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Working from Home?

July 23, 2020
Working from Home? Working from home? You might be eligible for deductions on next year's tax return. Many CPA's are trying to determine what CRA will do with the "home workspace deduction" and whether more Canadians will be eligible, even if they don't meet the 50% working from home requirement. This is a great time for our clients to save any receipts from items they purchase for working from home- as well as ensure there is documentation from your employer on your terms of working from home. For more information on what you can claim- see the below link from…
Important Benefit & Credit Payment Dates Wondering if you missed an important benefit or credit from CRA? It’s always important to check your account regularly, and keep track of benefits as they can sometimes be missed by CRA.  Canada Child Benefit (CCB) typically is paid on the 20th of each month. If you do not receive it within 5 business days, you should contact CRA. GST/HST Tax Credit is paid 4 times a year, and the dates are as follows:  January 3, 2020 April 3, 2020 July 3, 2020 October 5, 2020 *Note- due to COVID-19, there was a one-time…
Digital News Subscription Tax Credit Do you subscribe to a digital news subscription? If so, you could be eligible for a tax credit! In 2019, CRA rolled out a “digital news subscription tax credit” which, according to the CRA website, is: a non-refundable tax credit for amounts paid by individuals to a qualified Canadian journalism organization (QCJO) for qualifying subscription expenses after 2019 and before 2025. This digital news tax credit is applicable for up to $500 worth of subscription fees for digital news outlets. While you can only use it to save up to $75, it’s still worth applying…
CESB, CERB, and....more   CRA recently created an easy questionare to determine if you are eligible for financial support... see link here. https://covid-benefits.alpha.canada.ca/en/start  This an easy survey, 10 questions in total, and only takes 1-2 minutes. It will then list any benefits you "may" be eligible (and also lists which ones you are NOT eligible for as well).  For information on the Canada Emergency Student Benefit- CESB- see link here. https://www.canada.ca/en/revenue-agency/services/benefits/emergency-student-benefit.html For an ongoing list of changes to taxes & benefits due to Covid 19, see link here. https://www.canada.ca/en/revenue-agency/campaigns/covid-19-update.html  

Back in the Office

June 28, 2020
  Back in the Office  Business is slowly getting back to normal here at Cahill CPA, and we've complied with all the necessary safety requirements to gradually return to the office. Our staff are working both from home & in the office, and our administrative staff are all in office to help with any client needs. We ask that you call our office before coming in, to minimize the amount of people in the space at one time. We have added plastic safety guards at the front desk, as well as sanitizer at every desk & touch point. Our staff…

Back in the Office

June 26, 2020
Back in the Office  Business is slowly getting back to normal here at Cahill CPA, and we've complied with all the necessary safety requirements to gradually return to the office. Our staff are working both from home & in the office, and our administrative staff are all in office to help with any client needs. We ask that you call our office before coming in, to minimize the amount of people in the space at one time. We have added plastic safety guards at the front desk, as well as sanitizer at every desk & touch point. Our staff are…

Thank you!

April 30, 2020
Thank you! Today would typically mark the END of tax time (don't worry- you're not late!) and our team would be out tonight celebrating together! We always have an "end of tax time" party on April 30th, where our whole team gets together for dinner and a night out. It's always much deserved & hard earned, as tax time is our busiest time of year. Our team works late into the evening & weekends for most of March & April.  This year, with the tax time extended to June 1st, today is kind of like any other busy day during…
  Supporting BC Businesses We wanted to take a quick moment to reach out to all businesses, entrepreneurs & self-employed individuals.  We ourselves are a local, family-run business, and we know the toll this has taken on businesses around the North Shore. We are here to support all of our clients, and are having many conversations about how they can succeed during these very uncertain times.  A survey was done last week of over 1,200 business leaders in BC, asking a variety of questions regarding the state of their business & their outlook for the coming months.  43% surveyed said…

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