Berdon’s professionals bring a unique perspective to our law firm clients. That’s because our team includes experienced CPAs, as you would expect, as well as attorneys. Because of the fusion of the legal and accounting disciplines at Berdon, we have a keen insight into law firm operations and the mind of the attorney. This perspective makes us an invaluable ally to the law firms we service.
With more than 80 years of experience advising law practices, we’ve worked with boutique to multinational firms on day-to-day practice issues and long-term strategic planning. With our comprehensive array of services, we’re a single resource for advising on the situations you face.
Taxation — Knowledge Everywhere You Operate
- Nationally respected team: Many attorneys as well as CPAs
- Dedicated state and local tax group: Fluent in tax laws governing all 50 states
- International tax experts: Versed in overseas laws, rules, and operations
- Personal tax advisors: Individualized tax, estate, and trust planning for individual partners
Running a Tight Operation
- Internal controls: Plug holes in your control environment and reduce exposure in such areas as escrow accounts and T&E
- Operating expenses: Realize savings in cost centers — payroll, administration, rent, technology
- Leases: Negotiate office leases, scrutinize rent escalations, perform lease audits, evaluate lease/buy options
- 401(k) and other retirement plans: Help you meet fiduciary obligations and avoid personal liabilities
Building a Financially Secure Environment
- Capital planning: Formulas agreeable to partners that deliver the finances you need
- Cash flow: Procedures to enhance realization rates, billing practices, and fee arrangements
- Financing: Relationships with lenders to assist with the negotiation of favorable credit terms and bank covenant
Management Advice — Not Just What Works, But What Works for You
- Mergers and laterals: Identify candidates, perform due diligence, coordinate the intake
- Partnership agreements: Evaluate the tax and financial impact, including capital requirements
- Compensation: Review current compensation plans for partners and employees to see if they meet firm goals and can be sustained, and suggest alternative arrangements
- Retirement plans and death benefits: Recommend options that fit your firm
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