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Koroll & Company Blog

How Accounting Audits Safeguard Your Business Against Fraud

[fa icon="calendar'] Feb 28, 2024 10:51:58 AM / by Koroll & Company posted in Corporate

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Fraud, a persistent concern in the business world, can wreak havoc on finances, reputation, and trust. But with vigilant auditing practices, businesses can detect, deter, and prevent fraudulent activities. 

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Reshaping Education Finance: Understanding Adjustments in RESP

[fa icon="calendar'] Feb 20, 2024 12:46:33 PM / by Koroll & Company posted in Tax Tips

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The cost of higher education has become a financial juggling act for many. You've got tuition, books, living expenses - the list goes on. 

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Outsourcing Bookkeeping Vs. In-House Bookkeeping: What’s Best?

[fa icon="calendar'] Feb 14, 2024 8:05:50 AM / by Koroll & Company posted in Small Business

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Entrepreneurs face a multitude of challenges every day. One critical decision that often arises is how to handle bookkeeping efficiently and effectively. 

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The Importance of Succession Planning: Securing Your Business's Future

[fa icon="calendar'] Feb 8, 2024 1:41:31 PM / by Koroll & Company posted in Small Business

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It’s the dream of nearly every business owner to pass down their legacy through generations, envisioning a future where the business they built with sweat, tears, and determination thrives long after they are gone. 

But while 88% of current family business owners believe their business will remain in the family, the harsh reality paints a different picture.

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Helpful Tips to Keep Your Records and Bookkeeping in Order

[fa icon="calendar'] Feb 2, 2024 12:38:12 PM / by Koroll & Company posted in Small Business

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Managing records and bookkeeping is essential for any business, regardless of its size. Keeping your financial records organized not only ensures compliance with regulations but also provides valuable insights into your business's financial health. 

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Tax Breaks You Should be Aware of For Post-Secondary Students

[fa icon="calendar'] Jan 22, 2024 2:31:37 PM / by Koroll & Company posted in Tax Deductions, Tax Tips

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As we step into the new post-secondary school winter semester, it's important to review the financial aspects of education. 

Despite the shifting landscape of learning over the past few years due to the pandemic, the costs associated with post-secondary education remain a constant challenge. Tuition bills, housing expenses, and meal plans continue to be significant financial burdens for students and their families. 

Fortunately, there are tax credits and benefits available to help alleviate some of these costs.

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Understanding the Upcoming Changes to CPP

[fa icon="calendar'] Jan 19, 2024 2:54:43 PM / by Koroll & Company posted in RRSP, Tax Tips

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In Canada, we have two public retirement income programs – Old Age Security (OAS) and the Canada Pension Plan (CPP). While you’re still allowed to accumulate your own savings in registered pension plans or registered retirement savings plans, these two programs ensure that all Canadians get a basic level of income when they retire. 

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Choosing the Right Accounting Software for Your Self-Employed Business

[fa icon="calendar'] Jan 9, 2024 2:42:31 PM / by Koroll & Company posted in Small Business

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As a self-employed business owner, keeping track of your finances is crucial for the success and growth of your business. But managing your finances can be a daunting task, especially if you're not familiar with accounting practices. 

Fortunately, with the right accounting software, you can streamline your financial management and focus on what you do best – running your business.

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