What is cash flow, how does it work, and why is it important? If you've found yourself pondering these or similar questions while navigating the complicated world of cash flow, this episode is for you!

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00:29 Year-End Panic and Client Price Notifications
01:15 Cash Flow Demystified
02:02 Understanding Cash Flow Reports
03:59 Importance of Positive Cash Flow
04:46 Economic Uncertainty and Budgeting
08:57 Impact of the Pandemic on Law Firms
09:27 Adapting to New Technologies
15:47 Improving Cash Flow for New Businesses
17:32 Cash Flow Management: Lease or Buy?
17:47 Identifying and Eliminating Unnecessary Expenses
19:23 Optimizing Business Savings and Investments
20:00 The Importance of a Rainy Day Fund
21:52 Navigating Lines of Credit
23:24 Leveraging Client Conversations for Business Insights
23:59 Analyzing Staff Productivity and KPIs
24:39 Year-End Financial Review and Adjustments
27:38 Reminder: Filing Your BOIR Report
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Be sure to subscribe for more episodes!
Find us on YouTube as well!

If you have questions, topic requests, or guest suggestions you can email us at info@accountantslawpod.com or send us a message through our website, www.accountantslawpod.com

If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up!

If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

AI has been the hot button topic of the year!

Steve and Lynda share their thoughts on what we can expect from AI when it comes to Accounting Software.

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01:16 Challenges with Client Trust Accounts
02:24 The Impact of AI on Accounting and Legal Industries
05:21 The Evolution of Accounting Practices
07:52 Self-Driving Cars and Legal Implications
11:13 AI in Legal Brief Writing and Future Prospects
15:37 AI's Role in Creative Fields and Ownership Issues
16:22 AI's Visual Capabilities
16:48 AI in Accounting Software
17:36 AI in Legal Practice
18:32 AI's Impact on Jobs
19:36 AI Enhancements in QuickBooks
21:20 AI in Everyday Life
23:08 The Future of AI in Various Fields
27:06 AI Tools and Their Applications

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Modernize Your Law Firm - By Lynda Artesani

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Find us on YouTube as well!

If you have questions, topic requests, or guest suggestions you can email us at info@accountantslawpod.com or send us a message through our website, www.accountantslawpod.com

If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up!

If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

We are excited to welcome John Scott and Kip Bilderback to the podcast to walk you through everything you need to know to help your law firm clients grow!

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00:26 Meet the Special Guests: John Scott and Kip Bilderback
01:34 John Scott's Journey and Expertise
03:10 Kip Bilderback's Background and Insights
05:55 Impact of the 2008 Housing Crash and COVID-19
09:45 Financial Preparedness and Line of Credit
13:24 Challenges in Law Firm Financial Management
18:30 The Role of Coaches and Consultants
27:14 Strategic Growth and Transparency in Law Firms
32:32 Embracing AI in Accounting
33:19 The Value of Continuing Education
34:27 Subscription-Based Billing in Law Firms
35:02 Challenges of Time Tracking
35:55 The Role of Rainmakers and Managers
37:36 Managing Law Firm Growth
38:35 Best Practices for Law Firm Operations
39:59 Navigating Partner Dynamics
41:16 The Importance of Financial Transparency
49:17 Leveraging Interns and AI
52:46 Remote Work and Firm Culture

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John Scott, Partner at Anders CPAs + Advisors, has over thirty years of experience in financial consulting, specializing in law firms. He expertly manages profits through effective cash flow and KPI strategies and reduces taxes with his deep knowledge of tax codes. Leading the Virtual CFO services’ legal division, John provides strategic guidance to mid- sized law firms. His advice covers staff utilization, cash flow planning, hiring, career development, trust accounting, and partner distributions. John uses an advanced tech stack for data-driven decision-making and is writing a book on success strategies for law firms.

Kip Bilderback, with nearly 30 years in the legal field, is an experienced lawyer and business owner proficient in various aspects of law and management, including operations and strategic planning. Starting as a law clerk at Millsap & Singer, he evolved the firm from ten employees to 122, transitioning from analog to a fully integrated network. His leadership steered the firm through the mortgage and COVID crises. Beyond managing his firm, Kip has significantly impacted the legal community, holding roles from committee member to president at the USFN, driving industry standards and leading key financial and governance initiatives.

Judicial Dollars and Cents: A Virtual CFO’s Playbook to Help Law Firms Create a Financial Roadmap to Success by John Scott

Modernize Your Law Firm: Transform Your Law Firm for the Future by Lynda Artesani

Be sure to subscribe for more episodes!
Find us on YouTube as well!

If you have questions, topic requests, or guest suggestions you can email us at info@accountantslawpod.com or send us a message through our website, www.accountantslawpod.com

If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up!

If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

What financial challenges might you be likely to run into across the various legal fields, and how do you navigate them?
We discuss it all in this week's podcast!

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02:28 Mastering Financial Challenges in Legal Specialties
03:21 Understanding Business Mix and Billing Practices
06:09 Technology Adaptation in Law Firms
07:03 Client Acquisition vs. Cash Flow Challenges
09:48 Financial Management and Reporting
15:45 Understanding Collection Ratios
16:07 Setting Up a Strong Foundation
16:54 Budgeting and Forecasting for the Future
17:56 Evaluating Labor Costs
18:52 Challenges in Family Law Practices
21:22 Importance of Technology in Law Firms
25:40 The Role of Financial Coaches
28:54 Engaging with Your Financial Team

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Be sure to subscribe for more episodes!
Find us on YouTube as well!

If you have questions, topic requests, or guest suggestions you can email us at info@accountantslawpod.com or send us a message through our website, www.accountantslawpod.com

If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up!

If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

Tackle year-end like a pro and set yourself up for New Year success!

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03:32 Year-End Cleanup of Client Ledgers

03:53 Checklist for Legal Industry Accounting

08:02 Handling Unclaimed Property

11:22 Preparing for 1099 Season

13:09 Final Tips for Year-End Accounting

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Be sure to subscribe for more episodes!
Find us on YouTube as well!

If you have questions, topic requests, or guest suggestions you can email us at info@accountantslawpod.com or send us a message through our website, www.accountantslawpod.com

If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up!

If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

In this episode, we take a look at the complexities of attorney compensation, breaking down the various ways legal professionals are paid for their work.

Whether you're a client seeking clarity or a legal professional aiming to optimize your billing strategies, this episode offers essential insights into understanding attorney compensation.

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04:52 Main Topic Introduction: Understanding Attorney Compensation

05:43 Traditional Compensation Models and Their Challenges

07:18 Modern Approaches to Attorney Compensation

09:48 The Importance of Transparency and Fairness

13:54 Balancing Benefits and Employee Satisfaction

16:24 Understanding Employee Benefits and Firm Operations

17:51 Challenges of Talent Acquisition and Retention

19:30 Compensation Models and Metrics

21:12 Traditional vs. Modern Law Firm Structures

22:12 Case Study: Effective Compensation Strategies

29:08 The Importance of Perception in the Workplace

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Be sure to subscribe for more episodes!
Find us on YouTube as well!

If you have questions, topic requests, or guest suggestions you can email us at info@accountantslawpod.com or send us a message through our website, www.accountantslawpod.com

If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up!

If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

A haunted house, but it's your office during 1099 season.

We know Halloween is past, and we don't want to scare you... but 1099 season is right around the corner! So we are bringing back some of our favorite episodes on 1099's and W9's with Jeffrey Cronin.

Jeffrey Cronin, Chief Strategy Officer at Zenwork, is back to dive even deeper into 1099's with more focus on W9 forms.

Zenwork: https://www.zenwork.com/

CPA Transformation Podcast https://www.tax1099.com/podcast/cpatransformation/

00:13 Welcoming Jeff Cronin: Tax Talk 1099s and W-9s

01:21 Understanding the W-9 Form

04:00 Backup Withholding and B Notices

06:43 Challenges in Collecting W-9s

14:01 1099 Reporting Complexities

20:37 Understanding Penalty Risks

21:22 Late Filing Penalties Explained

22:40 Handling W-9 Solicitations

26:30 Navigating W-8 Forms and Non-US Payments

27:47 IRS Audit Manual Insights

32:13 Impact of IRS Hiring and Funding

Be sure to subscribe for more episodes!
Find us on YouTube as well!

If you have questions, topic requests, or guest suggestions you can email us at info@accountantslawpod.com or send us a message through our website, www.accountantslawpod.com

If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up!

If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

A haunted house, but it's your office during 1099 season.

We know Halloween is past, and we don't want to scare you... but 1099 season is right around the corner! So we are bringing back some of our favorite episodes on 1099's and W9's with Jeffrey Cronin.

Jeffrey Cronin, Chief Strategy Officer at Zenwork, is back to dive into 1099's

Zenwork: https://www.zenwork.com/

CPA Transformation Podcast https://www.tax1099.com/podcast/cpatransformation/

00:42 Meet Jeffrey Cronin: Background and Expertise

01:41 Diving into 1099s: Common Issues and Solutions

04:20 Handling 1099 Disputes and Mistakes

06:57 The Complexity of 1099 Compliance

12:25 1099-K and Payment Intermediaries

22:42 Challenges with Digital Asset Reporting

28:01 Understanding IRS Reporting Requirements

28:39 The Impact of Third-Party Information Reporting

29:26 Jeff's Journey: From Physicist to Tax Expert

32:22 Navigating Tax Compliance for Debt Cancellation

34:01 Challenges in Reporting for Nonprofits and Grants

40:37 The Complexity of 1042S Reporting

49:14 Penalties and Compliance for Late Filings

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Be sure to subscribe for more episodes!

Find us on YouTube as well!

If you have questions, topic requests, or guest suggestions you can email us at info@accountantslawpod.com or send us a message through our website, www.accountantslawpod.com

If you want to join us in the Accountants Law Lab, visit our website at www.accountantslawlab.com to sign up!

If you want to follow along with Steve’s airstream adventures, as well as Accountants Law Pod updates, be sure to follow us on instagram at Accountants Law Pod.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.