The Maximum Lawyer Podcast

Watch the YouTube version of this episode HERE

In this episode of the Maximum Lawyer Podcast, co-hosts Jim and Tyson engage with tax attorney and CPA Daniel Rowe. Daniel, licensed in multiple states, shares his expertise on crucial tax considerations for law firms. Key highlights to this episode include: the importance of selecting the right business structure (LLC, S Corporation), tax treatment of legal settlements, and common mistakes by new law firm owners, such as poor record-keeping and inadequate tax compliance. 

Daniel stresses the value of education, collaboration with advisors, and maintaining mental and physical health for overall success in managing a law firm. As well as, Daniel shares about how he manages his two separate firms! 
Listen in for more details. 


Jim’s Hack: Read the book “Stay Sane in an Insane World: How to Control the Controllables and Thrive” by Greg Harden. 

Daniels’s Tips:  Two key tips: Maintaining good records and seeking knowledgeable advisors for your business.

Tyson’s Tip: Your health matters! There is a connection of physical activity to mental health, so make a plan for the colder months ahead! 


03:06 Tax Considerations for Law Firms 
04:42 Law Firm Setup and Structure 
08:07 Common Mistakes by New Law Firm Owners 
11:04 Independent Contractors vs. Employees 
13:04 Managing Two Separate Firms 


Tune in to today’s episode and checkout the full show notes here.


Connect with Daniel:
  • daniel@drowelawgroup.com

Creators & Guests

Host
Jim Hacking
Jim launched Hacking Immigration Law in 2008 and his firm has grown to over 30 employees and helped thousands of individuals obtain their immigration benefits. He is the co-founder of Maximum Lawyer.
Host
Tyson Mutrux
Tyson is the founder of Mutrux Firm Injury Lawyers and the co-founder of Maximum Lawyer.

What is The Maximum Lawyer Podcast?

Are you running or starting your own law firm? This is your podcast.