31: Corporate Transparency Act & Year-End Tax Planning: Key Insights for Entrepreneurial Lawyers
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
Release Date: 10/23/2024
How Lawyers Like You Broke Free and Finally Found the Freedom They Desire & Deserve
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
What if you could hear proof โ real, undeniable proof โ that breaking free from burnout and frustration is not only possible, but itโs already happening for lawyers just like you? Click Here ๐ (๐ข๐ง๐ต๐ฆ๐ณ ๐บ๐ฐ๐ถ listen to ๐ต๐ฉ๐ช๐ด ๐ฑ๐ฐ๐ฅ๐ค๐ข๐ด๐ต ๐ฆ๐ฑ๐ช๐ด๐ฐ๐ฅ๐ฆ, ๐ค๐ญ๐ช๐ค๐ฌ ๐ต๐ฉ๐ฆ ๐ญ๐ช๐ฏ๐ฌ ๐ข๐ฃ๐ฐ๐ท๐ฆ ๐ง๐ฐ๐ณ ๐บ๐ฐ๐ถ๐ณ ๐ง๐ณ๐ฆ๐ฆ 15-๐ฎ๐ช๐ฏ๐ถ๐ต๐ฆ ๐ต๐ณ๐ข๐ช๐ฏ๐ช๐ฏ๐จ) In this inspiring episode of the NewLaw Podcast for Entrepreneurial Lawyers, Ali Katz shares...
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Breaking The Burnout Barrier: How Traditional Law Models Lead to Burnout (...and What You Can Do Instead!)
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
Are you tired of feeling like youโre running on empty, trapped by a legal system that doesnโt appear to be designed to support you? Click Here ๐ (๐ข๐ง๐ต๐ฆ๐ณ ๐บ๐ฐ๐ถ listen to ๐ต๐ฉ๐ช๐ด ๐ฑ๐ฐ๐ฅ๐ค๐ข๐ด๐ต ๐ฆ๐ฑ๐ช๐ด๐ฐ๐ฅ๐ฆ, ๐ค๐ญ๐ช๐ค๐ฌ ๐ต๐ฉ๐ฆ ๐ญ๐ช๐ฏ๐ฌ ๐ข๐ฃ๐ฐ๐ท๐ฆ ๐ง๐ฐ๐ณ ๐บ๐ฐ๐ถ๐ณ ๐ง๐ณ๐ฆ๐ฆ 15-๐ฎ๐ช๐ฏ๐ถ๐ต๐ฆ ๐ต๐ณ๐ข๐ช๐ฏ๐ช๐ฏ๐จ) In this powerful episode of the NewLaw Podcast for Entrepreneurial Lawyers, Ali Katz shines a light on the hidden forces behind lawyer...
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What They Didn't Teach You in Law School (...and Why You're Hurting Because of It!)
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
๐๐๐ฒ๐ฟ ๐ณ๐ฒ๐ฒ๐น ๐น๐ถ๐ธ๐ฒ ๐น๐ฎ๐ ๐๐ฐ๐ต๐ผ๐ผ๐น ๐ฝ๐ฟ๐ฒ๐ฝ๐ฎ๐ฟ๐ฒ๐ฑ ๐๐ผ๐ ๐๐ผ ๐ฏ๐ฒ ๐ฎ ๐น๐ฎ๐๐๐ฒ๐ฟโ๐ฏ๐๐ ๐ป๐ผ๐ ๐ต๐ผ๐ ๐๐ผ ๐๐ต๐ฟ๐ถ๐๐ฒ ๐ฎ๐ ๐ผ๐ป๐ฒ? Click Here ๐ (๐ข๐ง๐ต๐ฆ๐ณ ๐บ๐ฐ๐ถ ๐ธ๐ข๐ต๐ค๐ฉ ๐ต๐ฉ๐ช๐ด ๐ฑ๐ฐ๐ฅ๐ค๐ข๐ด๐ต ๐ฆ๐ฑ๐ช๐ด๐ฐ๐ฅ๐ฆ, ๐ค๐ญ๐ช๐ค๐ฌ ๐ต๐ฉ๐ฆ ๐ญ๐ช๐ฏ๐ฌ ๐ข๐ฃ๐ฐ๐ท๐ฆ ๐ง๐ฐ๐ณ ๐บ๐ฐ๐ถ๐ณ ๐ง๐ณ๐ฆ๐ฆ 15-๐ฎ๐ช๐ฏ๐ถ๐ต๐ฆ...
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37: Lessons from an Entrepreneurial Lawyer: Trish Butcher's Path to a Million-Dollar Firm
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
In this engaging episode of the NewLaw Podcast for Entrepreneurial Lawyers, Ali Katz interviews Trish Butcher, a former gym owner turned successful estate planning attorney, about her transformative journey turning her law practice into a business she loves. Trish shares the pivotal moments and strategic decisions that led her to grow from working out of her home to owning a 5,000-square-foot law office building, all within just four years. Join Ali and Trish as they explore how setting strategic priorities and leveraging available resources can turn a simple law practice into a...
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36: The Power of Remote Staffing for Lawyers with Brett Trembly
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
In this inspiring episode of the NewLaw Podcast for Entrepreneurial Lawyers, Ali Katz welcomes Brett Trembly; CEO and co-founder of Get Staffed Up, and the founder of Trembly Law. Brett shares the incredible journey behind his successful book "24 Months to Freedom," emphasizing the critical role marketing plays in a bookโs success. He also opens up about his experience as a pioneer in the legal remote staffing arena, shedding light on the advantages and challenges of employing remote staff in the legal industry. Listen as Brett details his evolution from a solo practitioner to running...
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35: From $250k to $750k: How Not to Fall Into โThe Crackโ
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
Join us for a next level episode of the NewLaw Podcast for Entrepreneurial Lawyers, Ali Katz is speaking to those of you who are making the leap to scale from 250k to 750k, sharing how to navigate this part of the journey without falling into the cracks and pitfalls along the way that would keep you from reaching your goals. Ali, as always, shares how you can reach these goals while still having your time, attention, and energy, and how to enjoy the process along the way. Key takeaways: Recognize the Critical Stagnation Points: Transitioning from $250k to $750k requires different...
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34: Reimagining Divorce: An Interview with Erin Levine of Hello Divorce
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
In this transformative episode of the NewLaw Podcast for Entrepreneurial Lawyers, host Ali Katz sits down with Erin Levine, founder of Hello Divorce, to delve into the highs and lows of revolutionizing family law. Erin shares her personal journey from navigating the traditional legal system after a traumatic experience to creating a platform that reshapes how divorce is handledโempowering families and lawyers alike. Through candid storytelling, Erin reveals how she went from being a young trial attorney overwhelmed by inefficiencies to a groundbreaking entrepreneur providing accessible,...
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33: Marketing in December: How to Go for It and Have the Best Year of Your Business
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
In this enlightening interview, Ali Katz sits down with Kim Rockwood, a former Personal Family Lawyerยฎ (or PFL) and senior law business advisor at New Law Business Modelยฎ. Together, they tackle the commonly held myth that December is a โdead monthโ for marketing and why believing this might be keeping lawyers from achieving consistent income. Kim shares her journey of transforming her practice, guided by the PFL model strategies, into a full-fledged businessโthanks, in large part, to a pivotal marketing webinar held on December 30th that filled her calendar for six weeks! This...
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32: When They Donโt Hire You: Steps to Take After Hearing 'No Thanks' or 'I Have to Think About It' from Prospects
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
In this episode, Ali Katz dives into a pivotal question faced by lawyers: What do you do when potential clients donโt engage your services? Drawing from her own journey from rejection to client engagement mastery, Ali shares actionable strategies on reshaping your approach to client consultations, aligning your sales strategy with authentic service, and structuring follow-up that leads clients back to you. Through a unique mix of personal anecdotes and coaching insights, Ali demonstrates how to guide clients through the process of seeing the value in your services, without needing to resort...
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31: Corporate Transparency Act & Year-End Tax Planning: Key Insights for Entrepreneurial Lawyers
NewLaw Podcast for Entrepreneurial Lawyers with Ali Katz
In this episode, Ali Katz dives deep into two essential topics for entrepreneurial lawyers: the Corporate Transparency Act and proactive tax time planning. Ali illustrates the importance of thinking ahead when it comes to taxes, a key differentiator between employees and business owners. Drawing on personal experience, Ali explains how proper tax planning in the final months of the year can save business owners from unexpected tax burdens. She also underscores the importance of complying with the Corporate Transparency Act to avoid hefty penalties, offering practical tips and resources for...
info_outlineIn this episode, Ali Katz dives deep into two essential topics for entrepreneurial lawyers: the Corporate Transparency Act and proactive tax time planning. Ali illustrates the importance of thinking ahead when it comes to taxes, a key differentiator between employees and business owners. Drawing on personal experience, Ali explains how proper tax planning in the final months of the year can save business owners from unexpected tax burdens. She also underscores the importance of complying with the Corporate Transparency Act to avoid hefty penalties, offering practical tips and resources for legal professionals to assist their clients with the necessary filings.
Key Takeaways:
- Shift your tax planning mindset: As an entrepreneurial lawyer, start tax planning in October, November, and December to reduce your tax liability for the upcoming year.
- Tax projections are crucial: By reconciling books and providing income and expense projections to your CPA, you can explore strategies to minimize your tax burden before year-end.
- Plan for entity creation: Setting up business entities and adjusting cash flow strategies, like delaying income or accelerating expenses, are vital tools to optimize taxes.
- Corporate Transparency Act compliance: Ensure your business entity files the beneficial ownership information with FinCEN, or face fines of up to $10,000.
- Resources for compliance: Join our group 'Eyes Wide Open: Time, Money, and Taxes' to get more information on how to file CTA/BOI for $25.
Ali encourages entrepreneurial lawyers to adopt the mindset of a business owner by planning ahead and setting up structures that support long-term growth and legal compliance. By embracing these practices, lawyers can better serve their clients and build sustainable businesses.