CPA Services for Professional Service Firms in Tulsa

Name: Klingeman CPAs
Address: 6539 E 31st St, Tulsa, Oklahoma, 74145, US
Telephone: (918) 922-1019
Price range: $$

Optimize your professional practice finances with specialized accounting services designed for law firms, medical practices, and consultants.

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Industry Specialist

Our team has deep experience in professional services accounting and tax.

(918) 922-1019

Mon-Fri: 8:00 AM - 5:00 PM

Overview

Understanding Professional Services

Professional service firms—including law firms, medical practices, engineering firms, and consultants—have unique financial needs that require specialized accounting expertise. From trust accounting and compliance to maximizing pass-through deductions and retirement planning, our team helps professionals focus on their clients while we handle the financial complexities.

Industry Challenges

Common Professional Services Pain Points

Trust accounting and client fund compliance (law firms)

Medical billing and accounts receivable management

Maximizing the Qualified Business Income (QBI) deduction

Partner compensation and equity arrangements

Professional liability and malpractice insurance planning

State licensing and regulatory compliance

Retirement plan optimization for high earners

Managing cash flow with irregular client payments

Our Solutions

How We Solve Them

Trust accounting systems and three-way reconciliation

Medical billing integration and revenue cycle management

QBI deduction optimization strategies

Partner compensation analysis and profit allocation

Insurance and risk management financial planning

Multi-state licensing compliance support

Customized retirement plans (SEP, SIMPLE, 401(k), defined benefit)

Cash flow forecasting and working capital management

Benefits

What You Get

Ensure compliance with client fund trust requirements

Maximize collections with better AR management

Take full advantage of the 20% QBI deduction

Create fair and tax-efficient partner arrangements

Reduce tax liability through optimal retirement contributions

Focus on your practice while we handle the financials

FAQ

Professional Services Questions

How do you help law firms with trust accounting?

We implement three-way reconciliation systems that ensure your client trust account, client ledgers, and bank statements always balance. This protects your bar license and provides peace of mind that client funds are properly managed.

What is the QBI deduction and do professional services qualify?

The Qualified Business Income deduction allows eligible pass-through businesses to deduct up to 20% of business income. Some professional services face income limitations, but we develop strategies to maximize your deduction through wage optimization and entity structuring.

What retirement plan options work best for professional service firms?

High-earning professionals can often contribute over $60,000 annually through optimized retirement plans. We analyze options including SEP IRAs, SIMPLE IRAs, 401(k)s, and cash balance plans to maximize tax-deferred savings for you and your partners.

How do you handle multi-state tax compliance for consultants?

Consultants working in multiple states face complex tax obligations. We track nexus requirements, prepare multi-state returns, and implement withholding systems to ensure compliance while minimizing your overall tax burden.

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