Legal professinals
Accounting and bookkeeping services for lawyers
Lawyers consistently rank as being among the busiest professionals, so it makes sense you don’t always have time to manage your books. At John Gillani, CPA, we have years of experience offering accounting services for lawyers, and supporting law firms with our tax advice and professional strategies.
Personal Taxes
When you work with someone who knows what you’re allowed to claim, the line between personal and business deductions becomes clear. Our expertise with those in the law profession means we file your taxes accurately and in a way that’s most beneficial to you and your practice.
Here’s what’s included:
- T-1 Individual Income Tax Return
- T-2125 Statement of Self-Employed Earnings
Incorporation
Determining whether to incorporate as a lawyer is a big decision and one you should consider carefully. There are pros and cons to incorporating, but it’s challenging to decide what to do when the process seems overwhelming.
It’s not uncommon for lawyers to delay incorporating because it looks complicated, but they may miss out on potential benefits while they wait. We have proven experience with incorporation and are here to guide you through the process from beginning to end with ease.
Here’s what’s included:
- Setup of a Law Professional Corporation with the Law Society of Alberta.
- NUANS Name Search
- Articles of Incorporation
- Initial Return Filing
- Setup of accounts with the CRA (RC – corporate tax, RP – payroll, RT – GST/HST, RZ – dividend)
Corporate Tax Filing
Incorporated professionals such as lawyers must file an annual corporate tax return with the CRA. We handle the process for you, so you can focus your attention on other vital matters.
Here’s what’s included:
- T-2 Corporate Income Tax Return
- Issuance of tax slips
- T-4 (Employment)
- T-5 (Dividends)
- Compilation of financial statements – Notice to reader
- Advice and guidance on eligible tax write-offs
- Unlimited ongoing accounting and business support to answer your questions throughout the year
- Year-round representation with the CRA
Bookkeeping services for lawyers
The day-to-day tasks working in law are enough to keep you constantly going – don’t get bogged down with your books on top of everything else. We use technology to streamline your processes and rely on our vast experience providing bookkeeping services for lawyers to give you the best possible guidance. You can get back to your business while we handle your numbers.
Here’s what’s included:
- Monthly bookkeeping services
- Monthly reporting of trial balance and P&L
Start with a free no-obligation consultation to discuss the specific needs of your law practice with us and how our bookkeeping and accounting services for lawyers in Toronto and Mississauga will help your law firm thrive.