Accountants and Tax Specialists for Lawyers in Canada

As specialized accountants and tax specialists for lawyers in Canada, we help you focus on your work. We take the accounting off your plate and the tax savings back in your pocket. Whether you’re a sole practitioner, partner at a law firm, or own your own boutique law practice, we help you save tax through tax planning including salary vs dividend planning, income splitting, and getting back your GST/HST.

We will you stay compliance with law society regulations and can integrate tools you already use like Clio or LEAP. Your books, trust accounting reconciliations, and financial results are always up to date.

Expert Accounting and Tax Support for Lawyers

Are you a lawyer in Canada spending too much time on your finances and paying too much tax? We specialize in providing top-notch services to lawyers, ensuring that everything from basic bookkeeping to financial statements is taken care of and that your taxes are kept to a minimum. Our team is made up of chartered professional accountants (CPAs) who have a deep understanding of the legal industry, so you can trust that your records and data are in good hands.

At CoPilot Tax, we pride ourselves on offering transparent pricing, accurate and efficient bookkeeping, and customized reports and filing for both corporate and personal tax returns. Our goal is to make your life easier by handling all the accounting and taxation tasks for your law firm, so you can focus on what you do best—providing the best legal representation and solutions to your clients. We see you as more than just a client or file number—you’re a trusted friend, and we strive to provide unique tax plan tailored to to you and your practice.

We also specialize in trust accounting, which can be confusing and complicated for those who aren’t familiar with it. Our team has the expertise to help you manage your own trust funds, so you can have peace of mind that everything is taken care of. We also offer assistance in improving operational efficiencies, so you can spend more of your billable hours on your law practice. On top of all this, our team is well-versed in the taxation rules that apply to the legal industry in Canada and can help you find tax relief. We can also provide advisory services such as estate planning and year-end tax planning, as well as help you with buying or selling capital assets. Reach out to us today to discover more about how we can assist you.

At CoPilot Tax, our team of experts can help you with all aspects of business and tax planning, including incorporation. Whether you need general business advice or specific tax guidance, we have the expertise to support you. We can also assist with the setup of your legal practice.

Services Tailored for Lawyers:

Tax Planning

We just just prepare tax returns for lawyers. We understand your goals and explore different ways to save you tax. Whether it be maximizing deductions, getting the right structure in place, or finding the right mix of salary and dividends.

Tax Return Preparation

Let us take care of your tax returns so you don't have to think about it.

Bookkeeping and trust accounting

The Law Societies for Ontario, Alberta, and British Columbia all require certain law firms to reconcile their trust accounts every month. We make sure you're compliant in case your ever get audited.

GST/HST

Many lawyers don't realize that they can get back the GST/HST they pay on expenses. WE'll take care of your sales tax filings so that you don't need to worry about it.

Financial insights and CFO services

Are you just getting financial statements without any guidance on how to grow or become more profitable. This is where we can come in to help you scale.

Tailored services for all types of lawyers

Sole practitioners: Streamlined bookkeeping, GST/HST filings, and help with trust accounting.

Incorporated partners: Structuring compensation, planning for your retirement, and income splitting.

Law firm owners: Advice on cash flow, partner draws, staffing costs, and optimizing your business.

Our tax services include:

Corporate tax return (T2) preparation

Sole proprietor tax return (T1) preparation

Helping structure your Law Professional Corporation

Tax planning

Holding company structuring

HST return preparation

Salary vs. dividend planning

Tax minimization and tax relief

Whether you are an experienced professional, a partner at a law firm, or just starting your own practice, we have the expertise to support you. Contact us today to learn more about how we can help.

Tax Specialists for Lawyers in Canada

As tax experts for lawyers in Canada, we at CoPilot Tax understand the specific challenges and potential risks facing legal professionals when it comes to tax compliance. Our extensive experience working with clients in the legal field has given us insight into what can trigger a tax audit by the Canada Revenue Agency and how to minimize any tax burden in the event of an audit.

Located in convenient locations in the Canada, our team of highly skilled and educated professionals can assist with all your tax and accounting needs. We are committed to providing ongoing support for the financial management of your practice, ensuring that the books are closed, staff are paid on time, and cash flow is effectively managed. Contact us today to learn more about how we can help you.

Accounting Services for Lawyers

At CoPilot Tax, we specialize in providing accounting services for lawyers. Our team of accounting experts has the skills and knowledge to handle the complex accounting and tax needs of law practices. We are equipped to assist with tax filing, business management, and any other accounting services you may require.

If you are in need of accountants to support you, don’t hesitate to contact us. Our team is ready to provide the expertise and support you need to succeed. Contact us today to learn more about how we can help.

Get in Touch

Chat with our team of experienced professionals at CoPilot Tax to learn how we can help you save on your taxes.

Frequently Asked Questions (Accountants for Lawyers)

1. Why should lawyers work with accountants who specialize in law firms?

Lawyers face unique accounting and regulatory requirements that most general accountants don’t deal with:

Trust accounting compliance: The Law Society of Ontario (By-Law 9) and similar provincial rules require strict monthly reconciliations and audit-ready records. Mistakes can put your license at risk.
Professional corporations: Lawyers must incorporate under special provincial rules (e.g., Business Corporations Act, Ontario – s.3.2). An accountant with legal industry experience understands how to structure PCs and holding companies for tax efficiency.
Tax strategies for lawyers: Specialists know how to balance salary vs. dividends, apply TOSI rules, and consider special GST/HST considerations for lawyers.
Integration with legal software: Accountants familiar with Clio and LEAP can seamlessly tie your billing and trust data into your bookkeeping and financial reports.

2. Do lawyers in Ontario need monthly trust account reconciliations?

Yes. Under the Law Society of Ontario By-Law 9 (s.18), every lawyer who handles client funds must complete monthly trust reconciliations and keep supporting documentation. Annual filing of Form 9A is also required.

3. What software can help lawyers with trust accounting?

Many law firms use Clio or LEAP to manage client billing, trust ledgers, and compliance. At CoPilot Tax, we integrate directly with these platforms to ensure your trust accounting matches law society rules and your financial statements.

4. Should lawyers incorporate their practice?

Often, yes. A Professional Corporation (PC) can help lawyers save tax, *potentially* split income with family members (subject to TOSI rules under the Income Tax Act), and benefit from succession planning in the future. Incorporation isn’t right for every lawyer, but it can be very advantageous once earnings exceed personal living needs.

5. How are lawyers taxed in Canada?

Sole practitioners: report income on a personal T1 return, paying tax at marginal rates (unless they incorporate).
Incorporated lawyers: file a corporate return. Income can be paid out as salary or dividends.
Partners in firms: taxed on their share of partnership income.

6. Do lawyers charge GST/HST?

Yes. Under the Excise Tax Act, most legal services in Canada are subject to GST/HST. For Ontario lawyers, the HST rate is 13%. Certain services, like family law cases involving child support, may be exempt.

7. What accounting records must lawyers keep?

Law societies across Canada require lawyers to maintain:

General account records
Trust ledgers and trust reconciliations (monthly)
Deposit slips and canceled cheques
Client billing records and fee agreements

These must generally be kept for a minimum of six years.

8. How can an accountant help lawyers reduce taxes?

Accountants can:

Optimize salary vs. dividends mix
Set up and structure professional corporations or holding companies
Maximize deductions (home office, professional dues, CPD costs, tech tools)
Ensure compliance with CRA and law society rules
Plan long-term for retirement, succession, and sale of the practice

9. When should a lawyer meet with their accountant?

At minimum:

Monthly: to review trust accounts, bookkeeping, and cash flow
Year-end: for tax planning and filings
Before major changes: e.g., incorporation, hiring staff, or purchasing office space

10. What’s the difference between an accountant for a sole practitioner vs. a law firm owner?

Sole practitioners: need help with tax filings, trust reconciliations, and GST/HST compliance.
Incorporated partners: benefit from advanced tax planning, income deferral, and dividend optimization.
Law firm owners: require payroll, partner draw structures, multi-partner planning, and succession strategies.