Accounting Services, Vancouver
Crystal Cahill

Crystal Cahill

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.

Thursday, 09 February 2017 14:39

CPA Firm Directory & Frequently Asked Questions

 

Our firm was recently added to the Canada CPA Firm Directory. You can access the information here:

CPA Firm Listing- Cahill Professional Accountants

 

With this listing you can find more information about some of the Vancouver industry sectors we handle, the services we offer, and the variety of languages spoken by our staff. Along with these services, below are some questions we have been asked lately about what we do here at Cahill Pro!

 

Frequently asked questions:

Q:I have a new, small business. Do you assist very small businesses just starting out?

A: Yes! We can provide bookkeeping services, as well as provide advice about what small business owners can claim at tax time.

 

Q: I oversee a non-profit charity organization in North Vancouver, and we are looking for some information for this upcoming tax deadline. Do you assist charities?

A: Yes! We have clients that are involved with not-for-profit and charitable organizations, and would be happy to assist you.

 

Q: I recently had a close relative pass away, and I am now in charge of their estate. Do you provide help with estates & trusts?

A: Yes! We can certainly provide advice and assistance with the dealing of estates, trusts and tax planning.

 

To our small business clients: do you understand the IT risks that face Canadian small businesses? CPA Canada provides a great resource- free of charge- for small businesses who may need help preventing and preparing against technology-related risks. It gives some great practical strategies to improve your IT security and safeguard important online data. This is an excellent reminder to small business owners of the issues & risks that can arise related to technology, and provides recommendations for prevention and trouble-shooting.

 

You can download the PDF from the CPA website here.

 

Some of the great tips in this resource include:

  1. Having a business continuity plan

  2. Needing effective management of IT vendors

  3. Actively managing the security of data

  4. Updating anti-virus & anti-malware

  5. Controlling Access

  6. Considering & Preventing cyber threats

  7. Creating IT Risk Mitigation strategies

 

Source: CPA Canada Wesbite

www.CPACanada.ca

 

 

 

 

Thursday, 15 December 2016 14:29

Convenient & Professional Services

 

We recently had a great review from a new client, and they emphasized the ease of working with Cahill Pro through online communication. Our client couldn't believe how quickly and professionally Taylor Cahill completed the T2 for his company, without him ever having to leave the comfort of his home!
 
We thought this would be a great time to remind our clients that we can do many of our services without you ever needing to come into the office.
 
Through telephone conversations or e-mail, we can begin working on all your personal or corporate accounting needs. We offer the ability to digitally download your files through our secure online site, found at http://www.cahillpro.com/contact. You can also securely sign documents electronically, and have them returned to your promptly. Many clients find these options very helpful, and avoids interrupting their work schedules and arranging times to meet. 
 
As usual, however, if you would like time to meet with one of our accountants one-on-one, we are always happy to schedule a meeting with you at our North Vancouver office, or one of our satellite offices in Vancouver or Burnaby. 
 
Cahill Professional Accountants wants you to feel confident that all your personal and professional accounting needs are being met promptly & efficiently in whatever way is most convenient for you. 
 
If you haven't already, follow us on Facebook, Twitter (@cahillpro), and Instagram where we post blog updates, new tax information, and things happening at our office. 
 
And as always, our website is: www.cahillpro.com

 

Monday, 05 December 2016 13:45

Empty Homes Tax- January 2017

Beginning in January 2017, an annual "Empty Homes Tax" will be applied annually to homes that are deemed to be empty in the city of Vancouver. Many people will not have to worry about this tax, as it will not apply to those owners who reside in their homes full-time or who have long-term renters. To see if this tax applies to you, the City of Vancouver has created a simple questionnaire:

http://vancouver.ca/home-property-development/empty-homes-tax-questionnaire.aspx

There are many exemptions to this tax, however in some cases, owners must submit evidence to the city in order for them to be exempt. For example, if you are currently undergoing large renovations and are not living in your home, your property has been subject to rental restrictions recently, or ownership of the property has recently changed, you will need to provide specific evidence to the city promptly. 

Other cases that are eligible for exemption, granted the correct information is provided, include:

  • Your home is being used for a minimum of six months of the year for work purposes within the City of Vancouver, but you claim your principal residence elsewhere.
  • You or your tenant is receiving long-term, in-patient  medical or supportive care.
  • The owner is deceased and a grant of probate or administration is pending.
  • Your property is under a court order prohibiting occupancy.
  • The property's use is limited to vehicle parking, or the shape, size, or other aspect of the property precludes the ability to construct a residential building.

The City of Vancouver website provides this list, along with all the necessary information to submit evidence for exemption, on their website. 

http://vancouver.ca/home-property-development/will-your-home-be-taxed.aspx

If you are concerned about how this will affect you and your current property, our team at Cahill Professional Accountants will be happy to answer any questions you might have. 

 

 

The beginning of October saw new tax changes aimed at foreign investors to Canada's real estate market, and have been imposed to ensure that these investors abide by existing tax rules. /div>
 
These changes also affect many Canadians residing in Vancouver. These new tax rules are very complex, and many Canadians are feeling unsure of what rules apply to them, and what to report when they sell property.  /div>
 

According to a report by Globe and Mail (by: Tim Cestnick) "The tax rules around principal residences are so complex that many Canadians simply don’t recognize when they might owe tax when they sell a property. Many have assumed that every sale of a residence is always tax-free thanks to the principal-residence exemption (PRE). And the taxman has not required Canadians to report the sale of a principal residence if the PRE will shelter the full gain from tax. The result has been that many have sold residences, have not reported the sale, have paid no tax, even in situations where tax should have been owing. These dispositions have gone largely undetected by the taxman. That’s changing."/p>

So, what does this mean for our clients? Under these new rules, you are now required to report every sale of a principal residence on your 2016 tax return (even if you don't owe tax). Understanding the principal residence rules can be quite complicated, and that it why it is very important to discuss any changes to property with your accountant come tax time. We've also had clients in Vancouver and North Vancouver contact us regarding concerns about what type of documents to keep regarding the sale of their property. We remind these clients that keeping all receipts and invoices, and any other documents related to the sale or transfer of property is helpful. /p>

Our accountants have been following these developments closely, and are happy to answer any questions you might have. /p>

**Globe and Mail Article: http://www.theglobeandmail.com/globe-investor/personal-finance/taxes/how-new-tax-changes-will-impact-every-canadian-homeowner/article32271116/

 

Monday, 03 October 2016 14:50

CPA the ONE National Conference- Vancouver

Our CPA's Jordan Cahill and Matthew Jacquet attended the National CPA Conference held at the Vancouver Convention Centre. This gave both Jordan and Matthew an opportunity to attend keynote addresses and various sessions to stay current on all things business and accounting related! Below are just some of the key things that Jordan and Matthew brought back to the North Vancouver office last week:

  • They gained new information regarding retirement, especially in reference to people who begin thinking about retirement later in their careers. 
  • They learned about how new 2016 budget changes and tax changes might have an affect on their clients.
  • They gathered some new tips on producing financial statements for their clients that are easier to understand. 

Jordan and Matthew networked with many professionals in various areas of Canadian business, and enjoyed meeting local business owners.

Attending conferences like these is just one way that Cahill Proffesional Accountants stays current and on top of new opportunities to better serve their current and new clients. 

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    Your Success Is Our Business

    Financial accounting, tax preparation, and much more.

    North Vancouver 604-985-0123

        

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