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Is Your Business Using Your Home?

Is Your Business Using Your Home?

Home office deduction - what is it and what are the requirements If you own a law firm, you may be able to deduct the cost of your home office on your taxes. The home office deduction is available to business owners who use a portion of their home exclusively for...

A Backdoor Roth Ira Strategy For Law Offices

A Backdoor Roth Ira Strategy For Law Offices

What is a backdoor Roth IRA strategy, and how does it work for law offices specifically A backdoor Roth IRA is a retirement savings strategy that law firm owners can use. Specifically, it allows them to make after-tax contributions to a traditional IRA. Then convert...

How To Write Off Your Vehicle Expenses

How To Write Off Your Vehicle Expenses

What are vehicle expenses, and how do they work? Business owners often have to juggle a lot of different expenses, and one of the most significant categories is vehicle expenses. Vehicle expenses include gas, insurance, repairs, and maintenance. They can also include...

6 Reason To Consider Flat Fees

6 Reason To Consider Flat Fees

What are the Reasons to Consider Flat Fees Flat fees can be more cost-effective for clients. One of the reasons to consider flat fees when running a law firm is that your primary concern is ensuring that your clients get the most value for their money. Hourly billing...

How To Decide Which Cases NOT To Take

How To Decide Which Cases NOT To Take

When should you turn down a case or refuse to take it on? And is Declining Clients for Law Firms the right thing to do? There are a few instances where it is appropriate to do so: It may create a conflict of interest if you already represent a client in a similar...

How to Set Up and Keep Track of Your IOLTA

How to Set Up and Keep Track of Your IOLTA

When it comes to trust accounts, keeping a record of amounts, transactions, and details is necessary. However, they can be confusing and complex, especially for new lawyers or firms. That’s why it’s ideal for keeping track of individual client funds. If you’re...

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