Koroll & Company Blog

Since the 2024 federal budget announcement and the increase in the capital gains inclusion rate became effective June 25, 2024, the increased tax rate has garnered significant public attention. 

If this impacted you, you must know what capital gains are and how the new federal budget impacts individuals and business owners moving forward.

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. 

In a move to support small businesses and not-for-profit organizations, the Canadian government has extended the deadlines for the Canada Emergency Business Account (CEBA) loan repayments. 

In Canada, a significant portion of the workforce operates on a commissioned basis, where their earnings are based on sales or other performance-related metrics. 

Running a business can be a rewarding endeavor, but it also comes with its fair share of challenges. Among these challenges, managing debt is a common hurdle faced by Canadian businesses. 

Managing business debt can be a challenging task for Canadian business owners. Whether it's due to unexpected financial hurdles or poor financial management, accumulating debt can hinder the growth and stability of your company.

If you’ve ever had to finance a car, get a mortgage, apply for a credit card or take out any other form of personal loan, chances are you’ve learned the importance of a good credit score. 

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.