Services for lawyers,
as a LAW CORPORATION or SELF-EMPLOYED
Establishing a practice
- Business plan - budget
- Structuring a practice - incorporating, partnership, office
sharing
- Partnership - setting up, joining, buy-in, partnership agreement, profit sharing, escape provisions
- Law Corporation
Accounting
- Annual budget
- Computerized accounting systems, specializing in QuickBooks
for lawyers
- Bookkeeping - monthly, quarterly, annual
- Financial statements - monthly, quarterly, annual
Taxes
- Payroll - salary structures and benefits, registration,
withholding, payroll services, T4
- GST - fees, disbursements, returns
- PST - fees, disbursements, returns
- Dealing with Canada Revenue Agency (“CRA”)
Selling a practice
- Retirement planning
- Tax implications
LAW CORPORATION
- Tax planning and structure
- Financial statements
- T2 corporate tax return
- T5 Statement of Dividend Paid
- T4 Statement of Remuneration Paid
SELF-EMPLOYED INDIVIDUAL
- Deductions for home office and business use of auto
- Statement of business income
- T1 personal tax return
TRUSTS
- Trust accounting
- Trust audits
- Tax planning
- Family Trust
- T3 trust return
- T3 supplementary and summary
