The salary expense will include the employer portion of CPP and EI. The employee portion has already been deducted from their pay, as has the amount for income tax.
If you had an employee and paid them $10,000 for the year, you would have deducted from that $10,000 amounts for CPP and EI and income tax. These amounts are already reflected in the $10,000. So it is only the employer portion for CPP and EI that you would add to the $10,000.
ayolawal1
New Member
sevbatz101
Returning Member
shavna
New Member
ahsanhaseeb-live
New Member
isabelleallain4
Returning Member
You have clicked a link to a site outside of the TurboTax Community. By clicking "Continue", you will leave the Community and be taken to that site instead.