Accounting For Attorneys
Focus on winning cases, not chasing numbers. Our legal-savvy CPAs streamline law firm accounting with our law firm bookkeeping solutions, freeing you to maximize billable hours and profitability.
CPAs with experience in the legal industry
Attorney Trust Account (IOLA) Reconciliations
Services Offered
Efficient bookkeeping and accounting systems
Profitability analysis and cash flow management
Trust accounting compliance (IOLTA rules)
Tax planning and preparation
Law firm budgeting and forecasting
Financial reporting and partner compensation calculations
Accounting for Law Firms
- Financial forecasting for legal cases and firm growth. - Budgeting strategies specific to legal practice areas. - Cash flow management during fluctuating case loads. - Strategic financial planning for law firm expansion. - Managing partner and associate compensation structures. - Financial analysis of client retainer agreements. - Overseeing trust account compliance and management. - Implementing cost-effective legal research tools. - Streamlining billing and collection processes. - Risk assessment for large case investments. - Financial oversight of client settlement funds. - Monitoring and managing overhead costs. - Investment strategies for firm reserves. - Guidance on legal tech investments. - Financial scenario planning for litigation outcomes. - Developing financial policies for ethical compliance. - Analyzing profitability by -practice area. - Planning for capital expenditures and office expansions. - Structuring financial partnerships and alliances. - Advising on financial implications of regulatory changes.
Law Firm Accounting Services
- Advising on investments in specialized legal areas. - Guiding financial decisions during mergers and acquisitions. - Developing strategies for competitive billing models. - Financial analysis of potential lateral hires or partnerships. - Navigating financial challenges in complex litigations. - Strategic planning for diversifying practice areas. - Identifying opportunities for cost savings in operations. - Evaluating financial feasibility of pro bono cases. - Decision-making support for technology upgrades. - Financial guidance in managing cyclical revenue streams. - Crafting financial strategies for client development. - Analyzing the impact of economic trends on legal services. - Budgeting for legal marketing and client acquisition. - Risk management for multi-jurisdictional practices. - Planning for financial implications of legal compliance. - Overseeing financial aspects of client trust fund operations. - Guiding investments in staff training and development. - Financial insights for international expansion. - Balancing financial risks and rewards in high-stakes cases. - Fiscal management of legal research and case expenses.
Bookkeeping Services for Law Firms
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Focus on billable hours vs. bookkeeping
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Complex trust accounting regulations
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Managing overhead costs
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Partner compensation structures
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Tracking client funds
Explore the best law firm accounting software options available on the market
We'll delve into key features, benefits, and considerations to help you make an informed decision. Whether you're a solo practitioner or a large law firm, this article will provide valuable insights to optimize your financial management.
Faulisi & Company CPAs LLP
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Addresses
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Manhasset, NY 11030
10124 99th Street
Ozone Park, NY 11416