WS+B Industries

Law Firms

Check out the results of our 2014 NJ Top 50 Law Firms Benchmarking Survey
Our Services to Law Firms

WS+B understands the unique challenges you face when running a law office. In addition to traditional accounting, auditing, and tax planning and compliance services, we can assist you in maximizing operating efficiency and maintaining a profitable practice.

Our customized services include:

  • Law firm profitability analysis
  • Budgeting and forecasting
  • Operations review
  • Cash flow management
  • Internal control review
  • Information systems consulting
  • Financing assistance
  • Pension and profit sharing plans
  • Partner compensation plans
  • Business succession planning

For years, WS+B has been assisting attorneys both in the office and in the courtroom. Our law firm clients range in size from sole practitioners to multi-location regional practices in the New Jersey/Pennsylvania/New York area. In addition to our law firm management services, we provide a full range of litigation services to support your client needs and put your firm in a position of strength.

Litigation Fund Administration

WithumSmith+Brown, PC offers a full range of services related to Litigation Fund Administration, including Joint Defense Groups and Municipal Settlements. Our specialists currently serve as trustees for over twenty litigation funds and oversee the administration of these funds. Click here for more information.

Proposed Changes in Congress Could Affect Law Firms

Law firms with over $10 million in revenue need to be aware of two proposals in Congress that may fundamentally change the way income is reported for federal tax purposes. Currently, most large law firms use the cash method of accounting, but new proposals would force taxpayers with gross receipts greater than $10 million to use the accrual method of accounting. Such a change in accounting method would force law firms to accelerate the recognition of taxable income.

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