Tax planning is a crucial aspect of running a successful small business in Canada. By employing strategic tax planning techniques, small business owners can optimize their tax liabilities, reduce financial burdens, and ultimately improve their bottom line.
Allen Koroll

Recent Posts
Tax Planning Strategies for Canadian Small Business Owners
[fa icon="calendar'] Mar 21, 2025 1:43:49 PM / by Allen Koroll posted in Small Business, Tax Tips
The Importance Of Getting Your Minute Book In Order
[fa icon="calendar'] Aug 25, 2023 10:20:00 AM / by Allen Koroll posted in Education, Corporate, Small Business
When you get into the ebb and flow of the day to day - buying supplies, selling goods and services, fulfilling customer orders, getting more business – there are a lot of things that fall by the wayside. And staying up to date with company records is one of them for many business owners.
If you own a corporation in Canada, one record you are required to keep is an up to date company minute book. Which is something that some business owners aren’t aware of.
TFSAs in 2022: What You Need To Know
[fa icon="calendar'] Mar 16, 2022 9:00:00 AM / by Allen Koroll posted in Tax Tips
Tax Free Savings Accounts (TFSAs), which were introduced in Canada in 2009, are savings tools that can be used to optimize your yearly tax planning. Each year, the federal government announces an annual contribution limit, which is added to your limits from previous years.
Helping Your Ontario Employees Claim Home Office Expenses For 2021
[fa icon="calendar'] Mar 14, 2022 9:51:31 AM / by Allen Koroll posted in CRA, Tax Tips
Employees who work from their homes have always been able to claim home office expenses. To do this, the employee had to meet specific criteria, retain receipts, calculate the portion of expenses that were related to work and get certification from their employer.
What are the EI And CPP Rates And Maximums for 2022?
[fa icon="calendar'] Mar 10, 2022 11:56:09 AM / by Allen Koroll posted in Corporate, CRA
Every year, the government announces the current rates for Employment Insurance (EI) and Canada Pension Plan (CPP) for both employees and employers. Below are the 2022 rates and maximums.
Deadlines And Penalties For 2021 Ontario Income Tax Returns
[fa icon="calendar'] Mar 8, 2022 4:07:09 PM / by Allen Koroll posted in Corporate, Tax Tips
As with every new year, 2022 has its own set of payment and filing deadlines that every taxpayer needs to know about.
To help you out, in this blog we’ve listed the most significant dates and information that you will want to make note of. If you need further tax return help, please do contact one of our chartered professional accountants today!
What are the 2022 Tax Rates, Brackets and Credit Limits in Ontario?
[fa icon="calendar'] Feb 24, 2022 8:00:00 AM / by Allen Koroll posted in Tax Tips
Now that the new year has come, it is time to start planning for the tax year ahead. That means you need to be aware of the applicable tax brackets, credit rates, contributions and premiums that will apply to you and your specific situation in Ontario in 2022.
Ontario Taxes: The RRSP Contribution Deadline Is Approaching
[fa icon="calendar'] Feb 22, 2022 4:53:23 PM / by Allen Koroll posted in RRSP
Registered Retirement Savings Plans (RRSPs) let you contribute to your savings while benefiting from tax deferral.
This is because any contributions you make to your RRSP are deducted from your taxable income in the year that they are made. Any amount withdrawn at a future date, including interest income earned on investments, will be taxed at that year’s applicable rate.