Accounting & Tax Services for Law Firms in Philadelphia

A busy practice leaves partners no time to be the firm’s accountant — and law firm finances punish inattention more than most. Trust accounting errors carry disciplinary consequences, partner compensation raises tax questions every quarter, and contingency-fee income makes planning genuinely hard. We handle law firm finances with something few accounting firms offer: our founder is a practicing attorney, so we speak your language.

Trust & IOLTA Accounting

Client funds must be held and tracked under Pennsylvania’s IOLTA program and the Rules of Professional Conduct enforced by the Disciplinary Board. We maintain trust ledgers with monthly three-way reconciliation — bank balance, trust ledger, and individual client ledgers in agreement — so your records are always exam-ready.

Partner Compensation & Entity Structure

Draws, guaranteed payments, K-1s, and self-employment tax planning for partnerships — plus entity analysis when the firm’s structure no longer fits its size. We model the options before you change anything.

Uneven Income, Steady Planning

Contingency practices can see a year’s revenue arrive in one settlement. We plan estimated taxes, retirement contributions, and expense timing around that reality — so a great verdict doesn’t become a brutal tax bill.

Full Back Office for the Firm

Beyond the specialty work, we run the firm’s routine finances: bookkeeping, payroll for associates and staff, accounting, and tax preparation for the firm and its partners.

Frequently Asked Questions

Do you reconcile existing trust account problems?

Yes — cleanup engagements that rebuild trust ledgers and reconcile to the bank are common starting points for new law firm clients.

Can you prepare partners’ personal returns too?

Yes, and it’s usually better that way: the firm return and partner returns are interdependent, and one preparer keeps them consistent.

Talk to a firm that knows both sides of your practice: call (215) 914-6929 or contact us.