How We Guided a Toronto eCommerce Business to Optimize Taxes and Credits
A Toronto-based eCommerce business approached Gondaliya CPA seeking expert guidance to optimize taxes, claim eligible credits, and improve cash flow. With multiple sales channels, inventory management, and online transactions, the company needed professional support to ensure CRA compliance and minimize tax liability.
About the Client
Business Type: eCommerce / online retail
Location: Toronto, Ontario, Canada
Previous Setup: In-house bookkeeping with limited tax planning
Key Challenges:
Managing taxes across multiple sales channels
Identifying eligible deductions and tax credits
Ensuring accurate GST/HST and payroll reporting
Minimizing audit risk and improving cash flow
Client Objectives
Maximize eligible deductions and tax credits for eCommerce operations
Ensure CRA compliance for GST/HST, payroll, and corporate taxes
Reduce overall tax liability
Streamline tax and bookkeeping processes for efficiency
What We Did
1. Financial & Tax Review
We reviewed sales records, expenses, and inventory to identify all opportunities for deductions and credits.
2. Tax Optimization & Credit Claims
Our team calculated eligible GST/HST credits, capital cost deductions, and other eCommerce-related deductions to minimize overall tax liability.
3. CRA Compliance & Reporting
We ensured all filings, including GST/HST, payroll, and corporate tax returns, were accurate and compliant with CRA regulations.
4. Ongoing Advisory Support
We provided guidance on bookkeeping best practices, quarterly planning, and strategies to optimize taxes for future periods.
Results
Maximized eligible deductions and credits, reducing tax liability
Improved cash flow for reinvestment in inventory and marketing
CRA compliance maintained, minimizing audit risk
Streamlined bookkeeping and reporting processes
Business empowered with a clear strategy for tax optimization
Summary:
Toronto eCommerce businesses rely on Gondaliya CPA to optimize taxes, claim eligible credits, and ensure CRA compliance, helping them reduce costs and reinvest in growth.