Tax Challenges for Law Firms: Advanced Client Costs, IOLTA Accounts, Partner Allocations, Retirement Plans
A live 110-minute CPE webinar with interactive Q&A
This webinar will review accounting and tax issues specific to law offices. Our panel of tax reporting professionals will discuss identifying and recording advanced client costs, Interest on Lawyer Trust Accounts (IOLTA), income recognition, retirement contributions, and other specific tax requirements of legal professionals. They will offer advice to minimize overall taxes paid while adhering to numerous guidelines specific to these service providers.
Outline
- Taxation of legal practices
- IOLTA accounts
- Advanced client costs
- Retirement plans
- Income recognition
- Attorney expenses
- Tax reporting issues
- Other considerations
Benefits
The panel will cover these and other key issues:
- Recognizing and deducting advanced client costs
- Complying with the constructive receipt doctrine for income recognition
- Minimizing overall taxes paid by the firm and its partners
- Reporting retirement plan contributions by partner
- Administering IOLTA funds
Faculty

Jeff Laufman, CPA
Manager
Armanino
Mr. Laufman is a manager in the Armanino Law Firm Services Group, where he is dedicated exclusively to working with law... | Read More
Mr. Laufman is a manager in the Armanino Law Firm Services Group, where he is dedicated exclusively to working with law firms and attorneys. He works with his clients to maximize profits, minimize taxes, and increase operational efficiencies. Among the ways Mr. Laufman does this for his clients is through his deep industry knowledge and insights which allow him to advise on rates, compensation, proper staffing, and other key drivers of law firm profitability. He also has significant expertise with buy-out and retirement planning issues as they specifically pertain to law firms.
Closeto be announced.
Early Discount (through 04/07/23)
CPE credit processing is available for an additional fee of $39.
CPE processing must be ordered prior to the event.
See
NASBA details.
Cannot Attend May 3?
Early Discount (through 04/07/23)
CPE credit is not available on downloads.
CPE On-Demand