Accounting & Tax Services for Law Firms in Ontario

Now Offering 15% Off for New Law Firm Clients – First Year Only

Running a law firm requires precision, discipline, and strict compliance—not only in legal practice, but also in accounting, tax planning, payroll administration, and regulatory reporting. Law firms operate in a highly regulated professional environment where financial accuracy and compliance are essential.

Momentum Accounting CPA Professional Corporation specializes in accounting and tax services for law firms and legal professionals across Ontario and Canada. Our services are specifically tailored for lawyers, law professional corporations, and multi-partner law firms, ensuring alignment with CRA requirements, CPA professional standards, and Law Society expectations.

To support newly established and growing law firms, we are pleased to offer 15% OFF professional fees for new law-firm clients in their first year of engagement.

Why Law Firms Choose Momentum Accounting CPA?

Law firms face unique accounting and tax challenges that general accounting firms often overlook. These include professional corporation rules, partner and shareholder remuneration, retainers, payroll compliance, and industry-specific reporting obligations.

At Momentum Accounting CPA Professional Corporation, we understand the legal industry’s operational and compliance needs and provide accounting solutions that are practical, compliant, and professionally sound.

We work with:

• Sole practitioner law firms
• Law professional corporations
• Multi-partner and associate-based firms
• Boutique and growing legal practices

Our services are designed around law-firm operations, including partner drawings, capital accounts, retainers, payroll obligations, and CRA compliance, while maintaining confidentiality and professional integrity.

Our Specialized Accounting Services for Law Firms

Law Firm Bookkeeping & Financial Reporting

Accurate financial records are essential for law firms to meet professional and tax obligations. We provide:

• Monthly and year-end bookkeeping services
• Preparation of financial statements (ASPE / IFRS where applicable)
• Partner capital, shareholder loans, and drawings tracking
• Expense categorization optimized for law-firm operations

Corporate & Personal Tax Services for Lawyers

We assist lawyers and law firms with compliant and strategic tax planning, including:

• Corporate income tax returns (T2) for law professional corporations
• Tax planning for professional corporations
• Salary vs. dividend remuneration planning
• Personal tax returns for partners and shareholders

All tax services are delivered in accordance with the Income Tax Act and CRA administrative guidance.

Payroll & CRA Compliance for Law Firms

We manage payroll obligations efficiently and accurately for law firms, including:

• Payroll processing for lawyers and staff
• T4 and T4A preparation and filing
• CRA payroll remittances and reconciliations
• Year-end payroll compliance support

This applies to associates, paralegals, legal assistants, and administrative staff.

GST/HST & Regulatory Support

Most legal services in Canada are subject to GST/HST. We assist law firms with:

• GST/HST registration and setup
• Ongoing GST/HST filings and reconciliations
• CRA correspondence and audit support
• Advisory on billings, disbursements, and taxable supplies

15% First-Year Discount for New Law Firms

To make professional accounting services more accessible, new law-firm clients receive 15% OFF professional fees.

Discount details:

• Valid for the first year of engagement only
• Applies to accounting, tax, and compliance services
• No compromise on confidentiality, independence, or compliance

Ideal for:

• Newly incorporated law firms
• Lawyers switching accountants
• Law firms seeking industry-specific CPA expertise

Frequently Asked Questions – Accounting for Law Firms in Canada

Do law firms need a specialized accountant in Canada?

Yes. Law firms have distinct tax, payroll, and professional corporation requirements that differ from other businesses. Working with a CPA experienced in accounting for law firms in Canada helps reduce compliance risk and improves financial clarity.

Do you handle accounting for law professional corporations?

Yes. We provide comprehensive accounting and tax services for law professional corporations, including:

• Corporate tax filings (T2)
• Shareholder remuneration planning
• Partner drawings and capital account tracking
• Year-end financial reporting

Do law firms charge GST/HST on legal services?

In most cases, yes. Legal services are generally taxable supplies for GST/HST purposes. We assist with GST/HST registration, filings, and CRA correspondence, based on applicable legislation.

Do you provide payroll services for law firms?

Yes. We manage payroll processing, T4 and T4A filings, and CRA remittances for lawyers and law-firm staff.

Is the 15% discount compliant with professional standards?

Yes. The 15% first-year discount is fee-based, transparent, and not tied to outcomes, referrals, or guarantees, making it compliant with CPA professional conduct rules.

Serving Law Firms Across Ontario

We provide accounting and tax services for law firms in:

• Toronto
• Mississauga & Peel Region
• Hamilton
• Across the Greater Toronto Area (GTA)

We also offer secure, cloud-based virtual accounting services, allowing law firms across Ontario to work with us efficiently and remotely.

Contact Momentum Accounting CPA Professional Corporation

📞 Phone: 905-869-0000

📧 Email: info@momentumaccountingcpa.ca

🌐 Website: www.momentumaccountingcpa.ca

👉 Contact Momentum Accounting CPA Professional Corporation today to claim your 15% first-year discount and work with a CPA firm that understands the unique accounting and tax needs of law firms.