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June collections can look steady while the firm quietly swaps quick cash for longer collection risk, weaker reserves, an...
06/03/2026

June collections can look steady while the firm quietly swaps quick cash for longer collection risk, weaker reserves, and less tax visibility.

Here’s the issue 👇

June is the wrong month to guess at profit.Small law firms that still wait until year-end to understand profit, reserves...
06/02/2026

June is the wrong month to guess at profit.

Small law firms that still wait until year-end to understand profit, reserves, and owner pay are already late by midyear.

Here’s the system 👇

Bad-debt rules matter before June optimism turns into Q3 guesswork.A fuller calendar does not make old receivables more ...
06/01/2026

Bad-debt rules matter before June optimism turns into Q3 guesswork.

A fuller calendar does not make old receivables more collectible, and small firms that avoid midyear write-off rules usually carry false confidence into Q3.

Here’s the framework 👇

Old receivables can make June profit look cleaner than the firm’s cash really is.Small law firms often carry dead invoic...
05/31/2026

Old receivables can make June profit look cleaner than the firm’s cash really is.

Small law firms often carry dead invoices too long, which makes profit, partner expectations, and tax planning look cleaner than reality.

A small law firm we’ve worked with used debt to bridge a slow June.But the bigger problem was not the credit line.It was...
05/30/2026

A small law firm we’ve worked with used debt to bridge a slow June.

But the bigger problem was not the credit line.

It was how the borrowing covered up weak margins, thin reserves, and poor tax readiness.

Here’s the real issue 👇

05/29/2026

A partner at a 6-person firm told me she couldn't tell me her firm's revenue until her CPA pulled the P&L two weeks before tax filing.

She'd never actually looked at it.

She's not alone in that.

A lot of law firm owners run their practice off gut feel and bank balance checks.

As long as there's enough to cover payroll and the occasional slow month, the financials feel like someone else's job.

The problem shows up in April.

When your CPA is the only one who knows what your firm made last year, you lose the ability to make good decisions the other eleven months.

You can't plan owner distributions, time equipment purchases, or figure out whether your S-corp salary is costing you extra payroll tax.

That partner and I spent about an hour going through her P&L together.

She was surprised by a few things.

Expenses she'd forgotten about.
A slower quarter that looked worse on paper than she remembered it feeling.

But mostly she said she wished she'd been looking at this stuff all along.

That's usually how it goes.

The numbers aren't scary once you're actually looking at them. It's the not looking that creates the problem.

Your financials should be something you check, not something you discover.

A firm we worked with filed the extension correctly, but partners still treated late K-1 paperwork like late tax pressur...
05/29/2026

A firm we worked with filed the extension correctly, but partners still treated late K-1 paperwork like late tax pressure.

That mistake blew up June cash planning.

Here’s why 👇

A small law firm we worked with used a line of credit to steady payroll, then the June close exposed the miss: most of t...
05/28/2026

A small law firm we worked with used a line of credit to steady payroll, then the June close exposed the miss: most of the payment reduced debt, not taxable income.

Here’s the rule 👇

05/27/2026

A client called me last March asking why her tax bill was $40k higher than expected.

Her books were fine.

The issue was her quarterly estimates.

She'd been underpaying all year, and her accountant hadn't caught it until January.

By that point, the damage was done.
Penalties had already accrued.
She was writing a check she hadn't planned for.

What made it frustrating was how preventable it was.

Her income had grown significantly that year, but her estimates were still based on prior year numbers.

Nobody stopped mid-year to recalculate.

This is one of the most common gaps I see with small law firms.

The bookkeeping is clean, the returns get filed, but the quarterly estimates get set once in January and never revisited.

Then the firm has a good year, income jumps, and suddenly there's a massive balance due.

It didn't come out of nowhere.

It built up quietly across four quarters.

For law firm owners running S-corps or paying self-employment tax, estimates need to move when your income moves.

A mid-year check-in, even a rough one, can catch this before it becomes a March problem.

Accurate books aren't enough on their own.

Someone needs to be looking at what those numbers mean for what you owe right now, not just at year-end.

05/25/2026

A client came in last month convinced she owed nothing.

Bank account looked fine, collections were up, the year felt profitable.

Then her tax bill arrived. Three times what she expected.

The bank account wasn't lying.

It just wasn't telling the whole story.

What she hadn't tracked was estimated taxes.
No quarterly payments had gone out all year.

Profit had been building, she'd been pulling distributions, and nothing in her day-to-day view of the business flagged that a liability was quietly growing in the background.

She's not unusual.

A lot of law firm owners run on cash-basis thinking.

Money in, money out, whatever's left feels like the win.

But the IRS doesn't care what your account balance looks like in December.

They care what you earned, what you kept, and whether you paid along the way.

The fix isn't complicated, but it has to happen before year-end, not after.

A simple quarterly check; actual profit, estimated tax owed, payments made.

Takes maybe 30 minutes with clean books.

It keeps the number from compounding into a surprise that disrupts cash flow right when you're trying to start a new year.

She's on a plan now and doing quarterly reviews going forward. But that first conversation was completely avoidable.

Most tax surprises are.

It's not about the tax code being complicated.

It's about not looking at the right numbers often enough.

Address

30 N Gould Street
Sheridan, WY
82801

Opening Hours

Monday 9am - 3pm
Tuesday 9am - 3pm
Wednesday 9am - 3pm
Thursday 9am - 3pm
Friday 9am - 12pm

Telephone

+19097485888

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