Accountant for Lawyers in Toronto
As a
n accountant for Lawyers in Toronto, Wei CPA offer a wide range of accounting tax and advisory services affordable with the highest quality. We understand the requirements from the Law Society of Upper Canada, law firms are required to maintain appropriate internal controls to effectively manage the operations. In particular, the accuracy of the trust account and safeguard of the trust funds. We manage all of the accounting and taxation needs that most lawyers often require. From an accounting perspective, we are capable of managing everything from basic bookkeeping to preparing financial statements with various levels of assurance, as per our client’s needs.
- Financial statements compilation
- Financial statements review
- Financial statements audit
Accounting, Bookkeeping, Payroll, and Advisory Services for Lawyers:
As an accountant for Lawyers in Toronto, Wei CPA is well equipped to ensure that your books are being completed in accordance with The Law Society of Upper Canada’s stringent requirements. Trust accounting can be rather confusing and complicated for those who are not specialized in this area of bookkeeping. As such, we have dedicated bookkeepers who specialize in working with lawyers; thus they are well versed with the specific rules and most commonly used software to ensure that our client’s bookkeeping is done correctly, accurately and in a timely manner.
- Professional corporation creation and structuring
- Practice acquisition advisory
- Practice sale accounting and advisory
- Monthly or quarterly bookkeeping, payroll, and GST/HST and etc.
- Financial statement compilation
Tax Services for Lawyers:
As an accountant for Lawyers in Toronto, Wei CPA provides our clients with the highest level of service with respect to all their tax needs. Whether you are a sole proprietor who is looking to file a personal income tax return, a member of a partnership or have an existing Professional Corporation, we can help you with all your taxation needs. Our tax professionals work with many lawyers and help manage this side of their business. We know the appropriate tax rules that apply to the legal industry in Canada and can ensure our clients are not paying any more tax than they should.
- Legal professional corporation tax return (T2) preparation
- Sole proprietor Lawyer tax return (T1) preparation
- Tax planning for practice acquisition and sales
- Holding company structuring
- Salary vs. dividend consideration
- Income and capital tax minimization
Part-time Controller Services for Law firms:
As an accountant for lawyers, we also provide Part-time controller services to help you set up internal control procedures, accounting systems, oversee financial reporting and business operating plan and so forth.
- Streamlined business processes systematically
- Improved the effectiveness of internal controls to reduce risks in financial reporting and safeguard of assets
- Business plan , operating budget , capital budget and financial analysis on the performance of operations and the result of cash flows