Law Firms & Attorneys
We Understand You
You want to build long-lasting relationships with partners who understand your industry and its unique needs. Olsen Thielen understands the unique financial and operational challenges law firms and lawyers face. Multistate offices, partnership changes, mergers, managing cash flow, and investing for future growth are considerations that require thorough analysis and expert input. Our professionals have the experience and resources to offer timely, proactive advice on important issues to keep your firm compliant, competitive, and efficient. Our clients appreciate the fact that we are large enough to provide them with full-service expertise, yet small enough to give them timely, personal service.
Because we specialize in working closely with law firms, we can provide the financial, tax and consulting expertise that is needed to successfully manage your firm in today’s highly competitive marketplace. Our professionals are highly experienced in the following areas:
- Single-attorney law practices
- Multi-state, staffed legal organizations
- Specialty-service practices
- Full-service law firms with multiple practice areas
Services we provide for your Law practice
We understand many things make your industry unique including flow-through tax structures, complex compensation, and bonus models, partner buy-out strategies, and increasing fee pressures. Our professionals work with business owners and executives to understand your goals and then develop and implement strategies to help achieve them. Some of the specialized services we offer are:
- Compensation models and bonus planning and consultation
- Business entity selection for tax purposes
- Retirement and benefits planning including maximizing pre-tax benefits for owners
- Business valuations for estate, sale or acquisitions
- Purchase and sale of your practice or business including owner transition
- Buy-in and buy-out planning
- Bookkeeping and payroll services
- Client Advisory Services - recurring bookkeeping, payroll and reporting
- Fractional CFO/Controller services
- Deferred compensation planning
- Financial statement and tax preparation and planning for owners and practices
- Estate, trust, and gift planning
- Employee benefit plan audits Internal control/operations reviews
McCollum Crowley Law Firm
Case Study
McCollum Crowley, a specialized law firm, partnered with Julie Walker of Olsen Thielen for fractional CFO support to enhance financial management and accounting processes. Julie streamlined reporting, tax filing, and internal operations while assisting with a new practice management system and staffing assessments.
Contact a Specialist
Our clients look to Olsen Thielen professionals as trusted, strategic partners who have a deep knowledge of their business and priorities. We want to be an extension of your team. Together, we help you navigate today’s challenges and prepare you for a confident and successful future.
Articles & News
Associations
Studio BV
Case Study
Studio BV’s impactful pro bono design work has earned them a Twin Cities Business Community Impact Award. Olsen Thielen has acted as their trusted advisor since Studio BV’s foundation.