Restoring Confidence and Financial Clarity for a Leading Northeastern Law Firm

EisnerAmper created a lasting relationship with a leading Northeastern-based law firm by resolving complex accounting challenges, restoring financial accuracy, and uncovering significant annual tax savings.

Client

A respected, mid-sized Northeastern law firm known for its litigation and business law practices approached EisnerAmper in late 2021. The firm had long enjoyed a reputation for delivering meticulous legal work, but internally, its financial operations were unclear and struggling to meet deadlines. After years of relying on another accounting provider, the firm’s books had become disorganized, and leadership was losing confidence in the reliability of its financial data.

As part of its broader experience supporting law firms and other professional services organizations, EisnerAmper understands the financial and tax complexities unique to partnership-based legal practices.

The firm needed a partner who could not only explain the financials, but also help them regain control, restore trust among partners, and build a more resilient foundation for the future.

Challenge

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Reconciliation Issues

When EisnerAmper’s Client Accounting Services (CAS) was first brought in, they uncovered significant challenges. The firm’s financial records were incomplete and unreconciled, making it difficult to prepare timely and accurate filings for both individual and firm taxes. Bank accounts hadn’t been reconciled in months, and unrecorded transactions were found during the process.

Rising Concerns

What began as a bookkeeping need quickly revealed deeper operational pain points that needed to be addressed. The internal accounting staff lacked the technical expertise to manage the firm’s complex, multi-state financial picture, and the leadership team received conflicting information about the firm’s position.

As the tax deadline neared, partners became worried about the possibility of filing extensions combined with the uncertainties around the accuracy of their own income allocations. In short, the firm needed both technical knowledge and continued guidance to help navigate a difficult transition and help restore confidence and accuracy in their books.

How EisnerAmper Helps

Approach

EisnerAmper began by sending in its CAS team to perform a detailed diagnostic review of the firm’s accounting software and financial records. The team had to familiarize themselves with an unfamiliar accounting system, trace missing reconciliations, and determine where prior entries had gone wrong.

Over several months, the team rebuilt the firm’s financials from the ground up—reconciling accounts, correcting data errors, and reestablishing a reliable financial foundation through every number. While this was a long process and required extreme detail, the CAS team persisted, and their technical skills quickly restored structure and clarity.

As the engagement continued, EisnerAmper recognized that internal resources were part of the challenge. The firm’s controller at the time lacked the necessary training and bandwidth to manage the work effectively. EisnerAmper advised leadership on staffing needs and helped recruit a qualified controller—who remains in place today.

Throughout the process, the team maintained frequent communication with firm leadership, emphasizing collaboration, calm problem-solving, and proactive guidance.

Ongoing Strategic Support

Once the firm’s books were stable, EisnerAmper expanded its support to include:

Tax compliance and planning:

Preparation of entity, individual and partner-level returns by EisnerAmper to align with tax deadlines and regulation requirements for timely and accurate fillings.

Education and advisory:

Meetings with partners to explain book vs. tax income, income allocations, and depreciation strategies.

Financial assurance:

Introduction of reviewed financial statements to enhance reporting and transparency.

Results

Today, the law firm operates with greater financial clarity and confidence. Within months, the firm’s financial systems were no longer a source of stress but a foundation for strategic decision-making. With clean books and timely filings, leadership gained the confidence and visibility they needed to manage the business proactively.

EisnerAmper’s efforts led to:

Accurate and timely financial reporting.
Improved internal processes and oversight.
Annual tax savings for the firm and its partners of approximately $200,000 through implementation of the Pass-Through Entity (PTE) tax election.

What began as a short-term accounting engagement evolved into a long-term advisory partnership built on trust, responsiveness, and results. EisnerAmper now provides ongoing client accounting, tax, and reviewed financial statement services to the firm. Many of its partners have also engaged EisnerAmper to complete individual and family tax services—further reinforcing the relationship.

This relationship underscores how EisnerAmper’s technical depth, collaboration, and steady communication helps professional services clients navigate periods of financial instability—allowing them to emerge stronger, more informed, and better positioned for long-term success.

What started as a cleanup project turned into a trusted advisory relationship. They rely on us not just for numbers, but for guidance.

Scott Kaplowitch

Tax Partner at EisnerAmper

Contact Us

Discover how we can restore financial accuracy, regain partner confidence, and uncover significant annual tax savings by resolving complex accounting challenges and rebuilding a reliable financial foundation. Ready to get started? Connect with our team.