6 Startup CFO 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 startup cfo services work, not a general example.
Case Study 1 · Cash and remittance control
Remittance Schedule Corrected, $69,000 Refunded — Family Business Planning Succession, Victoria
Client: A family business planning succession · Where: Victoria, British Columbia · Engagement: 9 weeks, fixed fee
Overpayment refunded$69,000
Late remittances sinceZero
ScheduleAutomated
The situation
Remittances at a family business planning succession in Victoria, British Columbia were consistently late by a few days, which was enough to trigger penalties every quarter. Behind it sat revenue up 40% year over year and a bank balance that kept falling.
What we did
We produced a board-ready monthly package — cash, margin, pipeline and covenant headroom — that replaced a spreadsheet nobody trusted, then moved the remittance dates into a scheduled process rather than a monthly decision.
The result
Penalties stopped from the following remittance onwards, and $69,000 of overpaid instalments was refunded.
Case Study 2 · Sale and succession
Share Sale Restructured, $835,000 Less Tax On Closing — Subscription Business Tracking Churn, Windsor
Client: A subscription business tracking churn · Where: Windsor, Ontario · Engagement: 3 weeks, fixed fee
Tax saved on closing$835,000
PriceAs agreed
Post-closing adjustmentsNone
The situation
A subscription business tracking churn in Windsor, Ontario was preparing to sell. Due diligence surfaced retained cash well above what the business needed to operate, which would have reduced the price or killed the deal outright.
What we did
We cleaned up the historical file, modelled the covenant ratios monthly and restructured the debt before the next test date rather than after it, and prepared the due-diligence package the buyer's advisers actually asked for.
The result
The deal closed at the agreed price. $835,000 of tax was saved against the structure originally proposed, with no post-closing adjustment.
Case Study 3 · Records and systems rebuilt
Month-End Close Cut From 8 Weeks To 10 Days — Manufacturer Planning a Plant, Moncton
Client: A manufacturer planning a plant expansion · Where: Moncton, New Brunswick · Engagement: 8 weeks, fixed fee
Close time before8 weeks
Close time after10 days
Year-endReview, not rebuild
The situation
The accounting file at a manufacturer planning a plant expansion in Moncton, New Brunswick was built on an owner making hiring decisions on last quarter’s bank balance. The year-end had taken 8 weeks each of the last three years.
What we did
We rebuilt the reporting around gross margin by service line, which showed two of five offerings were losing money at the current price and moved the reconciliations into the monthly cycle, so the year-end stopped being a rebuild.
The result
The file reconciles. Month-end closes in 10 days instead of 8 weeks, and the year-end is a review rather than a reconstruction.
Case Study 4 · Missed incentive claimed
$126,000 In Credits Claimed That Prior Filings Had Missed — Clinic Group Acquiring a, Barrie
Client: A clinic group acquiring a competitor · Where: Barrie, Ontario · Engagement: 11 weeks, fixed fee
Credits claimed$126,000
Years adjusted6
Review outcomeNo adjustment
The situation
A clinic group acquiring a competitor in Barrie, Ontario had been filing for 6 years without ever claiming the incentives its activity qualified for. Behind that sat pricing set by feel, with no visibility into margin by service line.
What we did
We tested each activity against the eligibility criteria rather than the description on the invoice, then built a rolling thirteen-week cash-flow model, tightened collections, and renegotiated supplier terms so the growth stopped consuming the bank balance.
The result
$126,000 in credits claimed, with the open prior years adjusted as well. The claim passed review without adjustment.
Case Study 5 · Deadline rescue
$66,000 Late-Filing Penalty Cancelled On Relief Application — Professional Practice Adding Partners, Kelowna
Client: A professional practice adding partners · Where: Kelowna, British Columbia · Engagement: 9 weeks, fixed fee
Penalty cancelled$66,000
Relief applicationGranted
ReturnAccepted as filed
The situation
A professional practice adding partners in Kelowna, British Columbia had already missed one deadline and was about to miss a second. Behind it sat pricing set by feel, with no visibility into margin by service line, and a penalty of $66,000 was accruing.
What we did
We split the work into what had to happen before the deadline and what could follow it, then produced a board-ready monthly package — cash, margin, pipeline and covenant headroom — that replaced a spreadsheet nobody trusted.
The result
The outstanding return was accepted as filed, and the taxpayer relief application cancelled $66,000 of the penalty already assessed on the earlier year.
Case Study 6 · CRA review defended
$134,000 Proposed Adjustment Withdrawn In Full — Mid-Sized Professional Services Firm, Guelph
Client: A mid-sized professional services firm · Where: Guelph, Ontario · Engagement: 4 weeks, fixed fee
Adjustment withdrawn$134,000
File closed in4 weeks
Penalties assessedNone
The situation
A mid-sized professional services firm in Guelph, Ontario received a proposal letter opening a review of startup cfo services. The CRA had identified revenue up 40% year over year and a bank balance that kept falling and proposed an adjustment of $134,000, with 30 days to respond.
What we did
We treated the response as an evidence exercise rather than an argument. We modelled the covenant ratios monthly and restructured the debt before the next test date rather than after it, then indexed every supporting document against the specific line the auditor had questioned.
The result
The proposed adjustment was withdrawn in full — all $134,000 of it. The file closed in 4 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.
