Tax & Accounting Solutions for Law firm
We have experience servicing several law firms in Sydney with their Tax & Accounting Solutions.
We have set up business structures for new lawyers entering into business. We have also helped law firms re-structure their practice with the aim of admitting new partners and acquiring other firms.
The key challenge we Often see in this sector is re-structuring a business which from its start-up phase have flourished into a partnership of several legal practitioners. It is common for lot of legal start-ups often starts as a sole-trader or a common company structure, but as the business grows and matures, the initial structure is often not sustainable for tax and risk management perspectives. We can assist with re-structuring.
You might think, how is accounting for lawyers any different from accounting for other professionals? For example, our understanding of how partnerships work enables us to give strategic, actionable insights to help you maximize the commercial potential of your firm, as well as stay steady from a future point of view. We also offer services in business advisory for law firms to support you in your work. Our accountants also help you watch out for and avoid some of the most common tax mistakes made by lawyers, so that you never need to stress about this aspect. We also are known as Accountant for Lawyers.
All consultations are confidential, especially when we are dealing with sensitive information in legal accounting sector.
Our Services for Law Firms & Practices
Australian Tax Specialists provide a number of tax accounting services that are unique for law practices. Our team is highly qualified in all aspects of tax and accounting services, and we pride ourselves in being able to complete all the complex tax and accounting matters for a Legal practice.
• Start-up Business and structure advice
• Buying or Selling a medical practice ? We provide valuation service to help with your purchase or sale.
• Setup cloud based Accounting system for your practice. XERO Accounting Systems.
• Ongoing Accounting Service
• Monthly Business Analysis – is your business profitable and accompanying advice
• Annual Tax Preparation
• Tax Planning
Australian Tax Specialists understands the requirements of a successful Legal practice, and we provide above comprehensive service to make your life easier.