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Start a law firm

Start your law firm.Spend your time on clients.

Our office forms your professional entity in any state, gets the EIN, sets up trust and operating accounts in QuickBooks Online, and runs payroll and taxes, while our agency quotes malpractice and office coverage.

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Reviewed by Orkun Ozkaymak, CPA, MBAClients in all 50 states and abroad

$500company setup, EIN included
50 + DCstates we form companies in
1 officeformation, taxes and insurance
2011preparing taxes since
Step by step

How to start a law firm

  1. 1

    Form the entity and get an EIN

    Our office forms your professional corporation, PLLC or LLC in the state where you are licensed and gets your EIN from the IRS. Most states require every owner to be a licensed attorney.

  2. 2

    Check your state bar rules

    Some states require a law firm entity to register with the state supreme court or bar, or to use a specific name format. Confirm the rules where you practice before you open.

  3. 3

    Put malpractice coverage in place

    Some states require malpractice coverage or proof of financial responsibility for limited liability firms, and many clients expect it. Our agency quotes lawyers professional liability with limits that fit your practice.

  4. 4

    Open operating and IOLTA trust accounts

    Client funds belong in a separate trust account under your state's version of Rule 1.15. Our office sets up QuickBooks Online so operating money and each client trust balance are tracked apart.

  5. 5

    Set up payroll and local licenses

    If you hire staff, our office registers you for payroll taxes and runs payroll. Check whether your city or county requires a business license for your office.

Filings and prices

What our office files for you.Prices shown before you send.

Pick what you need on the request form. Ozfield's fees are shown here; government fees are passed through at cost.

  • Professional entity registration IllinoisLaw firm companies register with the Illinois Supreme Court.
    Quoted by our office
  • City of Chicago business license IllinoisThe city fee is $500 or $1,000 for 2 years depending on the license type, paid to the city.
    $179
  • Payroll and state unemployment setupPayroll accounts, state unemployment registration and your first payroll.
    Quoted by our office
Company setup is $500 plus the state fee, EIN included.
The request form adds your filings and shows the full estimate as you go.
Build my estimate
Insurance from the same office

Coverage in place on day one.Quoted by our agency.

Check the coverage you want on the request form and our insurance team sends quotes from multiple carriers. Nothing is bound without your OK.

Start my law firmGet a quote only
  • Lawyers professional liability
  • Cyber
  • General liability
After you open

The filings that come every year.

Our office keeps these on your calendar so nothing is missed. How we work with law offices →

Trust reconciliation

Monthly. Bank, trust journal and client ledgers agree.

Partnership return and K-1s

March 15. Form 1065 or 1120-S for the firm.

Form 941 and state payroll

Quarterly. Attorney and staff payroll.

Estimated payments

Apr 15 · Jun 15 · Sep 15 · Jan 15. For partners and shareholders.

Questions

What new owners ask us.

Something else on your mind? Call 773-536-9272 and our office will help, in English or Turkish.

Can a law firm be an LLC?
In most states, yes. Attorneys can usually practice through a professional corporation, a PLLC or an LLC, as long as all owners are licensed lawyers. Each state sets its own rules on entity type, naming and registration with the court or bar. Our office forms the entity in the state where you practice, and our agency quotes the malpractice coverage.
Do I need malpractice insurance to open a law firm?
Most states do not require every lawyer to carry it, but some require it for firms organized as limited liability entities, and some require you to tell clients if you are uninsured. Many clients and referral sources expect coverage anyway. Our agency quotes lawyers professional liability with limits and deductibles that fit your practice areas.
Should my law firm elect S corporation status?
Many profitable firms elect S corporation status to pay part of the owner's income as salary and the rest as distributions. That can lower self-employment tax, but it adds payroll and a separate business return. Our office runs the numbers for your expected income and files Form 2553 when the election makes sense.
How should a law firm handle trust account bookkeeping?
Client money goes into an IOLTA or separate trust account, never mixed with operating funds. Each client's balance should be tracked and reconciled monthly against the bank statement and your ledger. Our office sets up QuickBooks Online for three-way reconciliation and handles the monthly bookkeeping, so your records are ready for any bar review.

Ready to start your law firm?

Answer a few questions, see your estimate and send it to our office.

Start my law firm773-536-9272