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Umber
February 11, 2021
Question

is anybody here familiar with quebec taxes and health insurance premiums?

  • February 11, 2021
  • 1 reply
  • 0 views

we recently started a health insurance plan for our employees but from my understanding the benefit is taxable provincially and not federally. we need to remit source deductions on it but then that makes the pay different for quebec? im not sure how to record this? anyone have any insight?

1 reply

J
JamesM4
February 11, 2021

Hello Umber,

 

Taxes are an essential part for many businesses. I'd be happy to steer you in the right direction with recording your transactions so you can get back to doing what you enjoy. QuickBooks is a user-friendly program which helps you complete your work faster saving you tonnes of time. 

 

To ensure accuracy in your books, I recommend contacting an accounting professional to get expert advice on recording the transactions. Doing this will help prevent any future discrepancies in your books. If you're not in contact with one, I encourage you to search for one on our website using this link here. In the meantime, check out this article which shows you: How to Deduct Source Deductions.

 

In case you have other questions, don't hesitate to reach back to me in the comments below. I've got your back. 

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