Year-End Financial Tips for Law Firms: Part 3

Phantom income is a concept that can complicate year-end financial planning for law firms. It refers to taxable income reported by a firm without a corresponding cash outflow to owners.  For law firm partners, this can mean owing taxes on income they haven’t yet received in cash, affecting both the partners’ personal finances and the firm’s overall financial stability.

Year-End Financial Tips for Law Firms: Part 2

Phantom income is a concept that can complicate year-end financial planning for law firms. It refers to taxable income reported by a firm without a corresponding cash outflow to owners.  For law firm partners, this can mean owing taxes on income they haven’t yet received in cash, affecting both the partners’ personal finances and the firm’s overall financial stability.

Year-End Financial Tips for Law Firms: Part 1

As the end of the year approaches, one of the most crucial aspects for law firms is accurately projecting income and cash flow. This step not only sets the stage for sound financial management but also directly impacts partner compensation by providing a clear view of expected earnings.

Presentation: Getting the Most Out of Your Finance Function

Derek Barto conducts an insightful conversation discussing how law firms generate reliable and timely information to better run their businesses.  In this presentation you will discover how to consistently access your Firm’s financial data and learn strategies to manage the processes involved.