🔧 Industry Expertise

Accounting & Tax Solutions for Legal Professionals

From solo attorneys to multi-partner law firms — we handle the books, taxes, and compliance so you can focus on your clients and cases. Trusted by legal professionals across the U.S.

Expert Financial Guidance for Attorneys & Law Firms

Legal professionals face a distinct set of financial and tax challenges that go beyond what most general accountants are equipped to handle. From managing trust accounts and client retainers to navigating partner distributions, contingency fee income, and multi-state filings, attorneys and law firms require an accountant who truly understands the legal industry.

At Volkan & Associates Inc., we work with solo practitioners, small firms, and multi-partner law practices to keep their finances organized, compliant, and tax-efficient. Whether you’re just starting your practice or managing a growing firm, we provide year-round support so you can focus on the law — not the books.

Personalized Accounting & Tax Solutions

Our Services for Legal Professionals

Business & Personal Tax Preparation

Accurate federal and state tax returns for solo attorneys, law firm partnerships, LLCs, and professional corporations.

Bookkeeping & Trust Account Reconciliation

Clean monthly financials with proper IOLTA trust account tracking — keeping your books bar-compliant and audit-ready.

Payroll Services

On-time payroll for your staff and associates — including W-2 filings, quarterly payroll taxes, and year-end reporting.

Tax Planning & Partner Distributions

We structure partner draws and distributions to minimize your overall tax burden — both at the firm and personal level.

Retirement & Wealth Planning Strategy

Maximize tax-deferred contributions through SEP-IRA, Solo 401(k), or defined benefit plans tailored to your income level.

IRS Representation & Tax Debt Resolution

Facing an IRS audit or notice? As an Enrolled Agent, we represent you before the IRS and work to resolve matters efficiently.

Why Legal Professionals Choose Volkan & Associates

IRS Enrolled Agent with Full Representation Authority

We represent you in all IRS matters — not just file your return. When issues arise, we stand with you.

Industry-Specific Knowledge

We understand IOLTA rules, contingency fee taxation, law firm structures, and the financial nuances of legal practice.

Year-Round Support, Not Just Tax Season

From monthly trust account reconciliation to quarterly estimated filings, we support your practice every month of the year.

Affordable, Transparent Pricing

Clear, upfront rates with no surprise fees — professional accounting support that fits within your firm's budget.

Frequently Asked Questions

Funds held in a client trust account (IOLTA) are not your income until earned — they must be kept completely separate from your operating accounts. Only when fees are earned and transferred to your operating account do they become taxable income. Improper trust account handling is one of the most common bar compliance issues for attorneys. We set up and reconcile your accounts to keep everything clean and compliant.
The right structure depends on your state's rules for legal entities, your number of partners, and your tax goals. Many solo attorneys operate as single-member LLCs with an S-Corp election to reduce self-employment taxes. Multi-attorney practices often use LLPs or professional corporations. We evaluate your specific situation and recommend the most tax-efficient and legally appropriate structure.
Contingency fees are taxable as ordinary income in the year they are received or constructively received. If a large settlement creates a significant income spike, we can implement strategies — such as retirement contributions or deferred compensation — to reduce the tax impact. Planning ahead of settlement is key, and we work with you proactively throughout the year.
Yes. Solo practitioners and self-employed attorneys can deduct a wide range of business expenses including a dedicated home office, bar association dues, CLE courses, legal research subscriptions, malpractice insurance, and business-related travel. We ensure you're capturing every legitimate deduction while keeping documentation IRS-ready.

Ready to Get Started?

Schedule Your Free Consultation

ell us about your legal practice. We'll build a tax and accounting plan tailored to your firm structure, income type, and long-term goals.

Free Consultation

Speak with an IRS Enrolled Agent about your contractor tax and accounting needs — no obligation.

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Our Tax & Accounting Services

Why Legal Professionals Choose Volkan & Associates

Whether you’re just starting out or managing a multi-crew operation, we have the right plan for you.