Accounting for Legal Professionals and Law Firms

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Accounting for Legal Professionals and Law Firms

As an attorney, you have so many balls in the air such as managing client matters, marketing your firm, ensuring CLE is met, staff development, cash flow and more. Why worry about Accounting for your Law Firm when you can outsource all of that to Interactive Accountants. When it comes to accounting for law firms, we pride ourselves on understanding all tax and accounting matters related to law firms. Law firm accountants should understand that one error in your trust account could cost you your license to practice. At interactive Accountants, we understand this and perform a 3-way trust reconciliation every month, where as most other accounting law firms don’t want to deal with it. Accounting for Law Firms should not be left to just any old accountant, but rather placed in the hands of a partner that has years of experience in working with law firms. Accounting law firms should also be licensed, just like you and at Interactive Accountants, we are a licensed CPA firm, not just some internet bookkeeping firm. Accounting law firms should also have to abide by ethical standards, just like you and Interactive Accountants being a CPA firm and member of the AICPA takes that code of ethics to heart. Accountants for law firms should also be someone that truly cares about being a professional and at Interactive Accountants, all our staff are trained and mentored to do that. Just check out our podcast episode that speaks to this very topic!

Taxes for Law Firms

At Interactive Accountants we’re not just accountants for law firms, we know the best tax deductions for you and your firm (read our article about Tax planning for Legal Professionals and Attorneys). Through education and experience, we tailor a plan to fit your budget and lifestylethat allows you to take advantage of all allowed tax deductions and credits. Ever hear of a law firm taking advantage of the Work Opportunity Tax Credit? Well we’ve actually done it! Accounting law firms should also take advantage of using the latest technology to help your firm be audit-proof and at Interactive Accountants, our tech stack uses todays latest apps. Accounting law firms also need to also understand the value of your time, so at Interactive Accountants we provide mobile apps to help you accomplish this. Accounting for legal professionals isn’t rocket science, but tech is always involved here at Interactive Accountants. Accounting for lawyers means minimizing your taxes and measuring your success here at Interactive Accountants.

Ready to take the next step?

So, are you interacting with your current accounting law firms? If not, give us a call and see what the Interactive Accountants experience can bring you. We promise you’ll be satisfied just like our current clients. Just check out our reviews on Google or Facebook. We stand behind our work, just like you do! At Interactive Accountants, accounting for lawyers is our specialty. Don’t just trust your accounting and tax matters to any old law firm accountants, ask us for references, we’re happy too shoot those off to you!

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