A three-location restaurant group had a year of tangled books. We rebuilt and reconciled everything in 60 days, ready for filing.
A restaurant group with three locations had commingled expenses, unreconciled accounts, and no location-level reporting. We rebuilt a full year of books, separated the locations, reconciled every account, and produced per-location statements. The owners gained clear margins by location and filed on time.
Hospitality files are examined for tip reporting and food cost ratios benchmarked against sector norms.
The CRA requires business records to be kept for six years from the end of the tax year they relate to, in a form that allows the return to be verified.
Why it bites: Where records cannot support the return, the CRA is entitled to assess on its own estimate — and the burden of disproving that estimate falls on the taxpayer.
A small corporation still carries the full compliance set: T2, GST/HST, payroll, and the annual return with the incorporating jurisdiction.
Why it bites: The annual corporate return is separate from the T2 and is the one most often forgotten, which can lead to administrative dissolution.
A CCPC files its T2 within six months of year-end, with the balance due two months after (three where the small business deduction is claimed). The 9% federal small business rate applies to the first $500,000 of active business income.
Why it bites: The filing and payment deadlines differ, and interest runs from the payment date. Filing on time while paying late still costs money.
Every engagement above was priced as a fixed fee agreed before the work started, and paid only once the client had reviewed the result. If any of this looks like your situation, the first step is a free 15-minute call — we will tell you plainly whether there is anything worth doing.
Reviewed for the 2025 tax year by Udit Gupta, Certified Tax Accountant. Figures describe a real engagement; outcomes depend on your own facts. Client details are omitted for confidentiality.
