Law firm accounting involves compliance requirements, partnership structures, and trust account management that most CPA firms aren’t equipped to handle. Ours is.
IOLTA trust accounting, partner draw structures, contingency fee timing, client cost reimbursements, and multi-state nexus for multi-office practices — these are the issues that separate a law firm accounting specialist from a generalist CPA.
We serve law firms ranging from solo practitioners to mid-size litigation and transactional practices. Our partners understand bar compliance requirements, the financial structure of equity and non-equity partnerships, and the tax implications of different billing and collection structures.
Schedule a Consultation →Michael has worked extensively with professional services firms, including law practices. He understands partnership structures, billing economics, and the specific compliance requirements that govern law firm finances.
Florida attorneys are required to maintain IOLTA (Interest on Lawyer Trust Accounts) accounts for client funds, perform three-way monthly reconciliations, and maintain detailed records of all trust transactions. Bar audits can occur at any time. We help firms establish and maintain compliant trust accounting systems.
It depends on your state bar requirements, partner count, income levels, and long-term succession goals. Florida allows several business structures for law firms. We analyze the tax and liability implications of each and recommend the structure that fits your specific situation.
We help firms design compensation structures that are transparent, defensible, and aligned with firm strategy. When disputes arise, we can provide financial analysis and modeling to help partners evaluate different allocation scenarios objectively.
Schedule a free conversation. We’ll match you with the right partner and tell you exactly how we can help.