Hello,
I am currently a tile setter and am thinking of going out on my own. I currently have a company fully registered and my own wsib account but have mainly been working for two large commercial companies.
Can WSIB be added onto my invoices as a seperate line item, or have to be built into the cost of my jobs, whether I decide to do that on a hourly rate or square ft.
Thank you
Hi,
It would be part of your overhead, but not a job cost.
Mike
I just include it as a part of daily living. It is an expense, such as advertising, fuel, tools, etc. so I just estimate with one rate ... what my services are worth. In some cases I would also show material cost as well as labour but don't start itemizing everything, it gets too confusing and isn't necerssary.
I wouldn't specifically have a line item for it. You should include it in your general overhead which can cover the following (insurance, licenses, utilites for an office, compueter, phone, etc.).
So yes, your total price should include your WSIB cost but not as a specific line item.
Thank you everyone for the information. It was very helpful.
Good morning Drew,
I do treat this as a job cost as it is part of your labour burden to complete the project. WSIB, payroll taxes, EHT, etc are all part of labour. So you need to charge the customer as part of your mark up but no need to show it as a separate line item.
A great place to get started ...do some reading of this book which you can find at your local library. Although an American publication it will set you in the right direction.
http://www.markupandprofit.com/products/markup-profit-revisited
Good Luck.
Dave
360renos
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