Accounting for lawyers in Ontario
Law firms carry trust accounting obligations, WIP and disbursements, and partner draws, on top of the usual corporate books.
CRA EFILE authorized · Data stored in Canada · Every file reviewed by an accountant
taxifi · Lawyers
This month
- Bookkeeping Current
- Payroll & source deductions Filed
- HST Filed
- Year-end tax (T2) On track
The problems we take off your 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.
Your professional corporation
The corporate T2 is handled and your accountant plans how you draw from the firm.
What’s included
One flat monthly price for incorporated Ontario lawyers. Everything below is in it.
- Corporate bookkeeping (kept separate from trust accounting)
- Disbursement and WIP tracking
- Payroll for staff and associates
- HST returns prepared and filed
- Year-end corporate tax (T2), included
| Area | A typical setup | With taxifi |
|---|---|---|
| Your books | Weeks or months behind | Current every day |
| Year-end (T2) | A spring scramble, billed extra | Included, no surprise invoice |
| Your accountant | Metered by the hour | Unlimited questions, flat monthly |
Common questions
Do you do my trust accounting?
Trust accounting has its own Law Society rules and software; we keep your firm's operating and corporate books current and coordinate cleanly with your trust records.
Do you work with incorporated firms and professional corporations?
Yes. Incorporated practices are a core fit.
Books and taxes for your law firm, done
One flat monthly price for Ontario businesses, scoped on a discovery call.
Book a discovery call