Industry Expertise
Law Firms
Financial reporting and tax services for legal practices.
Our Experience
Law firms operate with specific regulatory requirements around trust accounting that separate them from other professional services businesses. Client funds must be held in trust and accounted for separately. Partner distributions, work-in-progress valuation, and annual billing reconciliation all require accounting expertise that goes beyond general-purpose practice.
Services We Provide
- Bookkeeping and Write-ups
- Financial Reporting and Compilation
- Corporate Tax (T2)
- Personal Tax (T1)
- Tax Advisory and Planning
Common Issues
The Challenges Law Firms Businesses Face
Trust account compliance requires strict segregation and regular reconciliation
Work-in-progress valuation and revenue recognition is complex for contingency and hourly billing
Partner buy-ins, buy-outs, and distributions require careful tax and legal coordination
Provincial Law Society reporting requirements overlap with financial reporting
Growing practices face the classic question of incorporation timing and structure
How We Help
What You Can Expect From Us
Trust account reconciliation and compliance reporting
Financial statements structured to meet Law Society requirements
Partner distribution tracking and income splitting advice
Work-in-progress accounting and year-end accrual procedures
Corporate structure advice for incorporated legal practices
Work With a Firm That Knows Law Firms
We work with corporations across Canada, subject to the scope of the engagement and the client’s specific circumstances. Request a consultation and let us show you what we can do for your business.