Focus on what counts

Law Firms

Focused on the Business of Law

The practice of law is your firm's focus. Ours is to help you get the best financial results from it. From tax and accounting issues to practice management our team is focused on helping you achieve your goals.  At Citrin Cooperman, we understand the complexities of managing and growing a successful practice. For over 35 years, we have assisted law firms in achieving their goals, by working with them on tax minimization strategies, securing financing, driving profitability, strategizing merging and laterals, structuring partner compensation, and implementing effective practice management tools.

An ever-fluctuating economic environment consistently presents law firms with challenging financial issues including: 

  • Fee pressures
  • Attracting and retaining top talent
  • Rapidly-advancing technology
  • Partner and associate compensation
  • Risk management
  • Practice succession
  • Growing firm profitability and improving efficiencies

How Citrin Cooperman Can Help

Citrin Cooperman focuses on law practices with a mission to provide our clients with actionable advice and entrepreneurial solutions which will enable them to navigate today’s challenging economic environment. We build strong relationships with our clients allowing us to develop the critical insight necessary to advise them on their unique needs. This enables us to identify and deliver services that help them achieve their strategic organizational objectives.

Serving hundreds law firms our professionals strategically assist in planning for the future by providing extensive practice management services, compensation planning, merger and lateral strategy and integration, financing, and many other value-added services to complement our core accounting, tax, and business advisory services.

OurRelated Services

Law Firm Assurance

We take a collaborative approach in planning our attest services. Examining approach, and level of assurance, as well as strategizing needs, often produces the best results and is most cost effective


Law Firm Tax

In addition to our core federal, state and local, and international tax services, our professionals also provide a range of custom tax compliance and consulting services to our law firm clients, including:

  • Profits interests
  • IRC Sec. 754 decision making
  • Capital planning
  • Tax considerations in escrow accounts
  • Expense capitalization considerations for client reimbursement

 

Law Firm Advisory

Citrin Cooperman’s law firm practice management services are focused on techniques that will drive your bottom line, transforming the way you execute your practice’s mission every day.

Guiding Four Phases of Mergers & Acquisitions and Laterals:

  • Planning
  • Structuring and negotiating
  • Execution (including Quality of Earnings Reports)
  • Implementation

Revenue Cycle Strategy:

  • Developing profitability drivers, including utilization and realization
  • Creation of individual partner productivity matrix
  • Billing alternatives
  • Revenue cycle and cash acceleration
  • Review and improve efficiency of billing procedures

Risk, technology and governance:

  • Enterprise risk management
  • Escrow account review
  • Practice governance
  • Internal controls
  • Technology

Financial Strategies and Support Services:

  • Compensation planning
  • Managing practice niches
  • Succession planning
  • Qualified and non-qualified retirement and deferred compensation arrangements
  • Health insurance and benefits consulting
  • Business plans
  • Operational assessments