Success Stories
Discover how SAL Accounting has helped businesses save time, reduce taxes, and boost profits.
Tax Resolution
Chempra's $158K HST Nightmare Resolved to Just $3K
The Problem
Chempra LLC is a Florida-based petrochemical supplier to large oil companies in Alberta. When Chempra came to SAL Accounting, it was owing $158,000 in HST to the CRA. This situation was giving the founders sleepless nights as the interests and penalties were increasing day by day.
Our Solution
When the SAL team took over, we got straight to work, took a deep dive into the numbers and found an error in the books, which was the cause of this issue. Adam and Sarah quickly fixed this and reached out to the CRA to rectify the incorrect filings. The team made sure to keep Chempra’s founders informed throughout the process, reassuring them that this would be fixed in no time.
The Impact
- HST payable reduced from $158,000 to just $3,000
- All penalties and interest completely waived
- Enabled focus on Canadian market expansion
Tax Planning
EPSOL Saves 48% on Corporation Tax with Expert Deductions
The Problem
EPSOL is the next disruptor in the digital marketing space but when it came to their corporation tax, they were badly struggling. As Jas went through their last year’s books, he noticed that they were not claiming the maximum deduction for their contractors overseas. This meant they were paying much higher taxes and not able to reinvest their profits to fuel further growth.
Our Solution
Jas advised them to always obtain invoices from overseas contractors and to improve their money trail when paying overseas. By doing this, EPSOL was able to claim the maximum deductions and maintain strong evidence to support the payments in case of a CRA audit.
The Impact
- Achieved $8,400 in annual tax savings
- Improved documentation for overseas payments
- Enhanced ability to reinvest in growth
Profit Optimization
Popeyes Dixie Dundas Boosts Margins by 28% with Better Bookkeeping
The Problem
Popeyes at Dixie and Dundas had one of the highest sales amongst all their branches in the city but one of the lowest margins. When the SAL team analyzed their books, we realized that almost none of their sales were coming from combo meals.
Our Solution
Adam interviewed the Popeyes staff members to realize that when a customer placed an order for a burger, the cashiers were not suggesting an upgrade to a combo meal. He then worked hand-in-hand with management to implement a commission policy, incentivising cashiers to promote combo meals to customers.
The Impact
- 28% increase in margins within one quarter
- Successfully implemented staff incentive program
- Maximized combo meal sales opportunities