Specialized CPA services for professional service firms.
Founded in 2014, GreenGrowth CPAs has established itself as a trusted partner for professional service businesses across the United States and Canada. From law firms to medical practices and beyond, we deliver the specialized financial expertise you need to focus on your work.
Why professional service firms choose GreenGrowth.
In a field as diverse and complex as professional services, you need a CPA partner with the depth and range to match.
In the diverse and complex field of professional services, ranging from law firms to doctors' offices and beyond, GreenGrowth CPAs stands as a premier partner offering expert financial and advisory services. Our wealth of experience covers the full spectrum of industry-specific demands.
We understand that to achieve your business's full potential, you need access to a broad range of specialized financial and accounting skills. Our team offers these capabilities, freeing up your valuable resources and allowing you to focus on delivering top-tier professional services.
At GreenGrowth CPAs, we offer more than traditional audit and tax. For owners and partners thinking about exit or transition, see our specialized succession planning services. For partners and principals with substantial wealth, see our high net worth CPA services.
What sets us apart
- A decade of experience across professional service verticals
- Broad specialized skills under one roof
- Transaction-ready support when major events arise
- Trusted partner to firms across North America
Looking for a CPA who understands your practice?
Book a confidential call to talk through your tax position, partner compensation, and growth plans.
Serving professionals across the spectrum.
Our experience spans the verticals that define modern professional services.
Trusted advisors for professionals across North America.
Since 2014, we have built our practice on a simple idea: professionals deserve a CPA partner who is as engaged with their business as they are with their clients. Whether you operate a single-office practice or a multi-location firm, we bring the same depth of attention to your financials, your tax position, and your long-term plan.
Talk to a SpecialistScope of services for professional service firms.
We bring a unique combination of practical experience and deep industry knowledge to any project or ongoing concern.
Assurance Services
- Audits, Reviews, and Compilations of Financial Statements
- Internal Audits
- Pension and Benefit Plan Review and Audits (ERISA)
- Financial Forecasts and Projections
- Internal Controls Review and Design
- Due Diligence on Acquisitions and Divestitures
- Custom Assurance Services
- Agreed Upon Procedures
- Quality of Earnings
- Reverse Mergers and Recapitalizations
Tax Services
- Tax Return Preparation and Compliance
- Tax Department Outsourcing
- State and Local Taxation Services
- Alternative Minimum Tax Planning
- Federal, State, and Local Tax Planning and Consulting
- Succession Planning
- IRS Examination Assistance
- ASC 740 (FAS 109 and FIN 48)
- Tax Credits and Incentives
- Quality of Earnings
Advisory and Consulting
- IPO Readiness
- Accounting Services
- Bank Financing Assistance
- Valuation Services
- SEC Outsourcing, Post-Transaction Support
- Business Acquisition and Sale Support
- Forensic Accounting
- Fraud Investigations
- Strategic Planning and Profit Enhancement
- Going Private Transactions
- Transaction Advisory Services
- Outsourced CFO Services
- Operation Effectiveness
- Privacy and Compliance
Planning a transaction, succession, or growth move?
Talk with our team about what your firm needs and how we structure the support.
Professional Services CPA FAQs
Answers to common questions from law firm partners, medical group owners, agency principals, and other professional service leaders.
How is accounting different for professional service firms vs other businesses?
Professional service firms typically operate on cash-basis accounting, have complex partner or owner compensation structures, track time and billing as the core revenue mechanism, and face unique tax planning around partner distributions, retirement contributions, and profit allocation. The chart of accounts, reporting cadence, and tax strategy all look different from typical operating businesses.
What is partner compensation planning and why does it matter?
Partner compensation planning addresses how owners are paid, including guaranteed payments, profit distributions, retirement contributions, and tax-advantaged structures. Done well, it aligns compensation with firm performance while minimizing tax friction. Done poorly, partners over-pay tax, under-fund retirement, and create friction inside the partnership. A specialized CPA structures this strategically.
When should a professional service firm consider an outsourced CFO?
An outsourced CFO becomes valuable when the firm reaches a complexity threshold, typically multiple partners, multiple offices, $5M+ revenue, or specific events like recapitalization, expansion, or planned exit. The CFO function provides forecasting, partner reporting, profitability analysis by service line, and strategic financial leadership without a full-time hire.
How do you value a professional services firm for sale or transition?
Professional service firms are typically valued on a multiple of revenue or EBITDA, with adjustments for client concentration, partner dependency, retention risk, recurring vs project revenue mix, and growth trajectory. Law firms, medical practices, and consulting firms each have their own valuation conventions. We coordinate valuation work with succession planning and transaction support.
What tax credits are available for professional service firms?
Depending on the firm type, common credits include the R&D tax credit (especially for engineering, architecture, and certain consulting firms), Work Opportunity Tax Credit (WOTC), state-specific credits for hiring or training, and credits tied to specific technology investments. Many firms miss these because their tax preparer is not actively looking.
What is succession planning for a professional services firm?
Succession planning for a professional service firm addresses how ownership and control transfers to next-generation partners, an internal buyer, or an external acquirer. It includes equity structure design, buy-sell agreements, valuation methodology, tax-efficient transfer strategies, client retention planning, and timeline. Effective succession planning starts years before the transition.
Ready to talk about your practice?
Every firm is different. Let's talk through where you are, what you need, and how we can help.
Talk to a Specialist