6 Virtual Accounting 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 virtual accounting work, not a general example.
Case Study 1 · Records and systems rebuilt
27 Months Reconciled And $11,000 Of Input Tax Recovered — Boutique Fitness Studio Group, Kelowna
Client: A boutique fitness studio group · Where: Kelowna, British Columbia · Engagement: 4 weeks, fixed fee
Months reconciled27
Input tax recovered$11,000
Close time7 days
The situation
A boutique fitness studio group in Kelowna, British Columbia was carrying a shareholder loan account that had drifted for three years with no supporting entries. Nothing reconciled, and every filing started with 27 months of cleanup.
What we did
We rebuilt from source rather than correcting on top of the existing file. We reconciled the inter-company accounts, papered the arrangement with a written agreement, and aligned both corporations’ year-ends, then set the routine that keeps it clean.
The result
27 months reconciled to the bank. The close now takes 7 days, and $11,000 of previously unclaimable input tax was recovered in the process.
Case Study 2 · Deadline rescue
Filed On Time From A Standing Start, $51,000 Penalty Avoided — Family-Owned Wholesale Distributor, Lethbridge
Client: A family-owned wholesale distributor · Where: Lethbridge, Alberta · Engagement: 5 weeks, fixed fee
Penalty avoided$51,000
Turnaround5 weeks
FiledOn time
The situation
A family-owned wholesale distributor in Lethbridge, Alberta came to us 5 weeks before its filing deadline with two sets of numbers — one in the accounting file, one the owner actually ran the business on. A late filing would have triggered a penalty of roughly $51,000 before interest.
What we did
We worked backwards from the deadline. 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, 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 $51,000 penalty never arose, and the compliance calendar we set means the next deadline is scheduled rather than discovered.
Case Study 3 · Objection and relief
Notice Of Objection Allowed In Full, $13,000 Reversed — Specialty Food Importer, Calgary
Client: A specialty food importer · Where: Calgary, Alberta · Engagement: 7 weeks, fixed fee
Amount reversed$13,000
ObjectionAllowed in full
Account balanceNil
The situation
A specialty food importer in Calgary, Alberta had been reassessed for $13,000 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. $13,000 was reversed and the account returned to a nil balance.
A machine-shop owner-operator in Mississauga, Ontario was carrying year-end statements that arrived four months late and never tied to the bank, 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 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 and prepared the elections, resolutions and valuations the structure needed to stand up.
The result
The structure now matches the business. Annual saving of $55,000, and the reorganisation itself was tax-neutral.
Case Study 5 · Backlog brought current
$77,000 Of Arbitrary Assessments Vacated After 4 Years — Growing Landscaping Company, Ottawa
Client: A growing landscaping company · Where: Ottawa, Ontario · Engagement: 5 weeks, fixed fee
Arbitrary tax vacated$77,000
Years brought current4
Account statusCurrent
The situation
4 years of unfiled returns had turned into notional assessments at a growing landscaping company in Ottawa, Ontario, with inter-company balances between two related corporations that had never been reconciled underneath. Collections had already started.
What we did
We reconciled the inter-company accounts, papered the arrangement with a written agreement, and aligned both corporations’ year-ends, then filed every outstanding year in chronological order so the CRA could vacate the notional assessments cleanly.
The result
All 4 years were accepted as filed. $77,000 of arbitrarily assessed tax was vacated, collections action stopped, and the account is current for the first time in 4 years.
Case Study 6 · Sale and succession
Share Sale Restructured, $525,000 Less Tax On Closing — Commercial Cleaning Contractor, Hamilton
A commercial cleaning contractor in Hamilton, Ontario was preparing to sell. Due diligence surfaced passive assets sitting inside the operating company, disqualifying the shares, which would have reduced the price or killed the deal outright.
What we did
We cleaned up the historical file, 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 prepared the due-diligence package the buyer's advisers actually asked for.
The result
The deal closed at the agreed price. $525,000 of tax was saved against the structure originally proposed, with no post-closing adjustment.
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.
