Spend more time working billable hours and bring in higher revenues for your firm.
Accounting & Tax Accountants for Attorneys, Lawyers and Law Firms
From multi-partner law firms that employ a sizable staff to local sole proprietors, we offer accounting and tax services that can be customized to suit the needs of your particular practice.
Tax Issues for Legal Businesses
Business Structuring for Legal Businesses
Set up the business as an LLP or Professional Corporation? Corporation structure for a limited partnership: only lawyer can be shareholder – ask us. Set up separate corporations for management of the company, and legal segment of the company. Ask us.
Business Structuring for Legal Businesses
Tax deductible expenses include:
- Home office and office expenses
- Automobile expenses
- Memberships and Professional Fees
- Referral Fees
- Professional Insurance
- Courses – You can include your tuition expense as a tuition credit on your personal tax return (Schedule 11, to be more specific). or you can include your tuition expense as an actual Expense on your personal tax return (T2125) – ask us.
- Software and licences
- Gift and meals to clients
- Accounting
Accounting Issues for Legal Businesses
- Trust account tracking – use proper trust account tracking software.
- Use a Cloud-based Accounting System, ask us about your options.
- Be aware of audits by Law Society.
- Work-In-Progress needs to be reported as income in correct way – ask us
- Salary, dividends or owner drawings? – ask us
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Accounting Solutions Across Every Industry Sector
Xero Online Accounting Software
Operate more efficiently and have more time to focus on your business. Find out why over 300,000 people worldwide have moved to Xero’s online accounting solution.
Xero Key Features
- Invoicing Made Easy
Not only can you create professional recurring invoices in Xero, you can also keep track of when they are opened. - Value For Money
Xero reduces your upfront business costs with free upgrades and access for an unlimited number of users all at an affordable monthly fee.
- At-A-Glance Dashboard
With just one click, you can see your bank balance, invoices, bills and expense claims, without having to log onto various websites. - Automatic Bank Reconciliation
Xero imports and categorizes you latest bank, PayPal and credit card transactions so reconciliation is just one click away.
