Anchin’s Law Firm team has deep experience in the legal industry, allowing us to tap into this extensive knowledge to offer customized guidance when you require it the most. Legal practice management software is a specialized tool designed to help law firms streamline their operations, manage client information, and ensure efficient case management. This software integrates various functions such as document management, billing, time tracking, task management, and client communication in an end-to-end platform. Minimize risks and maintain integrity with trust accounting support designed exclusively for law firms. We provide the tools and expertise necessary to manage IOLTA compliance seamlessly, protecting both your clients and Bookkeeping for Law Firms your practice.
Tax Savings Strategies for Attorneys
Extract actionable insights from complex data sets to inform both big decisions and day-to-day operations with the advanced cloud analytics tools in Elite’s Data Management solution. CosmoLex integrates with popular tools like Google Calendar and Microsoft Outlook, as well as other popular legal business services. View our integrations page for more information on what common tools CosmoLex can integrate with.
Should Your Business Switch to Accrual Accounting? A Practical Decision Guide
Settlement funds pass through trust accounts without VAT application; only the firm’s professional fees are taxed. We provide actionable insights into your firm’s financial performance, helping you make informed decisions to improve profitability and efficiency. Managing unpredictable cash flow and lengthy revenue cycles can be one of the biggest pain points for legal practices. Effective financial management ensures your firm collects and manages payments efficiently, enabling steady operations and sustainable growth.
Trust Accounting & IOLTA Compliance Support
Plus, whether you’re a solo attorney or part of a large legal team, these services scale to meet your needs—providing high-level financial expertise without the expense of a full in-house team. You didn’t spend years going to law school to be a legal accountant. At Gurian CPA, we have developed a niche in tax and accounting services for law firms. Our customized, unique formula for the legal industry has been tried and tested to show success. Working with us will free you from the tedious accounting and bookkeeping tasks that are straining your time and resources. We are fully equipped to handle all of your law firm accounting responsibilities and provide the reliable financial data and advice you need to make smart business decisions for your practice.
- We track contributions, distributions, and draw schedules, offering clear insight into how profits are shared — and how to optimize them.
- We are dedicated to providing white-glove service through the law firm’s subscription.
- B2B legal fees subject to e-invoicing requirements from January 2027 (preparation in 2026).
- Attorneys and staff can track leads from first contact through to signing, and see exactly where there’s room to grow.
Those who master the art of marketing their AI advantage will win the next era of professional services. No, legal services in the UAE are generally standard-rated at 5% VAT with very few exceptions. Most legal work including consultations, court representation, contract drafting, and advisory services attracts 5% VAT. The only potential exceptions might be in specific Free Zones with different regulations, but in mainland UAE and most free zones, legal services are standard-rated.
CosmoLex’s end-to-end platform is designed to meet industry regulations, with built-in audit trails and document management features that support compliance. Our dedicated in-house team provides free onboarding, training, and ongoing support. We are dedicated to providing white-glove service through the law firm’s subscription. Don’t take our word for it, read case studies from CosmoLex customers here. Follow this systematic approach for compliant and accurate law firm financial management. Legal fees attract 5% output VAT; input VAT on expenses is recoverable.
Financial Reporting
Our Law Firm Group consistently demonstrates initiative that goes well beyond the expected. We are passionate about client service and are enabled by a structure that allows us to provide exceptional leadership attention to our Law Firm clients. We excel at crafting solutions to complex problems and distilling them into readily understandable communications and efficient strategies. Our proactive engagement ensures that you feel fully supported in implementing the customized solutions we offer to address your specific challenges and needs. As The Accounting Firm for Law Firms®, Anchin Accounting has been unwavering in our dedication to provide customized services that are specifically tailored to the legal industry. Our team of legal accountants recognizes the individuality of every firm, and we specialize in ensuring our approach is personalized for optimal guidance and support on a firm-by-firm basis.
This CLE for in-house counsel explores ethical challenges in advising corporations, including multijurisdictional practice, confli… Supercharge your team with embedded expertise honed at Big Law, the Fortune 500, and high-growth startups. Make getting paid the easiest part of your job with intuitive time-tracking and convenient payment options.
Amplify your team with elite legal talent, minus the elite fees.
Get a 360-degree view of your law firm’s prospective client pipeline. Attorneys and staff can track leads from first contact through to signing, and see exactly where there’s room to grow. Law firm partnerships in UAE are generally treated as pass-through entities for corporate tax purposes. This means the partnership itself doesn’t pay tax; instead, each partner pays tax on their share of the partnership’s income. However, the partnership must still register for corporate tax, file returns, and provide partners with the information needed for their individual tax obligations.
Leave a Reply