Running a legal or conveyancing practice is a niche business. Much like any business, your legal and conveyancing practice needs an accountant who understands the nuances of your industry and the unique challenges you face in your business. With increased competitive pressures and shifting client expectations, it’s harder now to find the right balance between providing legal services and running a small business.
At Platinum Accounting & Taxation in Melton, we specialise in accounting for law firms and conveyancers. Since 2009, we’ve worked with law firms and conveyancing businesses across all facets of financial accounting. From established law firms to small start-ups, our award-winning accountants have helped countless businesses, just like yours, achieve incredible growth and success.
Like you, we understand that technical expertise counts. We’re serious about accounting, but we’re also easy-going, accessible and approachable. Our friendly team works hard to ensure that every interaction you have with Platinum Accounting is smooth, stress-free and efficient.
Startup advice for lawyers, law firms and conveyancers
Here at Platinum Accounting & Taxation, we’re experts in both the startup space and the legal profession. We know what it takes to get a new professional practice running. We’ve built our own professional practice from the ground up and we can help you fast-track your dream with minimal fuss – and maximum financial support.
As a lawyer or conveyancer, your core business is selling your legal advice and expertise. Running a profitable legal practice encompasses a range of other skills including finance, marketing and cash flow management. As a small business owner, you must embrace these skills as well as contend with business overheads costs, human resource costs and tax obligations. It’s critical to manage your money closely. Our accountants work with you to create a practical budget, as well as strong cash flow strategies, to ensure the flow of funds is sufficient while you’re getting started. Plus, if you need finance for equipment, an office fit out or even to bridge a temporary lull in cash flow we can connect you with a lending specialist at our Melton office.
The legal profession is highly competitive, so if you’re just starting out, an experienced business accountant can mean the difference between success and failure.
Here’s an overview of the startup advice we provide for lawyers, law firms and conveyancing businesses:
- Determine the best business structure for your legal or conveyancing practice
- Create actionable business and marketing plans
- Set up strong cash flow management systems
- Provide effective strategies to protect your assets and legally minimise tax
- Advise on profitable product and service pricing strategies
- Offer ongoing support and business coaching to help you grow
Accounting services for lawyers and conveyancers
Optimal structuring of a legal professional practice at the outset is important. It avoids the need for a restructure and considers possible future events such as bringing in new partners and ensuring your legal professional practice is an attractive asset to a prospective buyer. Your business structure should also enable you to comply with the ATO’s professional firm benchmarks to avoid ATO audit and review activity.
Business structure and startup advice is just the beginning at Platinum Accounting. We offer the full scope of accounting, taxation and bookkeeping services. From essential services like GST, BAS and tax return preparation, all the way through to complex tax minimisation strategies and ATO benchmarking guideline compliance, we’ve got you covered. Here are some of our key accounting services for lawyers, law firms and conveyancing businesses:
- Business accounting
- Cloud bookkeeping (we love Xero)
- Tax compliance and advice
- Tax return preparation
- BAS preparation, GST advice
- Payroll, superannuation and FBT
- Cash flow forecasting
- Business structure advice
- Business succession planning
- Business coaching
Affordable, fixed-fee accounting packages
To make budgeting easier, Platinum Accounting offers a range of value-packed, fixed-fee packages for lawyers, law firms and conveyancing businesses. Our business accounting packages and cloud bookkeeping packages are popular with lawyers, law firms and conveyancers, as they’re affordable, comprehensive and payable monthly. That means no surprises when it comes to price.
Prefer to pay for individual services? No problem at Platinum Accounting. We’re here for you when you need us.
Get started today
Get in touch with our team to talk about our accounting services for lawyers, law firms and conveyancing businesses. Our office is based in Melton, but we work with lawyers, law firms and conveyancing businesses right across Melbourne, including Bacchus Marsh, Brookfield, Eynesbury, Deer Park, Gisborne and Caroline Springs.