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How to Choose an IRS-Compliant Bookkeeping Method for a California Law Firm (Cash vs. Accrual)

Accounting and Bookkeeping / Jack Gilbert

California law firms can generally use either cash or accrual bookkeeping for IRS purposes, but the “right” method depends on revenue size, client trust accounting, and how your firm bills. In California, attorneys also must track client funds under strict IOLTA and fiduciary rules that affect daily bookkeeping. This article explains cash vs. accrual for […]

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How to Choose Between Cash vs. Accrual Accounting for a New York Law Firm (2026 IRS Rules)

New York law firms can generally use either cash or accrual accounting, but many are required to switch to accrual once average annual gross receipts exceed the IRS small-business threshold (about $31 million for 2026, indexed for inflation). The right method affects taxable income timing, partner draws, trust/IOLA handling, and financial reporting. This article explains