6 Monthly Financial Statement Preparation 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 monthly financial statement preparation work, not a general example.
Client: A family-owned wholesale distributor · Where: Halifax, Nova Scotia · Engagement: 4 weeks, fixed fee
Annual saving$29,000
ReorganisationTax-neutral
StructureMatches operations
The situation
A family-owned wholesale distributor in Halifax, Nova Scotia was carrying two sets of numbers — one in the accounting file, one the owner actually ran the business on, 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 reconciled the inter-company accounts, papered the arrangement with a written agreement, and aligned both corporations’ year-ends and prepared the elections, resolutions and valuations the structure needed to stand up.
The result
The structure now matches the business. Annual saving of $29,000, and the reorganisation itself was tax-neutral.
Case Study 2 · Records and systems rebuilt
Books Rebuilt From Source, $15,000 In Unclaimed Input Tax Found — Specialty Food Importer, Hamilton
A specialty food importer in Hamilton, Ontario could not answer basic questions about its own numbers, because a bank that refused to renew an operating line without compliant statements sat between the bank statements and the ledger.
What we did
We 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, 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, $15,000 recovered in input tax credits that the old file could not support, and a documented monthly process now in place.
Case Study 3 · Scaling without breaking
Scaled To 42 Staff With $64,000 Of Working Capital Freed — Machine-Shop Owner-Operator, Ottawa
A machine-shop owner-operator in Ottawa, Ontario was growing fast — headcount to 42 in eighteen months — and the back office had not kept up. Year-end statements that arrived four months late and never tied to the bank was the first thing to break.
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 built the compliance calendar for the size the business was becoming rather than the size it had been.
The result
The business reached 42 staff with no missed remittance and no late filing. $64,000 of working capital was freed in the process.
Case Study 4 · Sale and succession
$505,000 Sheltered By The Lifetime Capital Gains Exemption — Growing Landscaping Company, Mississauga
Client: A growing landscaping company · Where: Mississauga, Ontario · Engagement: 4 weeks, fixed fee
Gain sheltered$505,000
ClosingOn schedule
Share qualificationMet
The situation
A growing landscaping company in Mississauga, Ontario had an offer on the table and 30 months to close. The shares did not qualify for the capital gains exemption, and passive assets sitting inside the operating company, disqualifying the shares 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 $505,000 sheltered by the lifetime capital gains exemption across the shareholders.
Case Study 5 · Objection and relief
Notice Of Objection Allowed In Full, $142,000 Reversed — Boutique Fitness Studio Group, Calgary
Client: A boutique fitness studio group · Where: Calgary, Alberta · Engagement: 4 weeks, fixed fee
Amount reversed$142,000
ObjectionAllowed in full
Account balanceNil
The situation
A boutique fitness studio group in Calgary, Alberta had been reassessed for $142,000 and had 12 days left on the objection deadline. The reassessment rested on a shareholder loan account that had drifted for three years with no supporting entries.
What we did
We filed the objection inside the deadline with a complete submission rather than a placeholder, and reconciled the inter-company accounts, papered the arrangement with a written agreement, and aligned both corporations’ year-ends.
The result
The appeals officer allowed the objection in full. $142,000 was reversed and the account returned to a nil balance.
Case Study 6 · Cash and remittance control
$88,000 Of Working Capital Freed From The Tax Cycle — Two-Partner Engineering Firm, Lethbridge
Client: A two-partner engineering firm · Where: Lethbridge, Alberta · Engagement: 9 weeks, fixed fee
Working capital freed$88,000
On-time remittancesEvery period since
Forecast horizon13 weeks
The situation
A two-partner engineering firm in Lethbridge, Alberta was profitable on paper and short of cash every month. Two sets of numbers — one in the accounting file, one the owner actually ran the business on explained most of the gap.
What we did
We 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 and built a thirteen-week cash view so tax payments stopped competing with payroll for the same dollars.
The result
$88,000 was released back into working capital. Remittances have been on time every period since, and the forecast shows the tax outflow before it lands.
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.
