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Get actionable insights from Law Firm Velocity, experts in Law Firm Finance and Accounting.
Law Firm Operations
by
Paul W Carlson, CPA
Advanced Client Costs for Contingency Matters are Capitalized as Loans and are Not Deductible Business Expenses
Review best practices in applying advanced client costs and keeping an accurate firm balance sheet.
Law Firm Operations
by
Paul W Carlson, CPA
How to schedule EIDL loan payments from Pay.gov
Learn the ins and outs of scheduling your EIDL loan payments on Pay.gov with our straightforward guide, designed to simplify your repayment journey.
Law Firm Operations
by
Paul W Carlson, CPA
Check your EIDL loan balance, next payment due date, and payment allocation to interest and principal
In this video post, we guide you through using the SBA Capital Access Financial System website to keep tabs on your EIDL loan, including how to check your next payment due date, outstanding loan balance, and how your payments are allocated between interest and principal.
Law Firm Operations
by
Paul W Carlson, CPA
Forecast Cash and Revenue - Contingency Based Law Firm - Pipeline Report
In this video blog post, we outline a specialized process for utilizing a pipeline report to accurately forecast revenue and cash flow in contingency-based law firms.
Law Firm Operations
by
Paul W Carlson, CPA
Right Number in the Right Box - Employee Evaluations
In our latest blog post, Steve Parker, CPA, demystifies the employee evaluation process by explaining what the accuracy and speed of numerical data entry can reveal about an employee's competence and fit for your company.
Law Firm Operations
by
Paul W Carlson, CPA
Prepaid Flat Fees - Tracking individual timekeeper collections and balance of outstanding work
Managing prepaid flat fees requires meticulous tracking, not just of the funds themselves, but also of individual timekeeper collections and the balance of outstanding work to be completed.
Law Firm Operations
by
Paul W Carlson, CPA
Practice Management Systems for Personal Injury Firms
This post highlights how general practice management systems may not be the best fit for personal injury firms, and highlights CASEpeer, Cloudlex, and Filevine as specialized options worth considering.
Law Firm Operations
by
Paul W Carlson, CPA
Streamlining Law Firm Finances: Automated Accounts Payable System
We help law firms pay vendor bills by automating their accounts payable process. This video provides an introduction to our processes and software tools.
Law Firm Operations
by
Paul W Carlson, CPA
S Corps for Law Firms – S Corp Costs
Navigating the financial implications of choosing an S Corp structure for your law firm involves understanding additional costs ranging from payroll services to tax preparation.
Law Firm Operations
by
Paul W Carlson, CPA
S Corps for Law Firms – Reasonable Salary
Determining a 'reasonable salary' for law firm owners operating as S Corps is a critical yet nebulous task, as the IRS provides only general guidelines.
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