Artashes said:I will save you the trouble: a company generating above $8,150 CAD annually, should file and pay taxes; and ANY registered company, even if income is $0 CAD, should nevertheless file what is called an "Annual Return" (it only costs $20 if done on the government web site).
Thanks for the info. By no means are we a large company from starting, and initially were not generating the above said amounts. Since I'm not the one directly responsible for finance, I do not have all information handy at the moment.
Nevertheless, our year-end income expectations have only risen for the last few months, and thus have started the backend business work. Indeed, you are likely aware of the services provided by H&R Block to meet the tax preparation and filing needs for small businesses. We have grown only susbstantially in the last few months as a small business, and thus only consulted the tax prep firm relatively recently.
Keep in mind that to employ people, you HAVE to be a registered entity. However, I searched the Federal Corporations database for "polurnet" and the search came empty. Could you please tell me the registered name of your company?
Still in progress, we have not been notified of the new status of application yet, they usually take several weeks for processing. Year-end income is only considered to be higher than $8k for the current year, not previously.
Please provide a name of your independent auditor, and their contact information. Tip: Usually, those are registered and certified accounting/law firms.
H&R Block; we are still researching other possiblities as they have informed us there is no immediate need for previous year's revenue.
Also, not clear... if you are saying a third-party deals with business operations, then its not you who hired a 15-year old in the first place? I thought you dealt with him directly, as you said so many times? Then if a third-party is responsible for hiring decisions, what does it say about them to be hiring minors without "proper application" and screening process?
We don't meet with the accounting firm on a daily basis, Steve only joined since the new year, and was previously only a customer with us.
Minimum wage rates as May 1, 2005 in Canadian currency:
General rate
$7.60 / hour
Employees who usually receive tips
$6.85 / hour
So how can you say your rates are legal?
I think I made it clear the NP post about employment salaries is not accurate any longer; jm's post was in july, when we were still small. The proof now is we recently hired two part-time technicians who formerly worked for HostingZoom and HostGator. They obviously do work for hourly wages that meet their expectations, and are thus higher than the legal minimum wages quoted above; it's also paid in $USD currency.
Since I will be extremely busy for the next coming weeks, I likely won't have any more time to visit this forum to check for questions. When I do return, I'll see if I can update the situation.
Thanks.
Last edited: