Koroll & Company Blog

For small business owners, financial forecasting isn’t just about crunching numbers—it’s a powerful tool that can help you navigate the future with confidence. By predicting revenues, expenses, and cash flow, forecasting provides insights to guide decisions, manage risks, and plan strategically.

In this blog, we look at four common types of financial forecasting and explore how they can support your business’s growth and stability.

If you’re turning 65 soon, and planning to continue working, you might be wondering how much income you can earn before your Old Age Security (OAS) pension is reduced. This reduction, often referred to as the "OAS clawback," is something many Canadians face when their income exceeds certain thresholds. Here's a closer look at how the clawback works and what you can do about it.

In Part 1, we discussed why business valuation is important and what information is needed to get started. Now, let’s explore the methods used to value a business in Canada and the common mistakes that business owners often make during the process.

When it’s time to sell or transfer ownership of your business, one of the most important steps is to get a clear valuation. A proper valuation not only helps set a fair purchase or selling price, but it also informs your broader business strategy and tax planning. Understanding the value of your business is crucial to securing the best possible outcome in a sale or transfer.

Starting a business in Canada involves understanding various regulations, one of which is collecting sales tax. Whether you’re selling products or services, knowing when and how to collect sales taxes is crucial for compliance. Here's what you need to know about sales tax as a startup in Canada.

The Tax-Free Savings Account (TFSA) is a powerful financial tool available to Canadians, offering tax advantages to help you save for the future. Introduced in 2009, the TFSA allows individuals who are 18 years of age or older, and have a valid Social Insurance Number (SIN), to set aside money without worrying about taxes on the income earned in the account.

Running a small business in Canada involves juggling many responsibilities, and amid the daily demands of buying supplies, selling goods, fulfilling customer orders, and growing your business, certain tasks can easily slip through the cracks. One such task, often overlooked by business owners, is maintaining an up-to-date corporate minute book.

The fall can be an ideal time to sell your home in Canada. During this season, you often encounter serious buyers who are motivated to finalize their purchase before winter sets in, and you’ll benefit from a less crowded market compared to the busy spring season. Whether you’re selling now or later, you can take advantage of the principal residence exemption, which can significantly impact your financial outcome.