Law Firm Accounting & Tax Services
Your Firm Handles The Law.
We’ll Help Handle the Numbers.
Running a law firm creates accounting and tax issues that many businesses never face. From trust accounting and client costs to partner compensation, tax planning, and year-end filings, Sharp Tax & Accounting provides virtual accounting and tax support designed around the way law firms operate.
Accounting built for the business of law.
Law firms need more than accurate books. Your accounting system has to distinguish client funds from firm funds, properly track costs and reimbursements, support tax reporting, and give you a clear picture of how the firm is performing.
Sharp Tax & Accounting helps law firms bring bookkeeping, tax preparation, and planning together so the financial side of the practice stays organized throughout the year.
Law firm and owner tax return preparation
Quarterly estimated tax planning
Partner and owner compensation planning
Entity and year-end tax strategy
Monthly bookkeeping and account reconciliations
IOLTA and trust-account bookkeeping support
Financial statement preparation and review
QuickBooks Online cleanup and maintenance
Richard is very competent and knowledgeable about tax law and lawyer trust accounting. He is reliable, trustworthy, and has been a huge asset for my business. I know my books and taxes will be done timely and correctly. I recommend his services for other small law offices.
— Jennifer Scarborough, Law Firm of Jennifer Scarborough ★★★★★ Google Review
Keep Your Firm’s Finances as Organized as Your Cases
Accurate books and thoughtful tax planning designed around the way law firms operate.
Law Firm Bookkeeping Resources
When a client pays legal fees and filing costs in the same transaction, it can be easy to treat the whole payment the same way. In Minnesota, that can be a mistake. Here’s how filing-fee advances should generally be handled and why they may belong in IOLTA even when the legal fee does not.