Accounting for lawyers in London
Law firms carry trust accounting obligations, WIP and disbursements, and partner draws, on top of the usual corporate books. In London, taxifi handles it online: books current every day, filings on time, and a Canadian accountant reviewing and signing every file.
CRA EFILE authorized · Every file reviewed by an accountant · Switching is free — about an hour of your time
Lawyers in London, books handled
London, Ontario supports a broad base of professional practices, trades, and health businesses that benefit from current books and included year-end tax.
For lawyers specifically, taxifi covers the work below as part of one flat monthly price, with Ontario’s HST, WSIB, and Employer Health Tax handled inside the service:
- Corporate bookkeeping (kept separate from trust accounting)
- Disbursement and WIP tracking
- Payroll for staff and associates
- HST returns prepared and filed
What we take off a London law firm’s plate
Operating books, kept off your trust account
Trust accounting has its own Law Society rules; we keep your firm's operating and corporate books current and coordinate cleanly with your trust records.
WIP and disbursements
Work in progress and disbursements are tracked so revenue reflects the work actually done and billed.
Associate and staff payroll
Payroll runs on schedule with source deductions to CRA on time and T4s ready at year-end.
Why London lawyers choose taxifi
London runs on anchors — healthcare, the university, insurance — and serves as the commercial hub for much of southwestern Ontario. It is a steady market rather than a speculative one, where businesses build on repeat customers and reputation, and where a surprise tax bill hurts precisely because everything else was predictable.
For London's lawyers, the day-to-day reality is trust obligations, work-in-progress, and bookkeeping the Law Society expects to be immaculate. taxifi's AI keeps the books current every day and a Canadian accountant reviews and signs the filings, so the operating books stay clean and the trust records stay untouchable.
Common questions
Can I practise through a professional corporation?
Ontario lawyers can practise through a professional corporation under Law Society rules, with share ownership generally restricted to licensees — and whether it is worth doing depends on how much income you can afford to leave in the corporation. For a London practice, that is a calculation from your real numbers, and it is the kind of advisory taxifi includes rather than bills by the hour.
How is my work-in-progress taxed?
For most professionals, the old ability to exclude work-in-progress from income has been phased out — WIP is now generally brought into income as it accrues, valued under the current rules. Practically, that means unbilled time isn't invisible to tax, and a firm that tracks WIP monthly plans for it while a firm that doesn't meets it at year-end as a surprise.
Is taxifi actually available in London, or just the biggest cities?
Fully available — taxifi is online-first, so a London clinic or contractor gets exactly the same daily bookkeeping, payroll, HST, and T2 service as a Toronto one, at the same kind of flat monthly price. No office visit exists to miss.
I already have a bookkeeper or accountant in London. How hard is switching?
The switch is free: we deal with your current provider directly, collect your file and history, and take over the monthly work. Any catch-up is scoped and priced before you commit. Your part is about an hour, and mid-year is fine.
Your London law firm, books and taxes handled
One flat monthly price for incorporated Ontario businesses, quoted live on a short call.
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