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Koroll & Company Blog

Exploring Options for Canadian Businesses When Debt Becomes a Problem

[fa icon="calendar'] Oct 2, 2023 8:45:00 AM / by Koroll & Company posted in Corporate

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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.

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The Importance of Credit Scores for Ontario Businesses

[fa icon="calendar'] Sep 15, 2023 9:15:00 AM / by Koroll & Company posted in Corporate

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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. 

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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

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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.

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Minimum Wage Rates and Overtime Rules For Employers in Ontario

[fa icon="calendar'] May 15, 2023 4:33:42 PM / by Koroll & Company posted in Corporate

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As an employer in Ontario, it's important to understand your obligations when it comes to minimum wage and overtime pay for your employees. 

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

[fa icon="calendar'] May 1, 2023 3:04:00 PM / by Koroll & Company posted in Corporate

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Buying or selling a company car can be a daunting task, with many legal and financial considerations to take into account. In fact, it’s a complicated process for many business owners - especially when it comes to HST on vehicles, which can result in missed opportunities or non-compliance. 

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Compensation Planning for Incorporated Business Owners

[fa icon="calendar'] Apr 17, 2023 10:49:00 AM / by Koroll & Company posted in Corporate

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As a business owner of a corporation, you can receive income in one of two ways - salary or dividends. This decision can be a complex one but taking the time to make it will maximize your after tax position.

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What You Need to Know About The Small Business Deduction

[fa icon="calendar'] Apr 3, 2023 9:43:00 AM / by Koroll & Company posted in Tax Deductions, Corporate

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Canadian corporate taxation can be complicated. Many business owners of incorporated businesses are unaware that their tax rate is 38%. That’s because there are multiple deductions that come into play before corporate business income is taxed. 

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How to File Taxes for a Small Business in Canada

[fa icon="calendar'] Mar 20, 2023 2:27:00 PM / by Koroll & Company posted in Corporate

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If you own a small business in Canada then you must file taxes each year. This includes business owners with brick-and-mortar locations, as well as people who sell products online only. It also includes freelancers, consultants, ride-share drivers and contract writers, as well as individuals who sell products at markets and fairs. 

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