Who we help · Professional Services

Bookkeeping for Twin Cities professional services.

Law firms, consultants, agencies — billed by the hour or the engagement, paid on net-30 (or net-60, or net-whenever). We handle the books so cash flow doesn't surprise you in a slow month.

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Common things we see

What your books actually need.

Receivables

AR aging that tells the truth.

When a big share of your revenue is sitting in receivables, you need to see who’s overdue and by how much. We keep AR aging current so a slow-paying client doesn’t quietly become a write-off.

Owner pay

Salary or guaranteed payments — done right.

How you pay yourself depends on your entity. An S-corp owner needs a reasonable salary before distributions; partners take no salary at all — they take guaranteed payments and draws, with self-employment tax to plan for. We keep whichever one you are clean and documented.

QBI

The deduction that phases out.

Law, consulting, accounting, and financial firms are “specified service” businesses, so the 20% qualified-business-income deduction phases out as income climbs — and disappears above the IRS threshold. We watch the line so income and retirement timing don’t quietly cost you the deduction.

Profitability

Which work actually pays.

Hours billed and dollars collected aren’t the same number. We tie revenue to the matter or engagement so you can see which work is actually profitable — and which client is eating your team.

Which package fits

Most professional services owners we work with start with Books + Tax.

Professional services live and die on the AR cycle, and the same person needs to watch cash coming in (collections), cash going out (owner pay), and the year-end picture — the QBI phase-out, estimated taxes, retirement. Books + Tax is built for that — one engagement, one person, no handoff.

Books + Tax

Full-year bookkeeping plus annual tax filing — one person, one bill.

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Often paired with

Related services on the menu.

Bookkeeping

Clean books behind the return.

Monthly bookkeeping that ties to the business return — the same person watching both, no end-of-year surprises.

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Business tax returns

The return that closes the year.

Schedule C, 1120-S, 1065, or 1120 — filed by the same person who kept your books all year.

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Tax planning

Plan in October, file in March.

Year-end planning, S-Corp election analysis, retirement strategy, and owner-pay timing — before the year closes.

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What clients say

Recent reviews, live from Google.

5.0

33 reviews

Mark Magelssen

3 months ago

I've worked with Tasha on my taxes for multiple years - she does both my personal and business taxes. She does a fantastic job - super communicative, detail-oriented, and awesome to work with. I can't say enough good things about Accounting Lions!