Video instructions and help with filling out and completing How Form 944 Pr Deduction

Instructions and Help about How Form 944 Pr Deduction

Hello and welcome to the screencast my name is Kareem refet with help SME comm here we'll cover calculating Canadian payroll taxes with a help SME calculator to access it visit help SME comm go to free tools payroll Canadian payroll calculator once on this page you'll notice there's a download rate version available here on the right hand side that you can freely download and use if we scroll down a bit we can access the online version on the top under general information if we want the employer name to be printed out on the report we can enter it here we'll just say ABC Inc if we want the employee name on the report as well we can enter it here let's say John Doe and for our example we'll say John Doe resides in Ontario the government adjusts tax rates claim amounts and so on every six months they publish new data so under the tax table pick the month that corresponds to the pay date so the January 2021 selection here covers salaries from January to July 2021 so we'll leave it at January 2021 if you'd like to validate a social insurance number provided by the employee you can do that here just enter it in and click validate and here we choose how many payroll periods used per year in our case for this example let's say monthly under total claim amount we use the claim code for the employee the basic claim for residence is claim code 1 so we'll leave it at that if your employee is filled out the td1 form and requested a different claim code you just select it from the drop down list note that the claim code corresponds to the province selected so if you change the province the claim code numbers here are automatically updated so you don't have to worry about that under salary and benefits this is where you enter the pay information let's assume that for this pay period there is a salary and a bonus paid so we click on the salary and bonus tab and let's enter a salary of let's say 3000 for this month no cash benefits and no non-cash benefits for our example and under current bonus payable let's say $400 moving down here we enter any employee deductions that might be appropriate let's say for example that $80.00 was deducted from pave and it's for an RRSP so we enter the $80.00 there we can assume for example no other employee deductions and if there are any other taxable income deductions can enter them here this will change the amount of income tax the employee will pay down here under your to date for payroll deductions you can enter your data mounts already deducted for Canada or Quebec pension plan for AI employment insurance and this one's for Quebec Quebec parental insurance plan if the employee is exempt from any of these you would just check off the appropriate box and then we simply click here to view the report on the report you'll see the company name entered employee name province and so on then here are the employee deductions and salary so here are the earnings three thousand and four hundred in bonus for a total of thirty four hundred dollars and on the right hand side we see the tax deductions federal tax provincial tax CPP and the I as well as the breakdown for the bonus federal tax on the bonus provincial tax on the bonus CPP and II I for the total bonus deductions and the grand total deductions and here we have the net pay that you would pay the employee if we scroll down a bit you can see the federal and provincial tax summary all federal and provincial taxes to be paid by the employee that are deducted off pay total deductions the total for the Canada Pension Plan and then an di deductions that the employee contributes and here are the total deductions on income for the government if we scroll down a bit more we can see the employers contribution Canada Pension Plan same as the contribution from the employee makes and the EEI contribution it's a little bit more than what the employee contributes and here's the total employer contribution and here we have the total amount to remit to the Canada Revenue Agency 850 806 in our example and below this let's not forget the $80.00 in RSP contributions is deducted off pay has to be remitted to the appropriate entity and here we can print the report or just close the window this concludes our screencast thanks for tuning in.

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