Crystal Cahill is responsible for the social media and marketing of Cahill Professional Accountants. She is married to Cahill Pro partner Jordan Cahill, and together they have a three year old son and a daughter on the way. Crystal completed her Bachelor of Arts Degree at Simon Fraser University in English, and has an Education Degree and teaching certification. She enjoys keeping our clients updated on new accounting practices, upcoming tax deadlines, and news & events within the Cahill Pro office & staff.
Wishing all of our clients, friends and family a very Merry Christmas & Happy New Year. Thank you for your continued business and support- we wish you all the very best in 2020.
From the partners and team of Cahill CPA
Wishing all of our clients, friends and family a very Merry Christmas & Happy New Year. We thank you for your business & support, and wish you all the best in 2020.
From all of us here at Cahill CPA.
Our staff will be out of the office during the Holiday season. If you have any pressing questions or concerns before year end, please get in touch with us by Friday December 20th.
Below are our holiday hours:
Our office will be closed: December 24th- January 1st
We will be back in the office January 2nd.
Merry Christmas & Happy New Year to you and your family.
North Shore Reader's Choice Awards- Favourite Accountant
It's that time of year again- the North Shore Reader's Choice Awards voting is now open, and we are hoping you will choose Cahill Chartered Professional Accountants as favourite North Shore Accountant for the second year in a row!
Charitable Giving and Your Tax Return
For quick reference, we’ve put together this list of CRA links with helpful information & tips on claiming charitable credits. As always, let us know if you have any questions about your charitable giving & donations.
Claiming Chartiable Credits
- How to calculate, which documents you need
Calculate your Charitable Tax Credits
- Eligible amounts, important dates, tax savings
Frequently Asked Questions (FAQ)
Charity Giving Glossary
- A more basic alphabetized glossary of charitable giving related terms.
If you’re looking to donate to a local North Vancouver cause this holiday season- and before December 31st (for it to count on next year’s tax return), here is a helpful list of charities shared by Lonsdale Ave.ca. Always be sure to check that you are donating to a registered charity in order to claim it on your return, and make sure to ask for a tax receipt (CRA lists all registered charities and you can search your charity here)
CRA Checklist for Small Businesses
Did you know? CRA has a great online resource for small businesses- especially if you’re just starting out. They have provided helpful checklists & information to help you with the ins and outs of running a business in Canada. A few of the more popular topics that they provide information on include:
- Payroll deductions
- Business number registration
- Registering for GST/HST accounts
- Reporting business income & expenses
CRA also has excellent online resources about business structure (sole proprietorship, partnership or corporation?), useful e-services for businesses, self-employment information, and more. Visit their website for all these great tips, and more.
There is A LOT that goes into starting, and running, your own business- and that’s where we can help. Cahill CPA specializes in helping local businesses get started, guiding you as you grow, and helping you reach your goals & achieve success.
Call or email us today if you are thinking of starting your own business, or you are realizing it’s time to have some experienced professionals help you out. Your success is our business!
“This man tested Canada’s tax laws by moving in a canoe- and won”
CBC News recently posted an article about a Canadian man who moved by CANOE, when he was fed up with Canada’s tax laws! To read more about how he claimed his very unique moving expenses, we’ve linked the full article here:
https://www.cbc.ca/amp/1.5355436 by Stu Mills, CBC News.
Claiming Expenses on your Income Tax Return
One of the most frequent questions we get when meeting with clients, especially around tax time, is regarding what they can and cannot claim on their return. Canada’s tax laws are extensive on this topic, and can also change, so it’s important to have a professional accountant on your side to make sure you are making the most of your money.
Some frequently asked questions from new clients:
“Can I claim home improvements, if I do the majority of work from my home office?”
“Can I claim gas… insurance… car repairs… if I drive for work?
“Are there any expenses I’m missing out on as a University student?”
“I have a medical condition that impacts my grocery bill- can I claim the food I purchase that’s required for my specialized diet?”
While we often get specific questions FROM clients, our experienced accountants often find expenses that you could be claiming that you hadn’t realized on previous returns. That’s why hiring a professional CPA is so important- our job is to save you money! Accounting is what we do- and we have the experience and knowledge to help you and your business.
And if you ever want to move by canoe, or other unique mode of transportation, now you know you can claim it!
Starting a New Business
When you're starting a new business, it's crucial that you start off on the right foot! Being organized, prepared, and set up efficiently is paramount- before you even sell your first product, get that new client, or close the deal.
Having a professional accountant guide you every step of the way can help your business have a successful start, and provide support & advice you as your business grows. Our team at Cahill CPA specializes in small businesses & entrepreneurs, and we have clients in a wide range of industries. We can help set you up with online cloud accounting software, figure out tax rules that might impact your business, guide you in the best ways to manage inventory, help with payroll questions, explain deductions, complete year ends, and more. Getting you set up with CRA online, and helping you manage GST/HST, corporation income taxes, and payroll is also a great service that is provided by our staff.
Our team routinely attends professional development and stays up to date with all the latest changes in tax rules & credits. We make sure to be informed of all things tax related, so that you won't miss out on a new Canadian tax, payment, or credit you need to be aware of. As your business grows, our team also has extensive experience with year end financial statements, review engagements, and other important changes that come up as businesses expand.
We are the experts in all things accounting- and we will find the best ways to save your business money. We focus on your accounting, so you can focus on what YOU do best.
If you are starting a new business or need a professional accountant to support your growing business, contact us. We would be happy to set up a phone or in person meeting, to get to know you and your business needs.
Jordan Cahill's Interview with "Lonsdale Avenue"
We were recently featured in Lonsdaleave.ca- a local online source for businesses and events on Lonsdale Avenue in North Vancouver. Our partner Jordan Cahill was interviewed about how Cahill CPA got started, what brought us to the North Shore, what we do here, and more. We've included a portion of the interview below, and if you would like to read the full article, you can find it here.
Jordan was asked How did you get started with Cahill CPA and why did you choose North Vancouver?
Cahill CPA’s foundation is our family. My father Wayne Cahill has been an accountant for over 35 years, and so you can say it’s in our blood!
I went into accounting after completing a business degree at SFU, and I received my CPA designation while working at a firm downtown. My brother Taylor, Wayne and I decided to open an accounting firm together and soon merged with a North Vancouver firm where we partnered with another local accountant Janice Tai. We initially opened an office off Lonsdale on West 17th, but soon grew out of this space, and moved to our current location at West 15th.
Wayne and Taylor were living in North Vancouver, and we all fell in love with this natural paradise! Along with the vibrant and friendly community, and all it has to offer for young families, I moved here 3 years ago with my wife and our young son (and have since added our daughter!).
What can local business owners do to improve their accounting generally day to day?
One of our biggest tips, and simplest, is to stay organized. Using online cloud accounting software and learning the best way to set up your day to day bookkeeping is very beneficial. Our staff is trained to help you with that set up and any trouble shooting you may need. Also, make sure to keep receipts, records of transactions, invoices, etc so they’re available if needed (and try not to make this a grocery bag filled with crumpled papers!)
In addition, stay on top of your taxes and finances. It’s easier to solve an issue or problem when it comes up, instead of letting it build up and snowball into a greater (and often more expensive) problem. When you work with Cahill CPA, we are your accountant all year round. We are here whenever you need us, and we are always staying on top of deadlines and payments, finding ways to save you money, and making sure you avoid unnecessary taxes or penalties.
If you want to learn more about Cahill CPA- check it out! If you interested in staying up to date on what is happening in and around Lonsdale, visit their website to subscribe.
Thanks for reading, and have a great week!
Got enough things on your list of reminders?
Don't make your taxes one of those stressful "to do" list items- we've got you covered!
Sign up for our annual "Personal Tax Reminder" email- ONE email, with all the important dates, information, helpful checklists, and more. Just ONE helpful email, and you won't forget anything at tax time again. We send this out in the Spring, as the April tax deadline approaches.
Click on the "About tab" on our website, and go to "Personal Tax Time Reminder". Enter your name & e-mail address, click subscribe and check it off your to-do list!