Category: Professional Services

Cash versus Accrual Method of Accounting – How potential legislation would affect Professional Service companies.

Congress has considered tax reform proposals that would require many professional service firms to move from the cash method to the accrual method of accounting for income tax purposes. Such a change would impose new financial burdens on professional service firms and their partners/shareholders – including a large, unexpected tax liability. Most professional service firms […]

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Parlaying the Power of Paralegals

by Jim Wagoner, CPA | Partner, Director of Professional Services Team Law firms across the United States remain under clouds of economic uncertainty, making some attorneys eager to keep busy and prove their worth. Sometimes, though, these attorneys are undermining firm profitability by doing work that’s better left to paralegals and creating a ripple effect […]

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