How We Guided an Oshawa Business Through Strategic Tax Planning

An Oshawa-based business approached Gondaliya CPA for professional guidance on tax planning. With multiple revenue streams, expenses, and potential deductions, the company wanted to reduce tax liability, stay compliant, and plan for future growth.

About the Client

Business Type: Professional services / incorporated business
Location: Oshawa, Ontario, Canada
Previous Setup: Minimal formal tax planning, reactive approach to taxes
Key Challenges:
- High tax liability due to lack of strategic planning
- Limited knowledge of eligible deductions, credits, and incentives
- Complexity of CRA compliance for multiple revenue streams
- Need for future-oriented planning to support growth

Client Objectives

Minimize overall tax liability while staying CRA-compliant
Identify all eligible deductions and tax credits
Implement a long-term tax strategy for sustainable growth
Ensure proper record-keeping and planning for year-end filings

What We Did

1. Comprehensive Tax Review
We analyzed the company’s financial statements, income, and expenses to identify areas for tax optimization.

2. Strategic Tax Planning
Our team developed a tailored tax plan, including eligible deductions, credits, and income-splitting strategies where applicable.

3. CRA Compliance & Reporting Guidance
We ensured all proposed strategies aligned with CRA regulations, reducing audit risk and ensuring accuracy in reporting.

4. Ongoing Advisory Support
We provided guidance on quarterly planning, anticipated tax obligations, and best practices for record-keeping to maintain compliance and optimize cash flow.

Results

Tax liability significantly reduced through strategic planning
Eligible deductions and credits fully utilized
CRA compliance maintained, minimizing audit risk
Company gained clarity on financial planning for growth
Long-term tax strategy established for ongoing efficiency

Summary:
Oshawa businesses rely on Gondaliya CPA for expert tax planning that minimizes tax liability, ensures CRA compliance, and supports long-term business growth.