Hands-On Accounting

Affordable professional bookkeeping, tax submissions & payroll services for small businesses and entrepreneurs. If you're frustrated and wasting time, we are here to help!

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by sysadmin
on September 20, 2024

How is your employee net pay calculate with employment expenses?

Arriving at net pay for your employee’s pay period is different what goes on employee expenses?

Are you a licensed real estate agent, the salesperson on a salary/commission or truck driver?

Deducting out of pocket expenses are not travel related for vehicle, tools or meals.

Keep all receipts for these expenses.

Employment Expenses Form

You may be able to deduct all or a portion of your cell, home, auto, computer, and internet.

The Employee Expense form is a questionnaire to be completed by the employer,

  • If you require an employee to travel away from the place of employment
  • Are you paying commissions to your employees or consultants?
  • Do you understand the limitation of employment expenses on commissions?
  • How are you calculating your apprentices, expenses?

These are out-of-pocket expenses for business purposes are recorded, so you can deduct these expenses on your tax returns.

You are working for a mechanic vehicle, machinery or equipment.   A logbook of all trips taken is used to determine allowable expenses, tools.

New 2020 (CERB) apply Employment Insurances regular or sick benefits January 27, 2020,  did you qualify for the $2000 monthly benefits? Learn more about repayment of the CERB.

Filing Information Returns

We do this for you, look after the filing of your companies information returns,

      • Employment Income
      • Dividend Income
      • Employment Expenses
      • Annual Reports

by Feb 28 of the following year, so you can hire new employees in running your business.

Are you hiring new employees or leaving your company?

You can get help in hiring new employees when to give pay raises and what to do when your employee leaves? Learn more about the new wage subsidy or laying off employee under emergency response 2020 to 2021.

More about payroll

Learn more about your year-end payroll requires or employee travel expenses.

For further information, book an appointment or click link on the side bar  for a free 30 minutes consultation.

 

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