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Payroll

Complete Payroll Solution

Complete Payroll Solution

We will handle the entire payroll function for your business for a fraction of the cost of an in-house payroll employee or large payroll service providers.

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Overview

Accurate Calculation of Wages and Deductions:
  • We handle the precise calculation of wages for both salaried and hourly employees. This includes factoring in regular pay, overtime, bonuses, and applicable deductions such as taxes, benefits, and retirement contributions. Our system ensures that all calculations are made in accordance with current tax rates and employment standards, reducing the risk of errors.
Add or Remove Employees at Any Time:‍
  • Our payroll system is flexible and adaptable, allowing you to add or remove employees from the payroll roster as your team grows or changes. Whether you hire new staff, have temporary workers, or need to adjust payroll for employee terminations, our service easily accommodates these changes without hassle.
Hourly or Salaried Employees:
  • Whether your employees are paid hourly or on a salary basis, our payroll system can manage both types efficiently. We ensure that hourly employees are paid based on their worked hours, including overtime, and that salaried employees receive their fixed pay, with any necessary deductions or adjustments made automatically.
Access to Payroll Data Anytime:
  • We will provide you access to your payroll data. This includes detailed payroll reports, transaction history, and employee pay information. Whether you need quick access to data for financial planning, audits, or employee inquiries, you can easily retrieve this information online.
Provision of Paystubs to Employees:
  • We generate paystubs for your employees, detailing their earnings and deductions. These paystubs are conveniently delivered via email, ensuring that employees can easily access their pay information and keep records for tax purposes. This reduces administrative tasks and paper waste for your business.
Payroll Tax Payments Made to CRA:
  • To ensure compliance, we handle all payroll tax payments to the Canada Revenue Agency (CRA). This includes remitting employee and employer contributions to federal and provincial tax authorities, as well as handling other statutory deductions such as Employment Insurance (EI) and Canada Pension Plan (CPP) contributions. We make these payments on time, avoiding penalties for missed or late payments.
T4 Filing with CRA and Distribution to Employees:
  • At year-end, we take care of the entire T4 filing process. This includes preparing and submitting the T4 slips to the CRA, as well as distributing T4s to your employees. We ensure that all income, deductions, and tax information is accurately reported and delivered on time, helping your employees fulfill their personal tax obligations.
Payroll Tax Audits:
  • We will handle any payroll tax audits conducted by the CRA as part of this service. You can rest assured that our extensive experience in dealing with the CRA will allow us to audits in a timely and efficient manner.

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Key Benefits

Time and Cost Savings
  • Cost savings: Our services cost a fraction of large payroll service providers or hiring an in-house bookkeeper.
  • No Manual Calculations: We handle all wage calculations, including deductions for taxes, benefits, and other withholdings, which eliminates the need for you to manage these details.
  • Direct Deposits: Employees receive their pay directly into their bank accounts, avoiding delays and reducing the administrative burden of issuing physical checks.
Stress-Free Compliance with Tax Regulations
  • Payroll Tax Payments to the CRA: We take care of all payroll-related tax payments to the Canada Revenue Agency (CRA), ensuring that your business complies with all federal and provincial tax obligations.
  • T4 Filing and Distribution: We manage the filing of T4s with the CRA and distribute T4 slips to employees, so your team has the necessary documents at year-end without you having to manage the filing process.
  • Tax audits: We take care of all payroll tax audits.
‍Employee Satisfaction
  • Reliable Pay Delivery: Employees benefit from timely and consistent direct deposits, which improves their overall satisfaction with your company.
  • Access to Paystubs and Tax Documents: Employees receive detailed, easily accessible paystubs and T4 slips, giving them transparency and confidence in your payroll process.
Scalability for Growing Businesses
  • Flexible Solutions for All Business Sizes: Whether you're a small startup or a growing enterprise, our payroll service is scalable to meet your needs as your business expands.
  • Adaptable to Complex Payroll Needs: We can handle a wide range of payroll complexities, including multiple pay rates, benefits administration, overtime, and special deductions, ensuring your payroll grows with you.
Payroll
Reach out for a free consultation today!

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121 Lower Sherbourne St, Toronto, ON M5A 0W8

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+1 647 222 0236

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info@lux-cognita.com
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Your trusted partner for accounting, tax, and cutting-edge tech solutions for your business.

Whether you need your taxes filed, your payroll done, innovative web design, or custom software solutions, we’re here to help your business thrive. Reach out to us today, and let’s discuss how we can support your growth and success. We look forward to hearing from you!

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