· LAW FIRMS · CONSULTANCIES · ENGINEERING · PARTNER COMPENSATION
Financial Expertise Built for Service-Based Businesses
Partner compensation structures, billing and revenue recognition, and ownership transition all require advisors who understand how professional service firms operate. Archer Lewis works with law firms, consultancies, engineering firms, and other professional service businesses.
Our Approach
Financial advisors who understand service-based business models.
Professional service firms operate on financial models that require specific industry expertise: partner or owner compensation structures, billing rate and utilization analysis, work-in-progress accounting, and succession planning for knowledge-based businesses. Archer Lewis works with professional service firms to handle the accounting, tax strategy, and financial planning that matches how they actually operate.
What We Handle
Accounting and tax services for professional service firms
From partner compensation to succession planning, our team handles the financial complexity specific to professional service firms.
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Partner & Owner Compensation Planning
Guaranteed payments, distributions, and compensation structures for partnerships, optimized for tax efficiency.
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Work-in-Progress Accounting
WIP valuation and revenue recognition for firms billing by time, so your financial statements reflect what's actually earned.
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Partnership & S-Corp Tax
Complex partnership and S-corp returns for professional entities, including K-1 preparation and allocation planning.
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Firm Valuation
Business valuations for partner buy-ins, buy-outs, and firm sales.
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Succession & Ownership Transition
Planning for partner retirements, admissions, and firm transitions, financially structured to protect all parties.
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Multi-State Professional Tax
Professionals working in multiple states face complex filing obligations. We manage compliance across every state where you provide services.
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Retirement Plan Design
Defined benefit plans and profit-sharing structures for professional firm owners, maximizing tax deferral at high income levels.
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R&D Tax Credit
Engineering, architecture, and technology consulting firms often qualify for R&D credits on qualifying technical activities.
The financial health of a professional service firm depends on the same discipline it provides to clients.
Professional service firms that manage their own finances with the same rigor they apply to client work consistently outperform those that treat internal financial management as an afterthought. Archer Lewis provides the financial discipline and strategic advisory that keeps professional firms profitable, compliant, and positioned for ownership transitions.
Talk to a Professional Services Advisor
Common Questions
What professional service firms ask us.
Professional entities have specific requirements that vary by state and profession. LLPs, professional corporations, and S-corps all have different tax and liability implications. We analyze your situation (including state professional licensing requirements) and recommend the structure that works best.
Partner compensation involves balancing guaranteed payments, profit distributions, and capital accounts in a way that's fair, tax-efficient, and aligned with each partner's contribution. We work with firms to design compensation structures that hold up as the firm grows and partner composition changes.
Partner transitions require buy-sell agreements, valuation methodology, and tax planning for both departing and incoming partners. Getting this right early (before the transition is imminent) produces significantly better outcomes. We work with professional firms on succession planning as an ongoing engagement.
Engineering and architecture firms frequently qualify for R&D credits on activities involving technical uncertainty: custom design work, structural problem-solving, and developing new methods or systems. We review your firm's activities specifically to identify qualifying work and document the credit correctly.
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