How to start up a small business.Being in business can be as simple or as complicated as you want/need to make it. Circumstances CIRCUMSTANCES, evidence. The particulars which accompany a fact.2. The facts proved are either possible or impossible, ordinary and probable, or extraordinary and improbable, recent or ancient; they may have happened near us, or afar off; they are public or will dictate TO DICTATE. To pronounce word for word what is destined to be at the same time written by another. Merlin Rep. mot Suggestion, p. 5 00; Toull. Dr. Civ. Fr. liv. 3, t. 2, c. 5, n. 410. how complex your unique situation will be and those are usually related to scope or size of the business. For a small operation, it can be very simple. Name registration It is perfectly legal to operate as a business under your own name. If you want to give your business an identity (name), you would have to register that name with the Ontario government. Registration does not protect the name or imply any other legal standing. PST/GST retail sales tax sales tax, levy on the sale of goods or services, generally calculated as a percentage of the selling price, and sometimes called a purchase tax. It is usually collected in the form of an extra charge by the retailer, who remits the tax to the government. Depending on the exact nature of what you are providing, you may be required to charge PST PST Paroxysmal supraventricular tachycardia, see there (8%). Generally, PST is only charged on items, but there are some services that are PST taxable--graphic design is one. To be certain, call (800) 461-1564. If your total revenue for any continuous 12-month period is less than $30,000, you do not need to worry about GST GST abbr. Greenwich sidereal time GST (in Australia, New Zealand, and Canada) Goods and Services Tax (7%). In some instances, it is advantageous to register for GST even if you are under the $30,000. To contact Revenue Canada, call (800) 959-5525. Employees vs subcontractors If you will hire anyone to work for you, you need to register for a payroll number (Revenue Canada) and WSIB WSIB Workplace Safety and Insurance Board WSIB Washington State Investment Board number. Many have tried to circumvent cir·cum·vent tr.v. cir·cum·vent·ed, cir·cum·vent·ing, cir·cum·vents 1. To surround (an enemy, for example); enclose or entrap. 2. To go around; bypass: circumvented the city. the payroll process, as there is a cost to the employer that can be significant, particularly for WSIB coverage. Income tax Whether under your own name or a registered name, the implications to you are the same. You would invoice An itemized statement or written account of goods sent to a purchaser or consignee by a vendor that indicates the quantity and price of each piece of merchandise shipped. A consular invoice is one used in foreign trade. your customer and keep records of all revenue and expenses for the year. At year-end, you would attach a statement of business affairs to your regular tax return and you would pay income tax on your net profit from your business at your personal tax rate. If you operate as an incorporated company, you would have to file a separate tax return for the corporation and would almost certainly have an accountant or other financial professional involved in that process. Municipal business licence There are certain categories of businesses that require a licence from the city in which you are operating. The best course of action is to contact the city clerk's office. For more information about business startup, contact your city's economic development department. EMPLOYEES VS. SUBCONTRACTORS Many have tried to circumvent the payroll process by considering those people working for the company to be subcontractors rather than employees. If you operate this way, and are audited and found to be in error, the interest and penalties can be extreme. 
Roger Dalton (Member): Most companies are abusing the system by classifying workers as Indepenndant contractors!! 1/18/2009 7:29 PM
Just look at all the job boards!! Its a shame..The workers are totally dictated as to how to do the job, time to come in or leave work, even using employers tools etc. But the shameless employers lie to them by saying you can write-off this n that...or even groceries!! (its not legal but the brainwash poor suckers and make them think its better to be independant contractor); when in fact the worker could write off most legitimate expenses even if he/she were an employee!!
Fact is you are screwed when fired as there is no severence pay, no right to collect E.I. etc. Employers who try to dodge their responsibilities this way MUST be dealt with severely. IS THE LABOUR BOARD SLEEPING?? |
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