6 Month-End Closing Services 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 month-end closing services work, not a general example.
Case Study 1 · Objection and relief
Notice Of Objection Allowed In Full, $43,000 Reversed — Specialty Food Importer, Moncton
Client: A specialty food importer · Where: Moncton, New Brunswick · Engagement: 7 weeks, fixed fee
Amount reversed$43,000
ObjectionAllowed in full
Account balanceNil
The situation
A specialty food importer in Moncton, New Brunswick had been reassessed for $43,000 and had 14 days left on the objection deadline. The reassessment rested on a bank that refused to renew an operating line without compliant statements.
What we did
We filed the objection inside the deadline with a complete submission rather than a placeholder, and separated personal and corporate spending, cleared the shareholder loan through a documented salary and dividend mix, and restated the comparative year.
The result
The appeals officer allowed the objection in full. $43,000 was reversed and the account returned to a nil balance.
Case Study 2 · Planning that cut the bill
$52,000 Cut From The Annual Tax Bill — Growing Landscaping Company, London
Client: A growing landscaping company · Where: London, Ontario · Engagement: 8 weeks, fixed fee
First-year saving$52,000
RepeatsAnnually
Filing positionUnchanged in risk
The situation
A growing landscaping company in London, Ontario was compliant but paying more than it needed to. The prior year had been filed correctly and still left a shareholder loan account that had drifted for three years with no supporting entries on the table.
What we did
We modelled the current position against the alternatives before changing anything, then reconciled the inter-company accounts, papered the arrangement with a written agreement, and aligned both corporations’ year-ends.
The result
The change saved $52,000 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 3 · Sale and succession
$540,000 Sheltered By The Lifetime Capital Gains Exemption — Family-Owned Wholesale Distributor, Mississauga
A family-owned wholesale distributor in Mississauga, Ontario had an offer on the table and 17 months to close. The shares did not qualify for the capital gains exemption, and no valuation on file to support the price the parties had agreed was part of the reason.
What we did
We purified the corporation so the shares met the qualifying tests, then set a monthly close calendar with a fixed cut-off, so the year-end became a review of work already done rather than a twelve-month rebuild well ahead of the closing date.
The result
The sale closed on schedule with $540,000 sheltered by the lifetime capital gains exemption across the shareholders.
A machine-shop owner-operator in Barrie, Ontario had already missed one deadline and was about to miss a second. Behind it sat two sets of numbers — one in the accounting file, one the owner actually ran the business on, and a penalty of $32,000 was accruing.
What we did
We split the work into what had to happen before the deadline and what could follow it, then rebuilt the trial balance from source documents, reconciled every bank and credit-card account, and issued a CSRS 4200 compilation with a proper basis-of-accounting note.
The result
The outstanding return was accepted as filed, and the taxpayer relief application cancelled $32,000 of the penalty already assessed on the earlier year.
Case Study 5 · Scaling without breaking
Growth Handled Without A Missed Filing, $150,000 Freed — Boutique Fitness Studio Group, Burnaby
Client: A boutique fitness studio group · Where: Burnaby, British Columbia · Engagement: 10 weeks, fixed fee
Cash freed$150,000
Compliance failuresNone
ReportingMonthly
The situation
A boutique fitness studio group in Burnaby, British Columbia was opening in a second province — different filing obligations, a different payroll regime, and inter-company balances between two related corporations that had never been reconciled already in the file.
What we did
We separated personal and corporate spending, cleared the shareholder loan through a documented salary and dividend mix, and restated the comparative year 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. $150,000 of cash was released, and the monthly reporting now flags a problem while it is still small.
Case Study 6 · Backlog brought current
6 Years Filed, $44,000 Removed From The Assessed Balance — Regional Courier Operator, Edmonton
Client: A regional courier operator · Where: Edmonton, Alberta · Engagement: 11 weeks, fixed fee
Years filed6
Assessed balance removed$44,000
CollectionsStopped
The situation
A regional courier operator in Edmonton, Alberta had not filed for 6 years. The CRA had issued arbitrary assessments, and the business was carrying a bank that refused to renew an operating line without compliant statements on top of a growing interest balance.
What we did
We started with the oldest year and worked forward so each year's closing balances fed the next. We reconciled the inter-company accounts, papered the arrangement with a written agreement, and aligned both corporations’ year-ends, filing the years in sequence rather than all at once.
The result
Every year is now filed and assessed on actual figures. The notional assessments were vacated and $44,000 of the estimated balance came off, with a payment arrangement covering the rest.
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.
