Valuations
How a business plan can help your law firm
Your law firm is not just a convenient place for you to practice your profession –- it is a business that provides opportunity, financial wealth and satisfaction to you and your employees. Learn how a business plan can help you reach your business goals. (6/22/2009)
Life of luxury reveals true business value
At the onset of a divorce proceeding, the wife disclosed during an interview that the standard of living to which she, her husband and their son had grown accustomed was significantly different from the amount of income they were reflecting on their income tax returns. The wife indicated that the family had a very high standard of living with a considerable amount of spending for luxury items, including a summer home, private school for their son, dinners at restaurants, maids and expensive vacations. Yet, their tax returns reported gross income, plus interest and dividends, of approximately $88,000. (6/8/2009)
How to optimize your firm's growth potential
Like it or not, the profession of "lawyering" is a business, too -- a business that grows more competitive every year. Yet attorneys are't necessarily trained to run a business. They need to ask themselves three questions. (5/25/2009)
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The technical information here is necessarily brief. No final conclusion on these topics should be drawn without further review and consultation. Please be advised that, based on current IRS rules and standards, the advice contained herein is not intended to be used, nor can it be used, for the avoidance of any tax penalty assessed by the IRS.