010: A Narrow Niche Will Pay Off in Dividends. Tim Anderson, Esq.
Release Date: 01/30/2015
033: Live Q&A Replay - March 1st, 2019
Law Business Podcast
Questions discussed in this episode: Issues with leasehold improvement asset classification Who needs to issue a 1099, when can I expect to receive one? International taxation issues Tax issues international students face
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032: Live Q&A Replay - February 15th, 2019
Law Business Podcast
Questions discussed in this episode: Scam IRS calls Issues with assets and depreciation Filing status and appropriate withholding levels Business management, expenses and overhead Look out for business networking opportunities
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031: Live Q&A Replay - February 8th, 2019
Law Business Podcast
Questions discussed in this episode: Various tax strategies, and keeping more of the money you earned Reasonable and customary business expenses How account systems work together Education expenses and 529 plans More tax notice questions Happy Chinese New Year!
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030: Live Q&A Replay - January 31st, 2019
Law Business Podcast
Questions discussed in this episode: Do I need an accounting software, or using an excel file good enough? Subcontractors vs. Employees: why is workers comp involved? US tax issues when selling a house or property located in a different country Hiring your first employee Tax questions when selling your primary residence
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029: Live Q&A Replay - January 24th, 2019
Law Business Podcast
Questions discussed in this episode: 529 Plan question; employee tuition reimbusement LLC taxation question. What is an S-Corp Does it make sense to put assets into a trust? How to find a good lawyer? What are the risks? What to do if a client uses questionable bookkeeping practices? Property value question; Accounting for rental income and expenses Completing a W-9 form. Why do contractors ask for this form? IRS payment plan issues Estimated tax payments, penalties and interest
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028: Live Q&A Replay - January 17th, 2019
Law Business Podcast
Answering your business, tax & accounting related questions live on Thursday afternoons. Leave your question under the Comments! Questions discussed in this episode: Bookkeeping and best practices Relying on tax advice found on random websites 1099s received that contain mistakes or wrong information W-2 withholding question, and updating W-4s throughout the year Out of pocket medical expenses, and HSA question Can you employ your kids, and give them a W-2? Questions about retirement plans
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027: Best Practices for Financial Management
Law Business Podcast
Build a law firm that serves you! Freedom to pursue what inspires you and makes you happy! Profits to accomplish the things you want! Peace of mind, so that you don’t stay up at night worrying about the future of your law firm. Joy and fulfillment of serving clients that you enjoy working with. Balance. Remember, your firm needs to serve YOU, and not the other way around.
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026: A lawyer’s insight into how business people purchase legal services. Rochelle Friedman Walk, Esq.
Law Business Podcast
This week we had the pleasure of interviewing Rochelle Friedman Walk Esq. She is the president and owner of the successful Walk Law Firm, PA in Tampa, Florida. Rochelle started her career at a major Cleveland law firm and then moved on to become in-house attorney for large corporations. As general counsel she helped companies reorganize, turn around and succeed in business. Rochelle was in a unique position because she was on the purchasing side of legal services. This gave her a great insight into what companies are looking for when hiring outside counsel. How do businesses want to work...
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025: A Safe Space for Clients. Kristin Wilkinson, Esq.
Law Business Podcast
Kristin represents clients in the area of civil litigation and business law, estates, and family law. What sets her apart from her competitors is that she strives to create a safe space for her clients and connect with them on a personal level. Because clients tend to cross personal boundaries, maintaining a healthy distance while showing empathy is a skill Kristin had to master. Kristin’s empathy and warm personality also influences how she runs her law business. She works with clients to provide flexible payment options and prepayment discounts, but she stands firm on getting paid for...
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024: Happy Holidays
Law Business Podcast
I wanted to take a minute to wish you and your beloved ones a Merry Christmas, Happy Hanukkah and a Happy New Year! I wanted to leave you with three short tips for 2017: 1. Choose yourself - give yourself permission to be successful 2. Surround yourself with people who inspire you 3. Prioritize your daily activities and focus on the ones that lead to business growth
info_outlineTim is a white collar criminal defense attorney in New Jersey. He is the guy you call when the IRS or FBI comes knocking on your door at 6 in the morning, because he can make them go away…
After moving from Minnesota to New Jersey about 5 years ago, Tim practically rebuilt his business from the ground up. In this interview he shares the story of transforming his law practice into a law business.
When it comes to choosing clients, Tim is an advocate of a focused niche. Even though many small and solo practitioners are afraid to choose a focused target market, Tim argues that doing so will pay off in dividends in the long run. A niche is not only a marketing technique, but also helps to build efficiency in the business and converts otherwise competing lawyers into referral partners.
Building a business can hardly be done in a vacuum, this is why Tim has reached out to law business coaches and joined networking groups of likeminded solo law business owners. In this interview he talks about the benefits he received from being in such networking groups.
Getting clarity about financial management has also played a big role in building his business. Creating a budget and tracking financial metrics helped Tim shift his focus from the day-to-day tasks towards longer term goals.
Having an active lifestyle and family time are also important to Tim. He does not claim to have “the secret” to work-life balance, but he certainly puts life ahead of work. He believes it is not only good health wise, but mentally as well.
Business tip: Do not be afraid to narrow your niche, in the long run it will pay off in dividends. Any given area of legal practice is right for finding some kind of niche.
Recommended tools: Clio and QuickBooks Online.