Accounting Services, Vancouver

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  Sole Proprietorship, Partnership and Corporation You asked! We answered!  Our accountants have had many questions lately surrounding the topic of partnership or incorporating businesses. Many of our clients have been unsure what these structures are and what might be the best option for them. Understandable! It can be a confusing and even stressful thing to consider for your small business. Below we’ve highlighted some important information to consider, and a helpful resource from BDC. Talking to a professional accountant about the specifics of your business is always a great idea when making this type of decision.   BDC website: Choosing…
Canada Child Benefit (CCB) & Your Tax Return From the CRA website:  The Government of Canada recognizes that young families in particular have been impacted by the unpredictable expenses of the COVID-19 pandemic. This money will help pay for things such as short-term child care arrangements, healthy food, clothes, and activities they can do at home as a family. Families could receive up to $1,200 in support per child under the age of six in 2021. This will benefit about 1.6 million Canadian families and about 2.1 million children under the age of six. In 2021, families that are entitled…
  Important Income Tax Deadlines Feb 22, 2021: Earliest you can file online ***We began filing returns for our clients, and many of you have already connected with our team during this process.  Mar 1, 2021: Deadline to contribute to a RRSP, PRPP, or SPP   Apr 30, 2021: Deadline to file your taxes ***This deadline is not predicted to change (as it did last year) so please ensure you are in touch with our team as soon as possible, so you don’t incur any late filing penalties.    Jun 15, 2021: Deadline to file your taxes if you or…
Well isn't this exciting! Our very own Matthew Jacquet and Tony Elliott grace the pages of CPA BC magazine.  Recently Matthew and Tony were featured on the "Announcements & Accolades" page of the March/April issue.  Cahill Chartered Professional Accountants LLP in North Vancouver would like to announce that Tony Elliott, CPA, CA, and Matthew Jacquet, CPA, CGA, have been named to the firm's partnership. Tony joined the firm in 2018, specializing in assurance and tax. Matthew joined the firm in 2013, specializing in small business accounting You can read the full issue of In Focus here. CPA BC "In Focus" March/April,…
  Important Changes to your 2020 Tax Return There is a lot of confusion this year regarding your 2020 income tax return. With all the changes from CRA, all the talk, and all the news…. there’s no wonder! We are here to help. We will break down some of the changes in our online posts & through our blog, but as always, make sure to ask one of our experienced accountants if you have any questions!  One of the first major topics that we are hearing from clients- is the deadline extended? The answer is, no. This year CRA has…
  THANK YOU, THANK YOU! North Shore's FAVOURITE Accountant We are so thankful for all the support from our North Shore community! Cahill CPA is the leading accounting firm on the North Shore, providing exceptional service to all of our personal & corporate clients. Thank you for voting us your favourite accountant for the third year in a row! We recently added two new partners to our firm- Matthew Jacquet and Tony Elliott. Matthew has been with Cahill CPA since 2013, and Tony joined us in 2018. We are so happy to have these experienced, professional, and hardworking accountants join…

RRSP's and TFSA's

February 5, 2021
  RRSP's and TFSA's We get a lot of questions year round on RRSP’s and TFSA’s- and often our clients aren’t quite sure the difference between the two. Understandable!  We recently came across this article posted by CPA BC, and it breaks it down quite simply: Know the difference between a RRSP and a TFSA The RRSP is a government-registered retirement savings plan that you open at a financial institution such as a bank or wealth management firm, and to which you and your spouse/common-law partner can make contributions. RRSP contributions can be used as deductions to reduce your tax…
  Why Realtors Need a Professional Accountant Real Estate is a HOT topic right now! If you are a realtor here locally, you probably know what we are talking about!  Cahill CPA specializes in realtors & real estate- we are experts in questions regarding: important tax credits & deductions write offs and business expenses whether to buy or lease your vehicle whether to buy in your company or personally GST  commission rebates rental properties & short term rentals setting up a personal real estate corporation (PREC) and more.  We have a lot of clients that are realtors, and many are…

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