Beware: These Tax Return Red Flags Could Catch the Eye of the IRS
Tax time can be one of the most hated times of the year. Just preparing the forms is enough to be an irritant, and if you owe the government money there’s a good chance that you’re downright annoyed. But neither of those things compare to the feeling that accompanies an envelope bearing an IRS return […]
The 4 Myths of Managing Your Firm’s Finances
If you ask around, you’ll hear a lot of advice out there about how to run your business and handle your finances. And just armchair legal advice, most of it is wrong! Here are the four biggest myths I hear all the time along with the truth you need to know: You can do your […]
Here’s What Happened in the World of Small Business in April 2021
Here are five things that happened this past month that affect your small business. 1. President Biden announced tax credits for COVID-19 vaccination paid time off. The President announced on April 21st “tax credits for certain businesses that pay employees who take time off to get COVID-19 shots, a new effort to involve corporate […]
Kpi framework: client acquisition
Acquisition In any industry, clients will come and go. Depending on what kind of law your practice, you may have long-term relationships with them and work with them for many years. Alternatively, your clients may be dealing with temporary problems and be on their way once they’re resolved. In either case, bringing in new clients […]
Law Firm KPI Framework: Tracking your profitability
If you’ve been around me for very long, you know how much I love profit! If you’re not making a profit, you’re not running a viable law firm and you won’t last very long. In the simplest terms, profit is the difference between your revenue and your expenses, so you always want that number to […]
Law Firm KPI Framework: Evaluating Firm Culture
As firm owners, we can sometimes cringe at the mention of company culture. Ask us to track productivity, and we jump right on board. Customer satisfaction is a no-brainer. But mention the culture and satisfaction of our employees and a little piece of us dies inside, I think for two reasons. Number one, we know […]
Law Firm KPI Framework: Measuring Client Experience
When it comes to tracking metrics for your firm, you may be used to cold, objective numbers with dollar signs in front of them. But right here in the middle of our KPI framework, there’s a category that’s much more subjective and a little bit different from the rest: client experience. We all want to […]
Law Firm KPI Framework: Tracking Client Development
If there’s one missing link that keeps most law firms from accomplishing their goals, it’s tracking KPIs (Key Performance Indicators). That’s why Silver Peaks Accounting uses a framework of KPIs with every client to identify strengths and weaknesses and fix any hidden problems. These KPIs are law firm specific and have been shown time and […]
3 things you MUST review when you get your law firm’s financial statements
Ok, so you’re working with an accountant and you’ve just gotten your monthly financial statements. What do you do? Do you scour them for hours looking for hidden information? Do you just file them away and hope there’s nothing there that you need to know? Are you even sure what you’re looking at? Financial statements […]
Get 90 Days Closer to Your Goals in Business and in Life
In life and in business, it’s so important to have goals. You always want to be moving forward and growing, and the only way to make that happen is to set clear, achievable goals so you know where you’re going and when you get there. Unfortunately, too many people set a goal and never reach […]