6 Inventory Count Assistance 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 inventory count assistance work, not a general example.
Case Study 1 · Missed incentive claimed
$138,000 In Credits Claimed That Prior Filings Had Missed — Corporation Entering a Shareholder, Kelowna
Client: A corporation entering a shareholder buyout · Where: Kelowna, British Columbia · Engagement: 4 weeks, fixed fee
Credits claimed$138,000
Years adjusted5
Review outcomeNo adjustment
The situation
A corporation entering a shareholder buyout in Kelowna, British Columbia had been filing for 5 years without ever claiming the incentives its activity qualified for. Behind that sat a buyer’s due-diligence list that the existing statement package could not answer.
What we did
We tested each activity against the eligibility criteria rather than the description on the invoice, then prepared a due-diligence-ready statement set with supporting schedules for each material balance.
The result
$138,000 in credits claimed, with the open prior years adjusted as well. The claim passed review without adjustment.
Case Study 2 · Deadline rescue
$105,000 Late-Filing Penalty Cancelled On Relief Application — Company Refinancing Its Operating, Moncton
Client: A company refinancing its operating line · Where: Moncton, New Brunswick · Engagement: 4 weeks, fixed fee
Penalty cancelled$105,000
Relief applicationGranted
ReturnAccepted as filed
The situation
A company refinancing its operating line in Moncton, New Brunswick had already missed one deadline and was about to miss a second. Behind it sat a buyer’s due-diligence list that the existing statement package could not answer, and a penalty of $105,000 was accruing.
What we did
We split the work into what had to happen before the deadline and what could follow it, then upgraded the engagement to a CSRE 2400 review, completed the additional procedures, and delivered a package the lender accepted without conditions.
The result
The outstanding return was accepted as filed, and the taxpayer relief application cancelled $105,000 of the penalty already assessed on the earlier year.
Case Study 3 · CRA review defended
$139,000 Reassessment Reduced To Nil On Review — Business Preparing for Sale, Victoria
Client: A business preparing for sale · Where: Victoria, British Columbia · Engagement: 8 weeks, fixed fee
Reassessment reduced toNil
Tax protected$139,000
Prior filingsUndisturbed
The situation
A review notice arrived at a business preparing for sale in Victoria, British Columbia covering inventory count assistance for two tax years. The auditor's working position was an adjustment of $139,000, driven by a prior-year restatement with no note explaining what changed.
What we did
Rather than negotiate, we rebuilt the record. We converted the records to the accrual basis, restated the comparative year with proper disclosure, and rebuilt the statement package around the bonding company’s requirements and submitted a point-by-point response that answered each proposed adjustment with the document behind it.
The result
The auditor accepted the documented position and closed the review without adjustment, protecting $139,000 and leaving the prior filings undisturbed.
Case Study 4 · Objection and relief
Desk-Review Assessment Of $15,500 Vacated — Not-For-Profit with a Bylaw, Kitchener
Client: A not-for-profit with a bylaw audit requirement · Where: Kitchener, Ontario · Engagement: 6 weeks, fixed fee
Assessment vacated$15,500
Supporting recordsNow on file
AccountCleared
The situation
A not-for-profit with a bylaw audit requirement in Kitchener, Ontario was carrying $15,500 of penalties and interest arising from a bonding limit capped because the last statements were prepared on a cash basis, much of it accumulated during a period the CRA itself had delayed.
What we did
We compressed the close to 45 days by moving reconciliations into the monthly cycle, so the covenant deadline stopped being a scramble and framed the relief application on the specific grounds the CRA guidelines recognise rather than on general hardship.
The result
The assessment was vacated. $15,500 came off the account, and the documentation now on file makes the same position straightforward to defend next time.
Case Study 5 · Scaling without breaking
Growth Handled Without A Missed Filing, $144,000 Freed — Contractor Bidding on Bonded, Brampton
Client: A contractor bidding on bonded work · Where: Brampton, Ontario · Engagement: 10 weeks, fixed fee
Cash freed$144,000
Compliance failuresNone
ReportingMonthly
The situation
A contractor bidding on bonded work in Brampton, Ontario was opening in a second province — different filing obligations, a different payroll regime, and statements delivered five months after year-end, past the covenant deadline already in the file.
What we did
We prepared a due-diligence-ready statement set with supporting schedules for each material balance and put monthly reporting in place so the owner could see the cash effect of growth while there was still time to act on it.
The result
Growth was absorbed without a compliance failure. $144,000 of cash was released, and the monthly reporting now flags a problem while it is still small.
Case Study 6 · Structure rebuilt
Reorganisation Completed Tax-Deferred, $61,000 Saved Each Year — Corporation with an Outside, London
Client: A corporation with an outside minority shareholder · Where: London, Ontario · Engagement: 7 weeks, fixed fee
Annual saving$61,000
Tax on reorganisationDeferred
Elections filedOn time
The situation
A corporation with an outside minority shareholder in London, Ontario had outgrown the structure it started with. A bank asking for a review engagement while the file only supported a compilation was the immediate problem; the longer-term one was that the structure blocked the next step.
What we did
We mapped the current structure, modelled the target, and upgraded the engagement to a CSRE 2400 review, completed the additional procedures, and delivered a package the lender accepted without conditions — with the tax-deferred elections filed on time and the supporting valuations documented.
The result
The reorganisation completed without triggering tax, and the new structure saves approximately $61,000 a year while removing the exposure the old one carried.
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.
