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How Does the New Tax Law Affect Your Practice?

No doubt, you have heard that there is a 20% deduction for business income. But, as with anything tax, the devil is in the details. First let’s review some common definitions: Taxable income for this purpose is defined as the net income shown on the form 1040 after all deductions, minus any long-term capital gain […]

Starting a Law Practice – Part 2: The Business Plan

  Unlike some enterprises, the business plan for a start-up law firm need not be an elaborate document.  Nevertheless, understanding the purpose of a business plan and the elements that go in to developing a sound strategy will serve any new enterprise well.  Whether you are just out of law school and looking to start […]