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CPA Services for Law Firms in New Jersey
We Make Numbers Work for You
At Demian & Company, LLC, we provide law firms with full-service accounting, tax, and advisory solutions tailored to the legal profession. Whether you're managing trust accounts, allocating partner income, or structuring a new practice, you can rely on us to deliver the clarity, compliance, and confidence your firm needs to grow.
Our New Jersey-based CPA firm has supported attorneys from solo practices to multi-partner firms for three decades. We help legal professionals stay compliant, reduce tax liability, and focus on what matters most: their clients.
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Boutique CPA Firm
Excellence delivered with exceptional service.
30+ Years of Experience
Building wealth for accomplished clients since 1995.
Custom Solutions for Individuals and Businesses
Because your goals deserve more than one-size-fits-all.
Specialized CPA Services for Legal Practices
Whether you're running a solo practice or managing a multi-partner firm, your accounting partner should understand the legal industry's financial demands. That's why our CPA services are built specifically for New Jersey law firms — precise, compliant, and strategic.
Tax Services for Law Firms
Navigate complex tax requirements with strategies designed specifically for legal practices. Our tax services for law firms ensure compliance while maximizing available deductions and credits.
- Tax Planning
Strategic year-round planning to minimize tax liability and optimize your practice's tax position.
- Tax Preparation
Professional preparation of partnership, corporate, and individual returns for attorneys and legal practices.
- IRS Representation
Skilled representation during audits, disputes, and tax resolution matters.
- Multi-State Compliance
Navigate complex multi-state tax obligations for practices operating across jurisdictions.
- Partnership Tax Planning
Specialized strategies for law firm partnerships and profit-sharing arrangements.
Accounting Solutions for Legal Practices
Accurate, compliant accounting is essential for law firm success. At Demian & Company, LLC, our accounting services for law firms ensure your financial records meet professional standards while providing insights for strategic decision-making.
- Trust Account Management
Compliant management and reporting for client trust funds.
- Outsourced CFO Services
Strategic financial leadership for growing practices.
- Bookkeeping
Precise daily financial management and transaction recording.
- Financial Reporting
Comprehensive monthly and annual reporting for partners and stakeholders.
- Payroll Services
Complete payroll processing, including attorney draws and staff compensation.
- Business Formation
LLC and S-Corp formation for new practices and restructuring.
Advisory Services for Legal Professionals
Beyond accounting and taxes, we offer strategic advisory services that help New Jersey law firms optimize operations, plan for growth, and make informed financial decisions. Here’s how we can help.
- Practice Management Advisory
Operational insights to improve efficiency and profitability.
- Business Advisory
Strategic guidance for practice expansion, mergers, and succession planning.
- Cash Flow Management
Optimize billing, collections, and financial operations.
- Technology Advisory
Implement accounting and practice management technology solutions.
- Succession Planning
Strategic planning for practice transitions and retirement.
Turn Your Practice into a Growth Engine
Most law firms leave money on the table through inefficient billing, poor cash flow management, and missed growth opportunities. Our advisory services help law firms in New Jersey and beyond optimize operations, improve collections, and scale confidently.
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Legal Practice Areas We Serve
Our CPA services for law firms extend across all areas of legal practice. We understand the unique financial requirements and opportunities within different specialties.
Personal Injury & Contingency Fee Practices: Specialized accounting for contingency fee management, case cost tracking, and settlement fund handling.
Corporate Law Firms: Complex transaction accounting, M&A advisory, and business restructuring support.
Family Law Practices: Trust fund management, retainer accounting, and financial reporting for domestic relations cases.
Real Estate Law Firms: Escrow account management, closing fund handling, and real estate transaction accounting.
Criminal Defense Practices: Retainer management, case cost tracking, and compliance with criminal defense fund handling requirements.
Estate Planning Attorneys: Trust administration, estate accounting, and specialized reporting for fiduciary responsibilities.
Think of us as an extension of your firm, providing financial strategy and support that adapts to your unique practice area and evolves with your practice.
Our Proven Process for Law Firm Success
We help New Jersey law firms strengthen compliance, streamline finances, and unlock growth with our step-by-step process:
1. Practice Assessment
We begin with a comprehensive review of your firm's current financial systems, compliance status with New Jersey requirements, and growth objectives to identify opportunities and requirements. This includes evaluating your trust account procedures, tax planning effectiveness, and identifying areas where you may be losing money or facing compliance risks.
2. Customized System Design
We leverage your practice's specific needs to design accounting systems and processes that ensure compliance while supporting your business objectives. Our tailored solutions integrate with your existing workflows while establishing proper controls and reporting structures.
3. Implementation & Training
Our team implements new systems and trains your staff on best practices, ensuring smooth transitions and ongoing compliance. We provide hands-on training for your entire team, from attorneys to administrative staff, ensuring everyone understands their role in maintaining accurate financial records.
4. Ongoing Support & Monitoring
We provide continuous monitoring, regular reporting, and proactive advisory to keep your practice financially healthy and compliant. You'll receive regular financial reports and have direct access to your CPA team for questions and strategic guidance as your practice evolves.
Client Success Stories:
Why Law Firms Trust Us
Serving Law Firms Across New Jersey and Nationwide
Located in Cranford and East Brunswick, New Jersey, we proudly serve legal practices throughout New Jersey and across the United States. Thanks to our secure digital systems, we can provide comprehensive CPA services regardless of your location.
Cranford Office
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340 North Avenue East Cranford, NJ 07016-21825.svg)
(908) 272-4452East Brunswick Office
65 Milltown Rd
East Brunswick, NJ 08816(732) 790-0955
Get Started with Specialized Legal Accounting
Your law practice deserves accounting services that understand the legal profession. Demian & Company's specialized CPA services for law firms in NJ provide the experience, compliance, and strategic insight your practice needs to thrive.
The right CPA doesn't cost you money; they save it, usually in the first year, while ensuring your practice remains compliant and profitable.
FAQs About Law Firm Accounting
in New Jersey
How much do CPA services cost for law firms in New Jersey?
The specific price depends, however, our law firm accounting services typically cost less than what we save you in taxes and efficiency improvements. Pricing varies based on firm size and complexity, but most New Jersey attorneys see a positive return in the first year. Contact us for a customized quote based on your practice's specific needs.
What are the IOLTA requirements for New Jersey attorneys?
New Jersey attorneys must maintain Interest on Lawyers Trust Accounts (IOLTA) per NJ Court Rules. This includes proper segregation of client funds, detailed record-keeping, monthly reconciliations, and annual reporting. We ensure full compliance with all IOLTA requirements.
What makes law firm accounting different from general business accounting?
Law firms have unique requirements, including trust account management, specific regulatory compliance (ABA Model Rules), complex partnership structures, contingency fee accounting, and specialized reporting requirements that general accountants often don't understand.
How do you ensure trust account compliance?
We take compliance incredibly seriously. We implement systems that properly segregate client funds, maintain detailed records, provide regular reconciliations, and ensure all trust account activities comply with state bar regulations and professional conduct rules.
Can you help with multi-state tax compliance?
Absolutely. We help law firms navigate complex multi-state tax obligations, including state income taxes, franchise taxes, and professional licensing requirements across all jurisdictions where you practice.