Payroll Services Newmarket
Professional Payroll Services in Newmarket by Roberts & Company Professional Corporation
We at Roberts & Company Professional Corporation are your trusted partner for comprehensive payroll services in Newmarket. With years of dedicated service and expertise, we pride ourselves on delivering top-notch payroll solutions to Richmond Hill, Aurora residents.
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With over three decades of experience, our specialized payroll services in Newmarket are designed to streamline your payroll processes, ensuring compliance with all local regulations. Contact us today to get professional payroll services.
Payroll Service in Newmarket and Surrounding Areas
Our payroll services encompass many solutions to cater to various business needs. These include -
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Employee data management: We ensure that all employee information is accurately recorded and securely managed, reducing the risk of errors.
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Payroll processing: Our advanced systems streamline the payroll process, from calculating wages to generating pay stubs.
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Tax withholdings and filings: We handle all tax-related tasks, ensuring compliance with federal and provincial regulations.
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Direct deposits and payslips: Our team provides your employees with convenient and secure access to their pay information.
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Customized reporting: Receive detailed reports tailored to your specific requirements, giving valuable insights into your payroll expenses.
Corporate Tax Services
Besides our payroll services, Roberts & Company Professional Corporation offers various corporate tax services. They are -
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Bookkeeping services
Our comprehensive bookkeeping services are tailored to meet the needs of Canadian businesses. Our services allow you to make informed decisions and ensure compliance with Canadian accounting standards.
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Government remittances and payroll
Navigating the intricacies of government remittances and payroll in Canada can be complex and time-consuming. We handle everything from calculating and withholding taxes to preparing and filing necessary reports.
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Financial statement preparations
Accurate and professionally prepared financial statements are essential for understanding your business's financial performance and position. These statements clearly show your business's economic performance, enabling you to make informed decisions.
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New business startup consulting
Embarking on a new business venture in Canada requires careful planning and strategic insights. Our services are designed to guide you through the process and ensure a solid foundation for your business.
Legal Process for Payroll Services
For setting up a business dealing in payroll services in Newmarket, you must follow these steps:
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Registration: Get your business registered with the Canada Revenue Agency (CRA). Once you do it, you will receive a Business Number (BN).
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Account setup: Then, you need to open a payroll program account with the CRA, which will remit all the deductions from the payroll deductions.
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Information collection: You must also collect information about your employees, such as their Social Insurance Numbers (SINs), Tax Forms (TD1), and other employment details.
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Determination: Then, you must establish the method (e.g., direct deposit, cheque) and the frequency (e.g., weekly, bi-weekly) of payment to your employees.
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Deductions: You need to keep track of all the deductions, such as income tax deducted from your employee's wages, their contribution to Canada Pension Plan (CPP), and Employment Insurance (EI) premiums.
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Remission: These deductions must be remitted to the CRA according to the scheduled day, monthly or quarterly).
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Preparation and distribution: All these transactions must be made clear to your employees through a detailed account of what has been deducted and remitted. It must also include gross pay, deductions, and net pay.
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Filing returns: You must file annual T4 slips and their summary to the CRA by the end of February each year.
FAQ
Here are a few frequently asked questions about our payroll services in Newmarket:
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How Can a Personal Tax Accountant Help Me?A personal tax accountant can advise you on various complex tax situations based on your needs. It includes educating you about investment income, rental properties, or self-employment.
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What Should I Bring to My Consultation With a Personal Tax Accountant?You can bring T4 slips, investment statements, expense receipts, and other relevant financial records. This will give us enough information to provide accurate advice and make your tax filing comprehensive.
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How Do You Support Clients Beyond Tax Season?We offer continuous guidance all year long. Whether you need help with CRA audits or planning essential life events, we have your back.
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How Can You Help with Corporate Tax Planning?Our team specializes in corporate tax planning, helping businesses minimize tax liabilities, stay compliant, and make strategic financial decisions to grow.
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Do You Offer Payroll Services?Yes, we provide reliable payroll services in Newmarket. We ensure your employees are paid accurately and on time while complying with payroll regulations.
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Can You Help with Personal Tax Preparation?Absolutely! Our team offers personalized tax preparation in Newmarket, ensuring you maximize your deductions and minimize your tax burden.
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Where Can I Find More Information about Your Services?For additional details and updates on financial best practices, visit our blog page. We regularly post insights and tips on everything from tax planning to new business consulting.
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Which Areas Do You Serve?We proudly serve the York Region, including Aurora, Newmarket, Richmond Hill, Markham, Vaughan, Bradford, King City, East Gwillimbury, and Woodbridge. Additionally, we extend our services to the Greater Toronto Area (GTA), especially for those working there during the day. Our office is located at 44 Wellington St E, Aurora.
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What Are The Services That You Offer?We offer many payroll services in Newmarket, including payroll processing and tax remittance. Along with these services, we offer corporate tax planning, bookkeeping services, financial statement preparations, new business startup consulting and personal tax planning services.
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Does It Benefit My Business?We ensure that tax regulations are met, on-time payments are made, and correct financial records are maintained. This allows you to ease the burden of these responsibilities and focus on other aspects of your business.
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Do You Handle Payroll Tax Remittances?Roberts & Company Professional Corporation offers and manages all the payroll tax remittances to the CRA.
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Do You Assist With Setting Up New Employees?We collect and record new employees' information, ensuring seamless integration into our payroll system.
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What Is Corporate Tax Planning?Corporate tax planning involves a proactive approach to managing your company's financial affairs to minimize tax liability while adhering to all Canadian tax laws and regulations.
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What Are the Benefits of Corporate Tax Planning?Our corporate tax accountant in Newmarket and surrounding areas can help you with the following: Increase your after-tax profits, allowing you to reinvest in your business or distribute more to shareholders. Improve your cash flow by optimizing tax payments throughout the year. Help you comply with complex tax regulations, avoiding costly penalties and interest.
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What Are Some Common Corporate Tax Planning Strategies?Maximizing deductions: Identifying and claiming all eligible business expenses as deductions can significantly reduce your taxable income. Utilizing tax credits: The Canadian government offers tax credits for specific activities, such as research and development, scientific research, and clean energy. Deferring income: Strategies like delaying invoicing or accelerating certain expenses can help postpone taxes on income until a later year. Structuring your business: Choosing the right business structure, such as a corporation or sole proprietorship, can impact your tax obligations. Call us today to get in touch with our experienced corporate tax accountants in Newmarket and surrounding areas.
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Why Is Professional Tax Preparation Important?Professional tax preparation ensures accuracy, compliance with tax laws, and maximization of deductions. Our experienced tax accountants in Newmarket guide you through the process, minimizing errors and stress.
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What Documents Are Required For Tax Preparation?Common documents include W-2s, 1099s, proof of deductions, and financial statements. Our team provides a comprehensive checklist to ensure nothing is overlooked.
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How Often Should Businesses Update Their Financial Records?Regular updates are crucial for accurate financial reporting. Our bookkeeping services in Newmarket maintain precise and up-to-date records, offering a reliable foundation for informed decision-making.
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How Can I Prepare for Tax Season?Preparation for tax season involves organizing your financial documents, such as income statements, receipts, and investment records. Our tax accountants in Newmarket can provide guidance on creating a comprehensive tax-ready portfolio.
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Are There Any Changes in Tax Laws That I Should Be Aware Of?Tax laws undergo regular updates, and staying informed about these changes is crucial for maximizing benefits and minimizing liabilities. Our team at Roberts & Company Professional Corporation stays abreast of the latest tax regulations, ensuring your tax strategy remains in compliance.
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What Tax Credits or Deductions Are Available for Small Businesses?Small businesses may qualify for various tax credits and deductions, such as the Small Business Deduction, Home Office Deduction, or credits for hiring apprentices. Our tax experts can identify applicable opportunities to optimize your tax position.
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Do You Provide Guidance on Tax Planning for Future Investments?Yes, our tax accountants offer strategic tax planning services to help you make informed decisions about future investments. Whether it's real estate, stocks, or business expansions, we can guide you on tax-efficient strategies to maximize returns. At Roberts & Company Professional Corporation, our differentiators include personalized service, in-depth expertise, and a commitment to client success. We go beyond traditional tax preparation, offering holistic financial solutions tailored to your unique needs and goals.
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Why Do I Need a Professional for Corporate Tax Preparation?Canadian corporate tax laws can be complex; even minor errors can lead to penalties and audits. Our experienced group stays up-to-date on the latest regulations to ensure your corporation maximizes deductions and minimizes tax liabilities.
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How Much Does Corporate Tax Preparation Cost?Costs can differ depending on the complexity of your corporation's finances. We offer affordable rates and will provide a clear fee quote upfront before we begin work.
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How Long Does the Corporate Tax Preparation Process Take?The timeframe depends on the completeness of your records and the complexity of your tax situation. We encourage you to contact us before the filing deadline to ensure a smooth process. In addition to our corporate tax preparation services, we also provide assistance with personal and corporate tax planning, bookkeeping services, and more.
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Which Tasks Under Bookkeeping Do You Offer?We offer a range of bookkeeping services, including customizing. With us, feel free to choose which services you want to opt for, from processing government remittances and payroll, monthly data processing and reconciliation, and processing accounts payable/receivable according to your needs.
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Do I Need to Prepare Financial Statements for My Business More Often?It must be prepared at least once a year. However, organizing it quarterly or monthly can also be beneficial because it allows you to monitor financial performance more closely.
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What Should I Look Forward to Considering I Am Interested in Your New Business Startup Consulting Services?Our services under new business startup consulting include incorporating a business, generating business plans and forecasts, management consulting, accounting systems design and on-site training, ensuring a solid start for your new venture.
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What is Included In Your Payroll Services, and How Can They Benefit My Business?Our payroll services include employee data management, payroll processing, tax withholdings and filings, direct deposits and payslips, customized reporting, etc.
