In order to finance your new endeavor, you'll need to determine how much money to invest and how much you'll need to keep your business afloat. This session will explore general financial aspects of running a small business such as how to draft an operating budget, and effective tools to manage your firm's financial accounts and tax planning. In addition, attorneys are subject to specific jurisdictional rules with respect to the handling of client funds. This panel will address issues when managing clients' money and the strict compliance rules.
Topics will include:
- Personal financing and lines of credit
- Banking relationships
- Projecting start-up and continuing costs
- Law firm economics 101
- Accounting basics and projecting revenue
- Tax planning
- Selecting an entity/partnership structure
- Managing client funds
This program is part of the 'Foundations For A New Practice' CLE series.
If you intend to take a course for CLE credit, please make sure your state is listed in the "Accreditation" section to the upper right of the program description. Accreditation displayed is unique to the purchased program format (live conference, live webcast, on demand, podcast). Credit totals listed for live conferences are the maximum credits available. Credits issued will be based upon actual time in attendance. Credit totals for other formats are for complete programs. Partial credit is not available for any online or downloadable format.
West LegalEdcenter will not provide accreditation for states not listed.
This product is intended for individual use by the named purchaser. Group viewings for online programs may be arranged for five or more attorneys within the same organization prior to viewing by emailing west.wlec-sales@thomson.com.