plan for whats ahead
Accounting and Tax Planning for Atlanta Law Firms
Keep client funds organized, gain clarity on your firm’s finances, and plan ahead for partner taxes with accounting support built for Atlanta law firms.
How should a law firm handle trust (IOLTA) accounting?
Maintain a separate record for each client’s trust funds, documenting every deposit, disbursement, and balance. Keep client funds separate from operating funds so each transaction is easy to trace.
Reconcile the trust bank account, client ledgers, and trust account records regularly. Review and resolve differences promptly to keep records accurate and current.
unique hurdles
What tax planning applies to law firm partners?
Law firm partners benefit from year-round tax planning that accounts for changing income and firm distributions. Reviewing projected earnings throughout the year can help partners adjust estimated payments and avoid surprises. A CPA can also assess whether the firm’s business structure still fits its ownership and tax goals.
How should a law firm track case costs and client advances?
What We Do for Law Firms
Monthly Bookkeeping and Financial Statements
Keep transactions organized and review timely reports that show how the practice is performing.
Trust Account Reconciliation
Reconcile trust records and account activity to help identify discrepancies promptly.
Case Cost Tracking
Assign expenses to the appropriate matters for clearer cost reporting.
Client Advance Tracking
Monitor advances and reimbursement status by matter so balances remain visible.
Payroll for Attorneys and Staff
Coordinate payroll records for attorneys and employees with the firm’s accounting.
Budgeting and Cash Flow Forecasting
Plan for operating expenses and anticipate changes in available cash.
Tax Planning for Firms and Partners
Assess tax decisions throughout the year for the practice and its partners.
Tax Returns for Firms and Partners
Prepare firm and partner returns using organized financial records.
CFO Support for Growing Firms
Ongoing Financial Insight
Use regular financial reviews to understand revenue, expenses, and the trends shaping your practice.
Practical Budgeting
Build a budget around staffing, overhead, and growth priorities to guide spending decisions.
Cash Flow Forecasting
Anticipate upcoming obligations and shifts in collections so you can plan with a clearer view of cash needs.
Forward-Looking Planning
Evaluate financial options as your firm grows, from adding team members to investing in operations.
Your CPA
Curtis J. Johnson, CPA
Atlanta consultations by appointment
Related Services
Tax Planning & Advisory
Plan ahead for the firm’s tax obligations and the decisions that affect its owners.
Outsourced Accounting
Keep your books current with ongoing accounting support and clear financial reporting.
S Corp & Entity Selection
Evaluate entity options and S corp considerations as your practice grows.
IRS Representation
Get experienced guidance when your firm needs to respond to an IRS notice or inquiry.
Get Your Firms Books in Order
Discuss your law firm’s accounting needs with Curtis and schedule a consultation to explore the next steps.