While laws and regulations continue to evolve at an unprecedented pace, our extensive knowledge and expertise are two constants you can rely upon. Our law firm go to market team is positioned to help attorneys and their firms plan for the future with our specialized accounting, tax and consulting services.
Partnership audit regimes
Following the requirements of the 2018 Jobs and Tax Act – assisted a law firm with the process of electing a partnership representative, with identifying responsibilities contractually, and updating partnership agreements to minimize the impact of tax liabilities for the individuals and the entity.
Interest expense limitation
Assisted a law firm to determine if they were limited in their in real estate interest deductions and explained the potential impact on individual partners.
Revenue recognition
Examined client contracts to determine when revenue should be recognized for book purposes under the new ASC 606 standard and for tax purposes under 451.
Opportunity zones
Discussed opportunity zone investments, showed advantages, and discussed potential disadvantages.
Partnership agreements
The impact of partnership agreements on the individual partner’s finances.
Tax services
Management Services