Bookkeeping and Accounting for Patent Lawyers
Searching for a bookkeeping and accounting solution for your patent law practice? We manage your financials, giving you more time to focus on your important legal cases. Try us for free.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.
How Bench works with patent lawyers
Get your bookkeeping, income tax preparation, and filing done by experts who understand the nuances of your industry—powered by one robust platform. Bench works with patent lawyers.
We get you set up
Our crew dedicates time to thoroughly comprehend your patent law firm, respond to your inquiries, assist in connecting your accounts, and demonstrate how Bench operates.
We do your bookkeeping
Every month, your dedicated bookkeeper categorizes your firm's transactions and compiles financial statements for your patent law practice. Should they require any additional information from you, they'll reach out directly.
We deliver tax-ready financials
Our squad of experts is well-versed in legal tax guidelines and will tailor their strategy to your patent law firm's specific requirements.
Here’s why patent lawyers like you trust Bench with their bookkeeping and accounting
Get fast, unlimited support from our expert advisors
We are committed to providing you with regular updates on your bookkeeping status. Do you have any urgent concerns that simply can't be put off? Rest assured, our team will respond back to you within one business day or even less.
Guaranteed accuracy in every detail
Our platform is specially designed to streamline data inputs from numerous major providers, helping you mitigate typical errors. We collaborate with top-notch merchants such as Gusto, Stripe, Shopify, and Square— ensuring that your financials are consistently precise. Trust Bench Accounting for all your bookkeeping needs as a patent lawyer.
See where you’re spending. Make smart decisions
Say goodbye to stacks of case files and hours lost to tedious manual tracking—we streamline inputs directly from linked accounts. Gain insights from one centralized dashboard so you can effortlessly understand the financial standing of your patent law practice and make strategic decisions.
Bench integrates with your favorite small business tools
We sync seamlessly with your financial accounts and tools to keep your books up-to-date and save you the time and effort of manually uploading documents.
Trusted by 25,000+ American small business owners
CHRIS RONZIO
DR. BUKKY KOLAWOLE
HEATHER SHOLL
We know bookkeeping for patent lawyers
For patent lawyers, the pulse of day-to-day operations is fast-paced, with little room for error. The complexities of handling patent applications, drafting legal arguments, and navigating complex legislation often leaves little time for managing financial books. That's where Bench steps in. We provide online bookkeeping services specially tailored to your profession’s unique needs. We understand the varied income streams that may come from client billing, patent filings, and litigation settlements, as well as the expenses often incurred from research, continuing education, and malpractice insurance premiums.
Bench also understands the specific tax laws and regulations that apply to patent lawyers. We provide the guidance you need to leverage available deductions such as professional dues, legal research costs, and even home office expenses. Our team will not only ensure that your day-to-day transactions are accurately recorded and categorized but also prepare your financial statements and tax filings. In addition, our intuitive software coupled with a dedicated team of human bookkeepers provides a seamless and personalized service, allowing you to focus more on servicing your clients, all while remaining complaint and maximizing your profits. Bench's innovative approach to bookkeeping is simply revolutionizing the way patent lawyers manage their finances.
Simple, straightforward pricing for everything your business needs.
Get bookkeeping, tax prep, advisory, and filing with Bench's powerful, easy-to-use platform.
Choose Plan
Essential
billed annually
Premium
billed annually
Essential
billed monthly
Premium
billed monthly
Frequently Asked Questions
A patent lawyer can appropriately track and categorize income from different cases or patents through a robust bookkeeping system. This system can be designed to account for every case individually, making it easier to track income, expenses, and profitability.
When it comes to income from different patents, bookkeeping can be even more crucial. Patent lawyers often deal with various streams of income, including royalties, licensing fees, and other forms of revenue generation from their patents. Different patents might generate income at different rates and at different times, making tracking and categorization even more complex.
Bench Accounting provides a seamless bookkeeping solution for patent lawyers that integrates with their current systems and tracks income on a per-case or per-patent basis. With our help, tracking and categorizing your income doesn't have to be a time-consuming and tedious process.
Typical tax deductions for patent lawyers may include:
- Office expenses: Rent, utilities, and office supplies used in a home office or external location.
- Professional expenses: Membership dues, licensing fees, and continuing education costs.
- Travel expenses: If travel is required for client meetings, court appearances, or other work-related activities.
- Insurance: Professional liability insurance premiums can often be deducted.
- Legal research tools: Costs for legal databases and research tools can be deductible.
- Client entertainment: Money spent on client meals and entertainment may be partially deductible, subject to IRS limits and regulations.
Exact deductions will vary depending on individual circumstances, and it's always recommended to consult with a tax professional for personalized advice.
Bench Accounting provides comprehensive services when it comes to managing IOLTA (Interest on Lawyers' Trust Accounts) and other client funds. Our skilled bookkeepers are trained in legal accounting standards, providing precise tracking, recording, and reconciling of transactions related to client funds. We ensure strict adherence to law firm accounting regulations to maintain trust and transparency. In addition to regular accounting services, we also provide insightful financial reports that can assist law firms in their decision-making process and remain compliant with regulations. This way, Bench Accounting significantly reduces the administrative burden and risk of mismanagement associated with IOLTA and client funds, giving lawyers more time to focus on their legal practice.
Nope! All bookkeeping is completed in-house.
Your bookkeeper will be your main point of contact, but at times you might hear from another member of your team. This is usually when your bookkeeper goes on vacation, is sick, or otherwise unavailable.
We handle the bookkeeping for you but sometimes we’ll need your input, especially at year-end. On average, expect to spend 15 minutes each month answering questions for your bookkeeper, or uploading supporting docs.
Bookkeeping Services for Patent Lawyers
Sign up for a Bench trial, and get one month free. If you decide to go with us, we’ll take bookkeeping off your plate—for good.
No credit card required. By clicking ‘Get Started’, I agree to Bench’s Terms & Privacy Policy.