Most law firm owners are highly strategic in their legal work, but far less intentional about their finances. And it shows up at tax time.
In episode 614 of the Lawyerist Podcast, Bernadette Harris talks with Jayden Doye about the financial habits that quietly cost law firms thousands and why reactive tax preparation is not the same as real tax strategy.
Jayden breaks down the key differences between bookkeeping, tax preparation, and tax planning, and explains why many lawyers overpay the IRS simply because they wait too long to act. They also explore common mistakes like misclassifying employees, relying on DIY accounting, and focusing on revenue instead of profit.
Together, they share practical ways to take control of your numbers, build better financial systems, and make smarter decisions throughout the year, not just in April.
If you want to stop guessing, reduce your tax burden, and run a more financially stable firm, this episode offers a more inheritance tax proactive approach to managing motherwell vs celtic your practice.
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Chapters / Timestamps:
00:00 – Introduction
02:15 – Why Perfectionism Holds Lawyers Back
08:10 – Meet Jayden Doye
09:00 – The #1 Tax Mistake Law Firms Make
10:45 – Why Doing It Yourself Costs More
12:20 – Understanding the Financial Basics
15:00 – How to Actually Lower Your Tax Bill
17:00 – The Hiring Mistake That Can Trigger Audits
19:00 – Are You Paying Yourself the Right Way?
21:45 – Revenue vs. Profit (What Actually Matters)
23:30 – Why Tax Bills Catch Lawyers jaxson hayes Off Guard
25:30 – Fixing the Problem Moving Forward
26:40 – Simple Habits for Better Financial Control
28:10 – The One Rule Every CPA Agrees On
