Canadian Cypress Inc.

07/04/2025

Happy Independence Day! 🎆
On behalf of Canadian Cypress, we wish all our friends, clients, and partners a joyful and safe 4th of July.
May your day be filled with pride, celebration, and the spirit of freedom! 🎇

01/04/2025

Did you know that if your employees earn tips and gratuities, they are considered income and need to be reported on their tax returns? How it is to be reported depends on you (the employer) and how you provide your employees with that money. If you control your employees’ tips, you should include the amount on their T4 slip. Not sure what you are responsible for? Contact us at (604) 409-4049.

Information on how tips and gratuities are treated for purposes of the Canada Pension Plan (CPP) and the Employment Insurance Act (EIA).

01/03/2025

We know the benefits of outsourcing your books, but so should you!
1️⃣ Gives you more time to focus on running your business
2️⃣ Keep accurate financial records
3️⃣ Gain insights into how your business can grow
4️⃣ Reduce the risk of costly errors
5️⃣Ensure you’re staying compliant with CRA regulations.
Convinced? Give us a call at (604) 409-4049 to discuss how we can help you today.

01/01/2025

Trying to figure out where your assets will go and who will be included in your will can be overwhelming. If you're unsure of where to start, try following these basic estate planning steps as inspiration! These ideas can help with organizing and making those first steps toward getting your estate in order. Our team is here to assist with bringing these ideas into a comprehensive estate plan. Schedule your initial consultation with us today at (604) 409-4049!

12/31/2024

The payroll deductions formulas for 2025 are now available and if tax changes are enacted as they were proposed, they go into effect on January 1, 2025. This comprehensive guide will tell you all you need to know when starting your first payroll in the new year. Let us help you handle it all! Call us at (604) 409-4049 and we will get your business ready to start 2025 on the right foot.

Payroll Deductions Formulas - 117th Edition Effective January 1, 2023

12/28/2024

As we grow older we must consider where our assets will go once we pass. That's where estate planning comes in, as it will help you with deciding what will happen to your assets and finances, who will be the one to carry out your wishes, set up trusts, and make funeral arrangements. We are here to help make estate planning easier for you. Contact us today at (604) 409-4049.

12/27/2024

Not all accounting & bookkeeping firms are created equal! Looking for one that knows just how to properly bookkeep for your small business? Well look no further! We are here to help you focus on what you do best – running your business. Contact us at (604) 409-4049 for more information about our services.

12/25/2024

2025 is almost here! That mean's tax season is on its way. When preparing your tax return, one of the most important pieces of information you'll need are the federal tax brackets and provincial tax brackets. In Canada, federal tax rates are only applied to the amount of money you've earned within a tax bracket. You can use the table below to help estimate your federal tax return. For more in depth tax guidance, contact us at (604) 409-4049 today!

12/24/2024

Are you ready for the 2025 tax season? Mark your calendars, this coming tax season starts on January 1st and ends on April 30th. If you need help with filing your taxes, we're here to help. Call us today at (604) 409-4049 to set up your initial consultation!

12/20/2024

By hiring a business to negotiate a lump-sum payment with your creditors for less than what you owe, you can settle your debt. Additionally, debt settlement firms require a fee for their assistance. Settlement fees are typically highly expensive, far higher than what you would spend if you avoided the middleman and paid off your bills directly to the company, in some instances.

12/19/2024

The accrual method requires you to deduct expenses in the fiscal period in which they are incurred, regardless of whether you pay them within that period, and report income in the fiscal period in which it is earned, irrespective of when it is received. Create an inventory list and maintain it as part of your company's documentation.

12/17/2024

What would happen to your retirement if you decided to get rid of your monthly auto payments, and buy an affordable car with cash? Your savings would increase. Focus on putting your hard-earned money to work by investing it for your retirement rather than continually allocating a portion of your income to auto payments, only to have a car that depreciates annually.