Atlanta Legal Staffing  Firm Accounting

Criminal Law Firm Bookkeeping & Tax Planning

Some criminal lawyers start out thinking that they can manage their criminal law firm bookkeeping and tax planning on their own. Soon, they realize that they need the help of a qualified criminal law firm accountant to help them establish a working criminal law firm accounting system.

Criminal law firm bookkeeping gives you a clear idea of how well your law firm is performing. It provides you with accurate information you can use to determine what the next steps for you’ll need to do to grow your criminal law firm.

Difference Between Criminal Law Firm Bookkeeping

Criminal law firm bookkeeping and tax planning are both crucial functions in organizing your criminal law firm. These terms are often used interchangeably, but they are actually two different things. With bookkeeping, you are plainly recording the financial transactions of your business. Writing down client payments, vendor billings, and client payouts are some examples of bookkeeping activities.

Accounting, on the other hand, is a broader service than bookkeeping as it goes beyond the recording of these transactions. Criminal law firm accounting also involves the interpretation, analysis, classification, and reporting of business financial transactions. Criminal law firm tax planning is also an accounting activity.

The Unique Challenges Of Law Firm Tax Planning

Growing criminal law firms need an excellent criminal law firm accountant to help them with their tax planning. Planning your taxes can reduce the risk of incurring tax assessments from the Internal Revenue Service. It also removes the stress caused by rushing to file your tax returns.

There are several platforms out there, such as QuickBooks Online, that can help your criminal law firm stay on top of your tax prep throughout the year. Our experienced criminal law firm CPAs can use your records form these platforms to determine your expected tax dues in the future. We also consider other factors, such as:

  • The number of owners your law firm has

  • The type of financing you offer

  • The physical location of your practice

  • The type of entity you have filed with the IRS as

As a criminal law firm owner, you are likely familiar with the expenses that are associated with owning a criminal law firm. The tax ramification of these expenses can be challenging to manage when you’re busy handling dozens of clients every day. Some examples of how these expenses can affect your taxes include:

  • Your Home Office: Regardless of which part of your home you use for your office, you can deduct a percentage of the home expenses. These can include utilities, mortgage, rent, etc. To qualify for this, you, however, have to use your home exclusively and regularly for business.

  • Professional Fees: You can deduct from your law firm’s taxes the professional fees that you pay an accountant to help prepare your taxes for the year. Expenses for other professionals are also tax-deductible.

  • Office Furnishings: It is vital to keep your law firm looking nice if you want to gain the trust of your clients. Fortunately, costs in purchasing a beautiful desk, chairs, and other furnishings are tax-deductible.

  • Other deductions include things like costs for communication, education, travel, and more.

Our team of experienced criminal law firm CPAs provides CFO advisory services to criminal law firms like yours in the Atlanta area and throughout the US. Our law firm financial advisers can also help you get the best out of criminal law firm accounting platforms like QuickBooks Online for your bookkeeping and accounting needs. Furthermore, we can help you identify ways to increase revenue and improve your cash flow. You can learn more about our services by clicking the button below to schedule a complimentary discovery call today!


This blog article is not intended to be the rendering of legal, accounting, tax advice or other professional services. Articles are based on current or proposed tax rules at the time they are written and older posts are not updated for tax rule changes. We expressly disclaim all liability in regard to actions taken or not taken based on the contents of this blog as well as the use or interpretation of this information. Information provided on this website is not all-inclusive and such information should not be relied upon as being all-inclusive.