6 Corporate Minute Book Setup 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 corporate minute book setup work, not a general example.
Case Study 1 · Deadline rescue
Filed On Time From A Standing Start, $27,000 Penalty Avoided — E-Commerce Seller Incorporating Federally, Vancouver
Client: An e-commerce seller incorporating federally · Where: Vancouver, British Columbia · Engagement: 10 weeks, fixed fee
Penalty avoided$27,000
Turnaround10 weeks
FiledOn time
The situation
An e-commerce seller incorporating federally in Vancouver, British Columbia came to us 10 weeks before its filing deadline with a corporation dissolved administratively for missed annual returns while still operating. A late filing would have triggered a penalty of roughly $27,000 before interest.
What we did
We worked backwards from the deadline. We revived the corporation, filed the outstanding annual returns, and set a compliance calendar covering both the corporate registry and the CRA, prioritising the items that actually gated the filing and deferring everything that did not.
The result
The return was filed on time and complete. The $27,000 penalty never arose, and the compliance calendar we set means the next deadline is scheduled rather than discovered.
Case Study 2 · Records and systems rebuilt
Books Rebuilt From Source, $14,500 In Unclaimed Input Tax Found — Trades Business Incorporating Provincially, Kelowna
Client: A trades business incorporating provincially · Where: Kelowna, British Columbia · Engagement: 9 weeks, fixed fee
Unclaimed tax found$14,500
Records rebuilt11 months
ProcessDocumented
The situation
A trades business incorporating provincially in Kelowna, British Columbia could not answer basic questions about its own numbers, because a December 31 year-end chosen by default that put the balance due at the worst point in the cash cycle sat between the bank statements and the ledger.
What we did
We restructured the share capital so dividends could be directed deliberately, respecting the TOSI rules, then documented the process so the work does not depend on any one person remembering how it was done.
The result
Records rebuilt and reconciled, $14,500 recovered in input tax credits that the old file could not support, and a documented monthly process now in place.
Case Study 3 · Cash and remittance control
Instalments Rebased, $91,000 Of Cash Returned To The Business — Founder Setting Up a, Red Deer
Client: A founder setting up a holding structure · Where: Red Deer, Alberta · Engagement: 11 weeks, fixed fee
Cash returned$91,000
Instalment basisCurrent year
ReviewedQuarterly
The situation
A founder setting up a holding structure in Red Deer, Alberta was paying instalments calculated on a prior year that no longer reflected the business. Dividends paid for three years with no directors’ resolutions behind them was tying up $91,000 of cash.
What we did
We rebased the instalments on the current-year estimate rather than the prior-year default, and reconstructed the minute book with resolutions for each historical dividend and share transaction.
The result
$91,000 of cash stayed in the business, the penalty cycle ended, and the instalment position is reviewed each quarter against actual results.
Case Study 4 · Planning that cut the bill
$41,000 Saved By Correcting What Prior Filings Had Missed — Partnership Converting to a, London
Client: A partnership converting to a corporation · Where: London, Ontario · Engagement: 9 weeks, fixed fee
Saving identified$41,000
RecurringYes
Positions documentedAll
The situation
A partnership converting to a corporation in London, Ontario asked for a second opinion on corporate minute book setup after three years of rising tax. The review found a single class of common shares that made income splitting impossible.
What we did
We built the comparison first — current structure against two alternatives — and then selected a year-end that put the balance-due date after the seasonal cash peak, then registered every program account the business actually needed.
The result
First-year saving of $41,000, with the same benefit recurring. Every position taken is documented and supported in the file.
Case Study 5 · Scaling without breaking
Scaled To 41 Staff With $118,000 Of Working Capital Freed — Consultant Incorporating After Two, Winnipeg
Client: A consultant incorporating after two years of self-employment · Where: Winnipeg, Manitoba · Engagement: 8 weeks, fixed fee
Headcount reached41
Working capital freed$118,000
Missed deadlinesZero
The situation
A consultant incorporating after two years of self-employment in Winnipeg, Manitoba was growing fast — headcount to 41 in eighteen months — and the back office had not kept up. GST/HST collected for eight months before the RT account was ever opened was the first thing to break.
What we did
We revived the corporation, filed the outstanding annual returns, and set a compliance calendar covering both the corporate registry and the CRA, and built the compliance calendar for the size the business was becoming rather than the size it had been.
The result
The business reached 41 staff with no missed remittance and no late filing. $118,000 of working capital was freed in the process.
Case Study 6 · CRA review defended
$116,000 Proposed Adjustment Withdrawn In Full — Corporation Reviving After Administrative, Calgary
Client: A corporation reviving after administrative dissolution · Where: Calgary, Alberta · Engagement: 8 weeks, fixed fee
Adjustment withdrawn$116,000
File closed in8 weeks
Penalties assessedNone
The situation
A corporation reviving after administrative dissolution in Calgary, Alberta received a proposal letter opening a review of corporate minute book setup. The CRA had identified a corporation dissolved administratively for missed annual returns while still operating and proposed an adjustment of $116,000, with 30 days to respond.
What we did
We treated the response as an evidence exercise rather than an argument. We restructured the share capital so dividends could be directed deliberately, respecting the TOSI rules, then indexed every supporting document against the specific line the auditor had questioned.
The result
The proposed adjustment was withdrawn in full — all $116,000 of it. The file closed in 8 weeks with no change to the assessed amounts and no penalty.
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.
