6 worked Financial Advisors case studies — the position a client typically comes to us with, what we do, and what it is worth. Each is an illustrative example built on the rules that apply to financial advisors work, not a specific client's file.
Case Study 1 · Deadline rescue
3-Week Turnaround Beat The Deadline And Saved $90,000 — Investment Advisory Firm, Calgary
Client: An investment advisory firm · Where: Calgary, Alberta · Engagement: 3 weeks, fixed fee
Late-filing penalty avoided$90,000
Filed with18 days to spare
Next yearPapers ready
The situation — An investment advisory firm, Calgary, Alberta
An investment advisory firm in Calgary, Alberta was weeks away from the deadline for financial advisors accounting and tax. Behind that sat seasonal revenue reported without matching the costs that produced it. The exposure if the date slipped was around $90,000.
What we did for An investment advisory firm, Calgary, Alberta
We rebuilt the chart of accounts around how a financial advisors business actually earns and spends. The filing went in complete rather than provisional, so there was no amended return to follow.
The result — An investment advisory firm, Calgary, Alberta
Filed with 18 days to spare. $90,000 in late-filing penalties avoided, and the working papers are ready for the following year.
The situation — A captive insurance manager, Hamilton, Ontario
The structure at a captive insurance manager in Hamilton, Ontario needed fixing. The file was carrying a previous accountant with no experience of this sector. Every option for fixing it ran through a reorganisation that had to be done without triggering tax.
What we did for A captive insurance manager, Hamilton, Ontario
We worked with the client's lawyer. Together, we reassigned the asset classes on the CCA schedule and corrected the opening balances. We also prepared the elections, resolutions and valuations the structure needed to stand up.
The result — A captive insurance manager, Hamilton, Ontario
The structure now matches the business. Annual saving of $23,500, and the reorganisation itself was tax-neutral.
Case Study 3 · Sale and succession
Share Sale Restructured, $840,000 Less Tax On Closing — Bookkeeping and Payroll Bureau, Brampton
Client: A bookkeeping and payroll bureau · Where: Brampton, Ontario · Engagement: 10 weeks, fixed fee
Tax saved on closing$840,000
PriceAs agreed
Post-closing adjustmentsNone
The situation — A bookkeeping and payroll bureau, Brampton, Ontario
A bookkeeping and payroll bureau in Brampton, Ontario was preparing to sell. Due diligence surfaced a minute book with no resolutions behind a decade of dividends. That would have reduced the price or killed the deal outright.
What we did for A bookkeeping and payroll bureau, Brampton, Ontario
We cleaned up the historical file. We aligned the reporting calendar with the sector’s own seasonal cycle rather than a generic year-end. Then we prepared the due-diligence package the buyer's advisers actually asked for.
The result — A bookkeeping and payroll bureau, Brampton, Ontario
The deal closed at the agreed price. $840,000 of tax was saved against the structure originally proposed, with no post-closing adjustment.
Case Study 4 · CRA review defended
$98,000 Proposed Adjustment Withdrawn In Full — Wealth Management Practice, Moncton
Client: A wealth management practice · Where: Moncton, New Brunswick · Engagement: 5 weeks, fixed fee
Adjustment withdrawn$98,000
File closed in5 weeks
Penalties assessedNone
The situation — A wealth management practice, Moncton, New Brunswick
A wealth management practice in Moncton, New Brunswick received a proposal letter opening a review of financial advisors accounting and tax. The CRA had identified a chart of accounts that told the owner nothing about financial advisors margin. It proposed an adjustment of $98,000, with 30 days to respond.
What we did for A wealth management practice, Moncton, New Brunswick
We treated the response as an evidence exercise rather than an argument. We documented the positions to the standard the CRA applies to this sector specifically. We then indexed every supporting document against the specific line the auditor had questioned.
The result — A wealth management practice, Moncton, New Brunswick
The proposed adjustment was withdrawn in full — all $98,000 of it. The file closed in 5 weeks with no change to the assessed amounts and no penalty.
Case Study 5 · Planning that cut the bill
$33,000 Cut From The Annual Tax Bill — Leasing Company, Vancouver
Client: A leasing company · Where: Vancouver, British Columbia · Engagement: 7 weeks, fixed fee
First-year saving$33,000
RepeatsAnnually
Filing positionUnchanged in risk
The situation — A leasing company, Vancouver, British Columbia
A leasing company in Vancouver, British Columbia was compliant but paying more than it needed to. The prior year had been filed correctly. It still left equipment and asset classes assigned by guesswork rather than the CCA schedule on the table.
What we did for A leasing company, Vancouver, British Columbia
We modelled the current position against the alternatives before changing anything. Then we reviewed every sector-specific deduction against the current rules and claimed the ones that had been missed.
The result — A leasing company, Vancouver, British Columbia
The change saved $33,000 in the first year and repeats annually. Nothing about the filings became more aggressive. The position is simply the one the rules already allowed.
Case Study 6 · Records and systems rebuilt
16 Months Reconciled And $16,000 Of Input Tax Recovered — Insurance Brokerage, Surrey
Client: An insurance brokerage · Where: Surrey, British Columbia · Engagement: 5 weeks, fixed fee
Months reconciled16
Input tax recovered$16,000
Close time9 days
The situation — An insurance brokerage, Surrey, British Columbia
Nothing reconciled at an insurance brokerage in Surrey, British Columbia. Every filing started with 16 months of cleanup. The file was carrying industry-specific reporting obligations nobody had flagged.
What we did for An insurance brokerage, Surrey, British Columbia
We rebuilt from source rather than correcting on top of the existing file. We rebuilt the chart of accounts around how a financial advisors business actually earns and spends. Then we set the routine that keeps it clean.
The result — An insurance brokerage, Surrey, British Columbia
16 months reconciled to the bank. The close now takes 9 days, and $16,000 of previously unclaimable input tax was recovered in the process.
Reviewed by Udit Gupta, Founder and Tax Accountant for the 2025 tax year. These case studies are illustrative worked examples composed from the CRA rules that apply to this type of work, not specific client files; figures are representative and outcomes depend on your own facts.
