6 Financial Advisors tax and accounting engagements in full — what the client came to us with, what we did, and what it was worth. Each one is specific to financial advisors work, not a general example.
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
With the deadline for financial advisors accounting and tax weeks away, an investment advisory firm in Calgary, Alberta was carrying seasonal revenue reported without matching the costs that produced it. The exposure if the date slipped was around $90,000.
What we did
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
Filed with 18 days to spare. $90,000 in late-filing penalties avoided, and the working papers are ready for the following year.
A captive insurance manager in Hamilton, Ontario was carrying a previous accountant with no experience of this sector, and every option for fixing it ran through a reorganisation that had to be done without triggering tax.
What we did
Working with the client's lawyer, we reassigned the asset classes on the CCA schedule and corrected the opening balances and prepared the elections, resolutions and valuations the structure needed to stand up.
The result
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 in Brampton, Ontario was preparing to sell. Due diligence surfaced a minute book with no resolutions behind a decade of dividends, which would have reduced the price or killed the deal outright.
What we did
We cleaned up the historical file, aligned the reporting calendar with the sector’s own seasonal cycle rather than a generic year-end, and prepared the due-diligence package the buyer's advisers actually asked for.
The result
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 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 and proposed an adjustment of $98,000, with 30 days to respond.
What we did
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, then indexed every supporting document against the specific line the auditor had questioned.
The result
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 in Vancouver, British Columbia was compliant but paying more than it needed to. The prior year had been filed correctly and still left equipment and asset classes assigned by guesswork rather than the CCA schedule on the table.
What we did
We modelled the current position against the alternatives before changing anything, then reviewed every sector-specific deduction against the current rules and claimed the ones that had been missed.
The result
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 in Surrey, British Columbia was carrying industry-specific reporting obligations nobody had flagged. Nothing reconciled, and every filing started with 16 months of cleanup.
What we did
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 set the routine that keeps it clean.
The result
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 for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe representative engagements of this type; outcomes depend on your own facts. Client names and identifying details are omitted for confidentiality.
