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All too often misunderstandings about Gross pay and Net pay, as well as tax responsibilities, cause angst and upset in the relationship between the family and their household help. What are the deductions from a nanny paycheck. If the family doesn't deduct anything what financial liabilities do the family and nanny have? HomeWork Solutions is the nation's leading "Nanny Tax" services firm & an industry expert in payroll and compliance issues for any type of household employment situation. Senior Care? Housekeeper? Nanny? Let HomeWork Solutions help! Download our free Household Payroll Quick Start Guide: http://bit.ly/14fcDHf
Views: 1425 HomeWork Solutions
How Much Does FICA Take Out of Paychecks? | Paycheck Deductions Tutorial
 
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Resources on FICA deductions, like the IRS employer tax guide and 2016 Social Security changes: https://www.patriotsoftware.com/payroll/training/blog/much-need-take-employees-paycheck/ Payroll Training blog: https://www.patriotsoftware.com/payroll/training/blog/ Try our online payroll software: https://www.patriotsoftware.com/payroll/ Visit our homepage: https://www.patriotsoftware.com/ Hi, I’m Tony, and I’m here at Patriot Software to answer your question about paycheck deductions: How much does FICA take out of paychecks? Let’s first address the question, “How much does social security take out?” by taking a look at the wage base for Social Security tax. The limit to the wages subject to Social Security tax in Twenty Sixteen is One hundred and Eighteen Thousand, and Five hundred dollars. The Social Security tax rate is 6.2%. This means that the maximum social security tax employees and employers will each pay in Twenty Sixteen is Seven thousand, Three hundred and Forty-seven dollars. Next, let’s address the question, “How much is taken out for Medicare?” When it comes to Medicare Tax, there is no limit to the wages subject to the 1.45% tax rate. In fact, for a single income household in Twenty Sixteen, wages paid in excess of Two Hundred Thousand dollars are subject to an additional 0.9% employee-only Medicare tax rate. For married couples filing jointly, wages paid in excess of Two hundred and FIFTY thousand dollars are subject to that same additional 0.9% employee-only Medicare tax. So in the end, the FICA tax rate for employers and employees is 7.65% each. A self-employed individual will have to pay both the employer and employee portions of this tax, for a minimum combined total of 15.3% in FICA taxes. These paycheck deductions can get confusing fast, so check out the link below for the Wage Bracket Tables found in the IRS Employer’s Tax Guide. If you’re still stressed about Payroll Tax Withholding and paycheck deductions, see if an online payroll software is right for your small business. Thanks for watching! For more payroll tips and training, subscribe to our channel below and follow our blog. All helpful links are in the description below.
Views: 3177 Patriot Software
How To Record Payroll Tax Payments In Quickbooks - Payroll Deductions In Quickbooks
 
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WorldPay Card Processing for QuickBooks: http://bit.ly/QB-Pay Or call us today: 888-282-8833 how to record payroll tax payments in quickbooks - how to record payroll liabilities in quickbooks desktop.
Views: 3 Justa Goldsby
How Do I Pay Myself in a Single-Member LLC? - All Up In Yo' Business
 
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Contact Aiden and learn more at www.180lawco.com. [email protected] | 720-379-3425 One question that I get asked quite often, because it’s a really good question, is how the owner of a single-member LLC is supposed to pay him/herself. There are two possible answers to this question, depending on how the LLC is taxed. Unless the LLC elects otherwise, a single-member LLC is considered a “disregarded entity” and all of the income to the LLC is treated as income to the business owner, and is all subject to self-employment tax. So basically, the owner of a single-member LLC can pay himself however and whenever he wants, keeping in mind a few important considerations: 1. Make sure you are prepared to pay taxes. Since the LLC is a disregarded entity, if the business earns $100k but you only “pay” yourself $50k, you are still going to be responsible for paying all of the taxes, including self-employment taxes, on the full $100k. (For simplicity’s sake, I am pretending there are no deductions or anything.) So you need to set aside enough money to make sure you can cover your taxes. 2. The business has to remain adequately capitalized. This means that you need to keep enough money in the business to cover all your overhead, debts, bills, salary for employees, etc. You should also leave some extra “padding” for possibly building up your business, purchasing equipment, and whatever else you may decide to do with your business. In the books, any payments to yourself should be recorded as “Member Distribution” or “Member Withdrawal.” If the LLC elects to be taxed as an S Corporation, on the other hand, you have to be paid a “reasonable” salary. Self-employment taxes will only be paid on that salary rather than on the full amount of profit the business earns. Any money that the business owner takes above that reasonable salary is considered a dividend and won’t be subject to self-employment taxes. To learn more about S Corporations, watch my earlier video What the Heck is an S Corporation at http://youtu.be/i5to7Da3wMw?list=UUNh7tqEn68tf0oOfq4NsFsg If your LLC is not taxed as an S Corp, you don’t need to put yourself on payroll, since those member distributions aren’t treated as normal payroll. If your LLC is taxed as an S Corp, then the salary you earn can be part of your payroll, and any additional dividends will be separate from that. Whether or not you elect to have your LLC taxed as an S Corp and how to handle and record the money that you pay yourself is an important conversation that should be had with your accountant, bookkeeper, & attorney. Doing it the “right” way can help minimize your tax liability and can make your life (and that of your accountant) much easier come tax time. Thumbs up & subscribe if you want more AUIYB! Follow Me! IG: @allupinyobusiness Twitter: @_AllUpInYoBiz www.facebook.com/180lawco www.google.com/+aidenkramerlawAUIYB www.pinterest.com/AUIYB The information provided in this video should not be construed or relied on as legal advice for any specific fact or circumstance. Its content was prepared by 180 Law Co. LLC, with its principal office located at 50 S. Steele Street, Suite 250, Denver, CO 80209. This video is designed for entertainment and information purposes only. Viewing this video does not create an attorney-client relationship 180 Law Co. LLC or any of its lawyers. You should not act or rely on any of the information contained herein without seeking professional legal advice. All Up In Yo’ Business® is a registered trademark of 180 Law Co. LLC. ©180 Law Co. LLC. All rights reserved.
Views: 439090 180 Law Co. LLC
How Amazon Paid $0 Federal Income Tax in 2018
 
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Amazon paid $0 in federal income taxes in 2018. On top of that, the company also received a multi-million dollar tax rebate from the federal government. How does the company do it? President Trump's tax cuts, aggressive revenue reinvestment, years of R&D, and employee stock compensation all helped. Does America have a corporate income tax problem? Amazon is one of the world's most valuable companies, valued at nearly $800 billion, and the e-commerce giant pulled in $232.9 billion in global revenue in 2018. And yet, Amazon's federal tax bill this year: $0. For the second year in a row. In fact, Amazon is actually getting a federal tax refund of $129 million this year, due in part to a combination of tax credits and deductions. This is despite the fact that Amazon nearly doubled its taxable income in 2018 to $11.2 billion, from $5.6 billion a year earlier. In other words, Amazon is basically paying a -1 percent federal income tax rate this year after reportedly paying a federal rate of more than 11 percent between 2011 and 2016, according to The Week. Sen. Bernie Sanders, I-Vt., who has criticized Amazon in the past for not paying higher federal taxes, took to Twitter to point out that any Amazon Prime member paid more for that program's annual fee ($119) than the company paid in federal taxes. Prime has 100 million subscribers. "Amazon pays all the taxes we are required to pay in the U.S. and every country where we operate, including paying $2.6 billion in corporate tax and reporting $3.4 billion in tax expense over the last three years," an Amazon spokesperson said in a statement provided to CNBC Make It. Amazon reported its sizable federal refund in a recent corporate filing for the company's fourth-quarter earnings report. However, Amazon also notes in that filing that it will pay $756 million in total taxes this year, between state and international taxes. A report this week from the Institute on Taxation and Economic Policy, or ITEP, a nonpartisan and nonprofit tax policy think tank, pointed out the fact that Amazon will not pay federal taxes for the second year in a row. In fact, last year, Amazon received an even larger refund, getting $137 million from the federal government. » Subscribe to CNBC: http://cnb.cx/SubscribeCNBC » Subscribe to CNBC TV: http://cnb.cx/SubscribeCNBCtelevision » Subscribe to CNBC Classic: http://cnb.cx/SubscribeCNBCclassic About CNBC: From 'Wall Street' to 'Main Street' to award winning original documentaries and Reality TV series, CNBC has you covered. Experience special sneak peeks of your favorite shows, exclusive video and more. Connect with CNBC News Online Get the latest news: http://www.cnbc.com/ Follow CNBC on LinkedIn: https://cnb.cx/LinkedInCNBC Follow CNBC News on Facebook: http://cnb.cx/LikeCNBC Follow CNBC News on Twitter: http://cnb.cx/FollowCNBC Follow CNBC News on Instagram: http://cnb.cx/InstagramCNBC #CNBC #Amazon #Taxes How Amazon Paid $0 Federal Income Tax in 2018
Views: 2177134 CNBC
Income Tax Calculator | How To Calculate Income Tax and Deductions Automatically 🔥🔥🔥
 
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Now you can calculate your income tax and deductions automatically by using Tax Tools and Tax calculator designed by Income Tax Department. Automatic Calculation of HRA, Gratuity, etc. You can calculate your tax liability in advance for the purpose of tax planning. Estimate your tax refund to find out how much you'll get back this year on your tax return or how much you'll owe. Click on this link to use Tax Tools : https://www.incometaxindia.gov.in/pages/tps/tax-tools.aspx Deductions under Income Tax : https://www.youtube.com/watch?v=pojzYELyWps ITR for Employee : https://www.youtube.com/watch?v=gY2N5-Ym6f4 ITR for Small Businessmen : https://www.youtube.com/watch?v=p-dWBWoknJ0&t=1s for any query : Email : [email protected] Facebook : https://www.facebook.com/charteredwisdom/
Views: 4864 Chartered Wisdom
Salary Calculation Explained | Monthly Payroll Formula & methods
 
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☑️Open Demat a/c with Zerodha using this link, get 7 investing courses FREE of cost: https://zerodha.com/open-account?c=ZMPCMI In this video, you will learn how to calculate monthly salary and payroll. जानिये सेलेरी कैसे बनाये और सीखिए सेलेरी की केलकुलेशन | We will teach different methods of salary calculation. All formulas will be shown via excel calculation. You will be able to compute salary easily after watching this video. This can help millions of employers who struggle every month to manage the payroll process of a lot of employees. We have provided an excel salary sheet through which you can easily manage your payroll process. We will calculate salary using following methods Working days method of the salary calculation Total Days Method of Salary Calculation Daily wages Method of Salary Calculation This Video Includes:- salary calculator excel salary calculation formula salary calculation with the example payroll calculations payroll accounting payroll calculation in excel For ESI, PF Consultancy or Payroll Outsourcing http://esipfadvisor.com/ Like us on Facebook: https://www.facebook.com/esipfadvisor Follow our Blog: http://esipfadvisor.com//blog Gratuity Calculation Methods and Formula https://youtu.be/focDrERANhs Subscribe and Share.
Views: 31181 Labour Law Advisor