Payroll Services in Scarborough and Toronto

Efficient and Accurate Payroll Services for Your Business.

Get payroll services for your business from Kennedy Tax and Accounting Inc. and keep pay runs and remittances on schedule. Our payroll services are designed to help businesses streamline their payroll processes while ensuring accuracy and efficiency. We understand the importance of timely and error-free payroll processing, which is why our expert team uses the latest tools and technology to deliver reliable and comprehensive payroll services tailored to your business needs.

What is a Payroll Service ?

Payroll Services refer to the administration of employees’ pay as well as tax collection and payments. There are various payroll management options for small businesses. One option is to conduct payroll internally. This gives the business more flexibility and customization but also requires more time, effort, and knowledge on their part. Businesses also have the option to outsource the task to a third-party provider. This provider can handle all aspects of payroll. Outsourcing payroll can save a small business time and resources, but it also means giving up control to the provider.

Payroll Calculations

Payroll calculations in Canada refer to the process of determining the amount of money that employees should be paid for their work, including regular wages, overtime pay, bonuses, and any other forms of compensation. Payroll calculations also include the calculation of taxes and deductions that should be withheld from employee paychecks. Some of the steps that are typically involved in payroll calculations in Canada are:

• Determine the employee’s gross pay.
• Calculate deductions and taxes.
• Calculate net pay.
• Prepare and distribute paychecks. Prepare and file tax forms.

The benefits of using payroll services for small businesses.

• Compliance with laws and regulations: Payroll service providers can ensure that the business complies with all relevant laws and regulations, which can help businesses avoid penalties and fines.
• Accurate and timely payments: A payroll service provider can ensure accurate and timely payment of employee compensation, which helps improve employee morale and reduce the risk of disputes.
• Expertise: Payroll service providers can provide guidance and support to small business owners, which can help to ensure that the business is running smoothly and effectively.

Why Should You choose Kennedy Accounting As your Payroll Service Provider ?

When it comes to managing a company’s finances, payrolls and corporate accounting go hand in hand. As a business owner, it’s crucial to register for a payroll services program at the earliest possible opportunity, especially upon hiring employees. That’s where Kennedy Tax and Accounting comes in – we offer payroll services and payroll management in Canada, alongside the latest accounting software that ensures timely and accurate preparation of your payrolls. By partnering with us, you can rest assured that your business’s financial management is in capable hands, allowing you to focus on your core operations and growth.

Our Payroll Services Include:

• Prepare payrolls on a weekly, bi-weekly, semi-monthly, and on monthly basis.
• Monthly remittance report (CPP, EI, and Tax) to avoid penalties and interests.
• Payroll tax services, T4, T4A, and supplementary.
• Preparation and issuance of ROE certificate.
• WSIB report and related services.

Payroll Management Solutions

Payroll management solutions refer to a range of software and services designed to assist businesses in handling employee paycheck calculations and distribution, as well as ensuring compliance with applicable tax and labour regulations. From basic payroll calculators to more advanced systems, these solutions offer a variety of features, including time tracking, direct deposit, and electronic filing of tax forms. By leveraging such tools, businesses can streamline their payroll processes, enhance efficiency, and minimize the risk of errors or non-compliance issues.

The main benefits of using a payroll software for small businesses include:

• Automation – can automate many of the tasks associated with payroll, saving your business time and resources.
• Accurate calculations – ensures that employee paychecks are calculated accurately and that taxes are withheld and remitted correctly under Canadian laws.
• Compliance – Payroll software can help a small business to stay in compliance with federal and provincial laws regarding payroll and taxes in Canada.
• Reporting – The software can generate a wide range of reports and can be useful for compliance and record keeping.
• Customization – payroll software allows businesses to customize their payroll process, such as adding custom deductions, to cater to the specific needs of the business in Canada.

How a pay run is handled here

Each pay run starts with gross pay, then deductions and income tax, then net pay, then the remittance. The firm can run payroll weekly, bi-weekly, semi-monthly or monthly, send the monthly CPP, EI and tax remittance, prepare T4 and T4A slips and the summaries, issue an ROE, and prepare the WSIB report. Register for a payroll program when the first employee is hired. The books that sit under the payroll are on the bookkeeping page. There is no published per-pay price. The quote follows how many employees and how often you pay them.

Kennedy Tax & Accounting Inc. works from one Scarborough office near Kennedy Station. You can come in or send the documents. English, Bengali and Tamil are spoken. Manoranjan (Mano) Talukder, CPA, leads the firm, which has done this work since 2010. Personal income tax returns start at $49.99 + HST. Other work is quoted before it starts.

Book from the contact page. If the CRA writes after a return is filed, bring that letter in. The firm explains how the return was prepared.