We provide Reliable Payroll Services for Businesses. Managing payroll in-house demands dedicated staff, software, and continuous training, which can quickly become costly. Additionally, the hidden expenses of payroll mistakes-such as overpayments, underpayments, and compliance issues — can be expensive to fix.

By partnering with Perfect Tax and Accounting Services, you can reduce these risks and avoid the financial consequences of payroll errors. Over time, the savings from accurate payroll processing can significantly improve your company’s bottom line, allowing you to reinvest in other critical areas of your business.

Our Reliable Payroll Services for Businesses ensure that your employees are paid accurately and on time, while staying fully compliant with all payroll tax regulations. We also maintain comprehensive records of all payroll transactions, including timesheets, pay stubs, and supporting documents, throughout the year.

We offer the following services to our clients:

1. Payroll Processing
   • Salary and Wage Calculation: Accurately calculating employee wages, salaries,
     and bonuses based on hours worked, overtime, and agreed-upon pay rates.
   • Direct Deposit Setup: Facilitating direct deposit payments for employees to ensure timely payments.
2. Tax Calculation and Remittance
   • Payroll Tax Withholding: Calculating and withholding applicable federal, provincial, and local taxes (e.g., income tax, El, CPP/QPP, and other deductions).
   • Tax Filing and Remittance: Ensuring timely and accurate remittance of payroll taxes to government agencies (e.g., Canada Revenue Agency or the IRS).
3. Compliance and Regulatory Reporting
   • T4 and T4A Filings (Canada): Preparing and filing annual T4 slips and T4A for employees and contractors.
   • W-2 and 1099 Filings (U.S.): Generating and filing end-of-year tax forms such as W-2 and 1099 for employees and independent contractors.
   • Statutory Compliance: Ensuring compliance with local, provincial, and federal labor laws, including vacation, sick leave, and holiday pay regulations.
4. Employee Benefits Management
   • Benefits Administration: Managing employee benefits such as health insurance, retirement contributions, and other company-specific perks.
   • Deductions and Contributions: Handling deductions for pension plans, RRSPs, health benefits, and other employee benefits.
5. Payroll Reporting
   • Pay Stubs: Providing employees with detailed pay stubs that show earnings, deductions, and net pay.
   • Payroll Reports: Offering businesses detailed payroll reports to help with financial planning, budgeting, and analysis.
6. Year-End Processing
   • Final Payroll for the Year: Ensuring accurate year-end payroll processing, including any adjustments to tax filings and year-end bonuses.
   • Record Keeping: Maintaining thorough payroll records to ensure accuracy and compliance with tax regulations.
7. Time and Attendance Tracking
   • Integration with Time Tracking Software: Offering services that integrate payroll with time and attendance systems to track employee hours worked, absences, and overtime.
8. Payroll Setup for New Employees
   • Onboarding: Managing the payroll setup for new employees, including collecting necessary tax forms, bank details, and benefits selections.
9. Payroll Software Integration
   • Software Solutions: Helping clients choose and integrate the best payroll software for their needs, ensuring efficient processing and reporting.
10. Payroll Advisory Services
    • Tax Planning and Strategy: Advising clients on tax-efficient payroll structures, including income splitting, dividend planning, and compensation planning.
    • Audit Support: Providing support in case of payroll audits by tax authorities.