An esteemed attorney began his legal practice in 2018 with the goal of using his law degree and prior experience to continue to serve his existing and new clients while also providing for his family. As his practice rapidly expanded, the demands of running a growing...
Refresh Your Law Firm's Goals Summer is upon us. You know what that means (other than 100 degree weather)? Our year is halfway over. Now is the perfect time to review your law firm's financials, celebrate your wins, and readjust if needed. Remember six months ago...
Your Law Firm Financials Contain Valuable Information That Can Help You Be More Profitable Your law firm’s financials offer more than just data for your tax return—they provide critical insights that can drive your profitability and business decisions. With accurate...
What Accounting Issues Do Law Firms Face? Managing a law firm is time consuming. Not only are you practicing law, you’re worrying about cash flow, hiring and firing, and making all of the other important decisions. Accounting is usually on the bottom of the list....
Why Law Firm Strategic Planning Matters Many law firms struggle with strategic planning because they feel overwhelmed and unsure where to start. Without a clear plan, firms often react to challenges instead of proactively shaping their future. A well-defined strategy...
Iolta Trust Accounting Let’s face it, you went to law school to practice law, not to do accounting. As such, accounting for law firms is often time consuming and overwhelming. To add insult to injury, it’s a requirement and there are standards to follow if you want...
Understanding Law Firm Financials: Key Reports Every Lawyer Should Track Why Law Firm Financials Matter One of the most important aspects of managing a law firm is understanding financial statements. Clear financial reporting helps identify trends, improve...
Selling Your Law? 4 Key Strategies to Maximize Value Many law firm owners see their firm as a retirement plan. If that’s your goal, you need to start preparing now to ensure you get the best value when selling. Buyers will expect at least three years of financial...
Streamlining Your Law Firm’s Efficiency: Set Processes, Profits, & Employee Satisfaction Running a law firm is no small task. From managing client relationships to handling legal documents, every aspect requires precision. Without standardized processes, even the...