Koroll & Company Blog

Your Guide to Canadian Tax Benefits in 2023-2024

Moving Expenses Deduction: Don't Miss Out on Tax Savings

How to Navigate the OAS Clawback and Secure a Retirement Income

How to Navigate Probate Tax In Ontario and Minimize Estate Tax

What are the 2023 Updates to Taxable Benefits Policies in Canada?

Understanding Employee Expenses in Canada For Commissioned Employees

Strategic Tax Planning: Proactive Approaches for Small Business Owners

Tackling Business Debt in Canada: The Role of Accounting Professionals

Exploring Options for Canadian Businesses When Debt Becomes a Problem

Canada Has A New Tax On Luxury Cars, Aircraft and Vessels

The Government’s Proposed Changes To The Principal Residence Exemption

10 Tax Write Offs for Small Businesses in Canada

The Importance of Credit Scores for Ontario Businesses

Understanding Foreign Source Income: What Taxpayers Need to Know

Estate Planning for Your Digital Assets: Securing Your Online Life

The Importance Of Getting Your Minute Book In Order

Minimum Wage Rates and Overtime Rules For Employers in Ontario

Understanding Canada’s New Underused Housing Tax

Home Office Expense: What You Need to Know to File Your Tax Return

Buying or Selling a Company Car? Here’s What You Need to Know

What's New on Your 2022 Income Tax Return?

What Does the Ontario Public Sector Strike Mean For Your Taxes?

Compensation Planning for Incorporated Business Owners

Should You Loan Yourself Money From Your Corporation?

What You Need to Know About The Small Business Deduction

Claiming Union and Professional Dues on Your Tax Return

How to Report CERB Repayments on Your 2022 Income Tax Return

How to File Taxes for a Small Business in Canada

Corporate Transparency Registry 2023

Details Released for the New First Home Savings Account

What is the Multi Generational Home Renovation Tax Credit?

Answering Your Common Questions About The Tax Free FHSA

Should You Keep Contributing to CPP?

Make a Note of These Important Tax Deadlines in 2023

The RRSP Deadline for the 2022 Tax Year is Fast Approaching

What Payroll Source Deductions are Employers Required to Remit?

What is the Small Business Tax Rate in Canada?

What is a Bad Debt Expense, and How Do You Record it in Your Accounts?

How to Use Home Equity To Create Cash Flow

Getting a Handle on Source Deductions With the Start of the New Year

Year End Tax Planning: RRSP, RRIF, TFSA

What is Profit Sharing?

What You Need to Know About Pandemic Benefit Overpayments

4 Things to Keep in Mind for Your 2022 Mid-Year Tax Review

Bookkeeper Vs Accountant – Do I Need Both?

Claiming Motor Vehicle Expenses For Businesses

Federal Budget Highlights: Personal Tax Changes

New Mandatory Transaction Reporting Requirements

Self-Employed Taxes: What You Need to Know About Convention Expenses

What Is Immediate Expensing?

Highlights From the Canadian 2022 Federal Budget

What Is The Tax-Free First Home Savings Account?

What is the Small Business Air Quality Improvement Tax Credit?

Financial Statements: Understanding Your Company’s Balance Sheet

How To File Your Ontario Annual Return With The New Business Registry

The Climate Action Incentive Payment Has Changed: What it Means

Understanding Income Statements: What You Need to Know

What You Should Include in a Professional Invoice

TFSAs in 2022: What You Need To Know

Helping Your Ontario Employees Claim Home Office Expenses For 2021

What are the EI And CPP Rates And Maximums for 2022?

Deadlines And Penalties For 2021 Ontario Income Tax Returns

What are the 2022 Tax Rates, Brackets and Credit Limits in Ontario?

Ontario Taxes: The RRSP Contribution Deadline Is Approaching

Compilation Engagement, Reviewed or Audited Financials: Which One?

What are the New Estate Planning Laws In Ontario?

What is the new Tourism and Hospitality Recovery Program?

What the New Compilation Engagement Standard Means for Your Business

Glossary Of Accounting Terms That Every Business Owner Needs To Know

Is it Time to Make Strategic TFSA Withdrawal Before the End of December?

What You Need To Know About Income Splitting

New COVID-19 Support Programs and Extensions

What is the Ontario Interactive Digital Media Tax Credit (OIDMTC)?

It’s Not Too Late to be Reimbursed for Employee Sick Days

4 Important Tax Rules for Holiday Parties And Gift Giving In 2021

Don’t Wait to File! COVID Benefit Programs are Coming to an End

Get Access to Your Business on the Ontario Business Registry

What Is The Difference Between CEWS and CRHP?

Should You Incorporate Your Business?

Which Sales Tax Do I Charge When Selling Out of Province?

How To Access EI If You’re Self Employed

What is the EI Premium Reduction Program For Canadian Businesses?

Bill C-208 Provides Tax Relief For Intergenerational Transfers

COVID-19 Relief Extended for Canadian Businesses

Tax Help To Offset The Cost Of Post-Secondary Education in Ontario

On the Move? How to Deduct Moving Expenses From Your 2021 Tax Return

Looking to Buy a New Home? Mortgage Stress Test Rates Have Increased

Is it Time to Collect Your Old Age Security Benefits?

What are the Child Care Expense Deductions For 2021?

It’s Time To Assess Your 2021 Tax Position

What is the New Ontario COVID Sick Day Program?

Are Self-Employed Individuals Entitled to Get CERB Repayments Back?

How to Pay Your Employees for Long Weekends and Other Holidays

What are the Incentives For Hiring an Apprentice in Ontario?

3 Ways To Calculate Your 2021 Tax Instalments

Your Complete Guide to the 2021 Payroll Deduction Updates

Government Announces New COVID-19 Support For Canadian Businesses

Selling Your Business: What Is The Lifetime Capital Gains Exemption?

Eligibility for the Disability Tax Credit Could be Changing

The Taxation Of Different Pandemic Benefits

2020 Tax Savings: Pension Income Splitting

GST/HST Refunds For Businesses And Why You’re Being Audited

Why Do I Need A NETFILE Access Code?

Do I Have To File An Income Tax Return?

Understanding The Canadian Income Tax & Benefit Return And Schedules

What Income Do I have To Report On My Tax Return?

Why Residency Matters When Filing Your Tax Return

Koroll & Company Welcomes New Partner, Michael Falcone, CPA, CGA, LPA

Some Ineligible Self-Employed CERB Recipients Won’t be Forced to Repay

The Tax Consequences Of CERB: It’s Time To Prepare!

Canada Announces Largely Unchanged Auto Expenses for the 2021 Tax Year

Did You Work From Home This Year? Check Out The Modified Home Office Deduction For 2020

Did You Need To Confirm Your CERB Eligibility?

It’s Time to Make Your Last Minute RRSP Contributions

New Rules For Employee Stock Options in 2021

Your Eligible TFSA Contribution Room 2021

NEW Seniors’ Home Safety Tax Credit Available in 2021

20 Year-End Tax Planning Tips For Employees And Individuals

When’s The Best Time To Make A Holiday Donation?

What You Need To Know About Giving Your Employees A Gift This Holiday

Plan Your TFSA Withdrawals Strategically For Year-End

Understanding The Home Buyer Plan

Canada United Provides Grants of up to $5,000 to Small Business Impacted by Covid-19

Year-end Planning For Your RRSP

New Trust Reporting Requirements Are Coming In 2021

How To Calculate Income Tax Installments

2020 Tax Planning For College And University Students

Receiving Fake Messages from the CRA? Avoiding Scams In 2020

Pay Your Tax Bill By September 30 To Avoid Penalties

Are You Protecting Yourself Adequately From Online Fraud?

5 Steps To Make Tax Season Easier For Small Business Owners

Tax Considerations For CERB

Understanding The Employer Health Tax In 2020

What To Do When The CRA Reviews Your 2019 Tax Return

Midyear Tax Checkup

Are You Aware of These Changes to Mortgage Lending Rules?

Understanding CPP Contributions and Benefit Payments

7 Reasons To Keep Your Business Books In Order

Tax Savings When Selling A House In 2020

What Happens After You File A Tax Return?

How Changes To 2020 RRIF Withdrawals are Helping Canadians

The 2020 Tax Filing Deadline Is Fast Approaching

Ontario Introduces a Rent Reduction Program to Assist Small Businesses

Should I Wait to Start Collecting Old Age Security?

Financial Relief for Businesses During COVID

Common Non-Refundable Tax Credits for Ontario-Based Seniors

CRA Deferral Information for Businesses during COVID-19

The Canada Emergency Wage Subsidy Program for Employers

Attendance Policies and Entitlements for Ontario Business During COVID-19

Tax Brackets and Non-Refundable Tax Credits: What Individuals Need to Know for 2020

Everything You Need to Know About RRSPs As A Tax Planning Tool

How to Optimize Your 2019 Tax Return by Maximizing Existing Credits

How to Take Advantage of New Tax Credits in Ontario This Tax Season

6 Common Non-Refundable Tax Credits for Canadian Taxpayers

What are the 2020 Tax Deadlines and Penalties for Canadians?

What are the Changes to the 2020 Employment Insurance and Canada Pension Plan Rates?

RRSP and TFSA Tax Deadlines and Limits for the 2019 and 2020 Tax Years

Planning for Your Ontario Retirement – What to Withdraw and When

How to Optimize Tax Savings for Self-Employed Individuals

Vital RRSP Information if You Turned 71 in 2019

How to Maximize Your Medical Expense Tax Credit in Ontario

How to Maximize Your Donation Tax Credit

What Is a TD1 Form and When Should It Be Filled Out?

Don’t Forget to Claim Your Union or Professional Association Dues

Snowbirds - Is Your Power of Attorney Valid When You Travel?

Splitting Child Tax Credits, Deductions and Benefits When You Share Custody

Can I Give Tax-Free Gifts To My Company’s Employees This Christmas?

Looking to Host a Company Party This Festive Season? Here Are Some Tax Considerations

Understanding the Ontario Trillium Benefit

How to Claim the Principal Residence Exemption When Selling Your Home

Are You Mismanaging Your Shareholder Loans? It Could Cost You

Post Assessment: What to Do When the CRA Requests Supporting Tax Documentation

My Business is Being Audited: How Does the Process Work?

4 Common Legal Mistakes Made by Small Businesses: Legal Mistake #4 Not Registering Intellectual Property Rights

4 Common Legal Mistakes Made by Small Businesses: Legal Mistake #3 Inadequate Employment Agreements

4 Common Legal Mistakes Made by Small Businesses: Legal Mistake #2 Not Receiving Key Agreements in Writing

4 Common Legal Mistakes Made by Small Businesses: Mistake #1 Choosing the Wrong Structure

Are Damages Awarded to Employees Taxable?

The Tax Obligations of Owning a Home in the United States

Travelling Across the Border? Avoid Being Deemed a US Resident for Tax Purposes

How to Protect Your Data During Online Transactions

Financial Support for Families Raising a Child With a Disability

Made an Error on Your Filed Tax Return? Here’s How to Correct it

When to Start Collecting Your Old Age Security Benefit

How Do I Complete an Income Tax Return for My Partnership?

2019 Federal Budget Commentary: Personal – Working Individuals

2019 Federal Budget Commentary: Sales and Excise Tax Measures

2019 Federal Budget Commentary: Personal Income Tax – Housing

2019 Federal Budget Commentary: Tax Changes for the Individual Canadian

2019 Federal Budget Commentary: Business Income Tax

2019 Federal Budget Commentary: What You Can Expect to Find in the 2019 Budget

5 Important Life Events That Should Trigger a Review of Your Will

Why Small Business Owners Should Seek the Advice of an Accountant, Especially in Tax Season

Tax Changes Affecting Your Company's 2018 and 2019 Tax Returns

CRA Resources to Help Your Business Deal With the CRA

Planning Ahead: Everything You Need to Know for the 2019 Tax Season

Non-Refundable vs. Refundable Tax Credits: What’s the Difference?

Tax Treatment of Registered Retirement Savings Plans vs. Registered Pension Plans

An Often-Missed Tax Opportunity for Seniors – Pension Income Splitting

Where to Put Your Retirement Savings: Choosing Between a TFSA and RRSP

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