Tax Planning Services for Law Firms

The professionals in our team have offered customized tax planning and advisory services for more than 15 years to professional service firms across the United States, including attorneys. We support you year‑round to make tax time painless. Our services include:

• Optimal Entity Structure Advisory: We assess if your current structure (LLP, LLC, PC, S‑Corp, etc.) is most tax‑efficient for your situation. For example, many small firms benefit from electing S‑Corp status to reduce self‑employment taxes on a portion of profits. We also assess whether restructuring or elections, such as Pass‑Through Entity tax elections, may save you thousands.
• Multi-State Tax Compliance & SALT Strategies: We ensure full jurisdictional compliance for firms practicing across multiple states or domiciled in high-tax regions. We implement SALT and PTE tax workarounds, when possible, to bypass the federal state-tax deduction cap.
• Monthly/Quarterly Estimated Tax Planning: We project taxable income throughout the year and calculate quarterly estimates to avoid penalties, allowing for smooth cash flow management.
• Deduction Optimization: We review all expenses to ensure every allowable deduction is taken, from office rent to staff salaries, to malpractice insurance, research tools, CLE, travel, client meals at allowable rates, and anything in between.
• Retirement Plan Selection & Contribution Strategies: We establish and optimize retirement plans like Solo 401(k)s, SEP‑IRAs, SIMPLE IRAs, and 401(k)/profit‑sharing plans. These plans reduce taxable income while building long‑term wealth.
• Income and Expense Timing Strategies: Whether accelerating expenses or deferring income, we assist you in timing financial decisions so as to minimize your tax liability by using projections and cash vs. accrual basis accounting.
• Depreciation & Capital Asset Planning: We ensure intelligent use of Section 179, bonus depreciation, and cost segregation strategies to maximize deductions on office property, equipment, and software.
• Partner Compensation & Profit Allocation Planning: We assist multi-owner firms to optimize salaries vs. distributions, partner draws, guaranteed payments, and allocation methods to minimize payroll taxes in coordination with IRS compliance.
• Year-Round Tax Monitoring: We monitor changes in tax law, perform mid-year financial reviews, and proactively adjust strategies to ensure no opportunities are ever overlooked.