If 2023 was the year to celebrate our 50th anniversary as a firm here at KRP LLP, 2024 is about looking to new growth and development as we continue to deliver industry-leading service to our clients. It starts by celebrating two very significant promotions. We’re very proud to welcome long-time manager Vincy Vuong to the KRP […]
There are relatively few businesses that have the pleasure of celebrating a 10-year anniversary, let alone 50. We’re very proud to join that latter club as KRP LLP marks a half-century providing accounting, assurance, tax and consulting services to entrepreneurs across all industries. We’re also very excited to announce our upcoming move to a new […]
As devastating as the global pandemic has been, it did create a new way of thinking for businesses large and small. Remote work became common, Zoom calls the norm and businesses of all sizes shifted their workflow, both to accommodate lockdown restrictions and the evolving work preferences of their employees. At the same time, a […]
EMPLOYEE STOCK OPTIONS Many readers are likely aware how these employee stock options work. In general terms, if you are an employee and are granted a stock option from your employer corporation, you have the right (but not an obligation) to exercise the option and acquire shares in your employer’s corporation at an “exercise […]
In the wake of its doubling on July 1st, 2022, the Canada Revenue Agency’s prescribed rate will increase to 3 per cent on October 1st of this year. The rate, which sets interest rates for everything from tax refunds to outstanding tax debts, is currently set at 2 per cent. The prescribed interest rate is determined […]
FEDERAL BUDGET HIGHLIGHTS On April 7, 2022, the Federal government released its annual budget (they missed 2021 because of the pandemic), which included various income tax measures. Below is a summary of some of the more significant measures. As is often the case, there was no detailed draft legislation (technically a “Notice of Ways and Means […]
RRSP VS. TFSA – WHICH IS BETTER? This is a question that comes up regularly in financial planning and tax planning circles. But before we attempt to answer the question, we need to know the difference in the tax treatment between these plans. Although some commentators call the first 60 days of the year the […]
SHOULD YOU FILE YOUR INCOME TAX RETURN IF YOU CAN’T PAY? Suppose you are (or your corporation is) ready to file your income tax return, or a GST/HST return, by the filing deadline (which might be, say, April 30 or June 15). But you don’t have enough money to pay the balance. Should you file anyway? We […]
Every year we have the opportunity to welcome new team members to the KRP LLP family. And every year we’re reminded of the wealth of talent across Canada’s accounting industry—not to mention the passion and commitment to service excellence that these young professionals bring to our firm and our sector. Their dedication is truly inspiring. […]
In the old days (e.g., prior to the coronavirus pandemic), many organizations dedicated a less-than-optimal percentage of their HR resources to employee retention. Why bother working to retain staff when new employees were lining up for their positions? Even then, top employers understood that it not only makes more financial sense to retain and engage […]
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