Accounting and Tax Advisory for Legal and Professional Services

Understand your firm's profitability while keeping funds and obligations properly separated.

Industry Challenges

Addressing your organization's priorities

Recording fees and receivables based on your contracts and accounting method.

Separation and reconciliation of third-party funds under applicable professional rules.

Recording payroll and reviewing contractor payments and Forms 1099.

Analysis of expenses by service and projection of estimated tax payments.

Answers to Your Questions

Are advance payments always income?

Not necessarily. Treatment depends on the agreement, restrictions, and applicable accounting method.

Must client funds be kept separate?

Yes. Where required, client funds must be distinguished from the firm's operating resources.