What should businesses look out for in terms of tax preparation and what should they avoid doing when trying to run a successful and efficient company? Business owners must track and prepare for their tax position throughout the year. Every business owner deserves to know how their business is performing and how much tax they should be anticipating paying throughout the year rather than just before their taxes are due. Having real-time, upto-date information is the key to having good tax planning, and this should occur months before the preparation of a tax return. If you only think about taxes right before the tax return is due, you are not prepared and could benefit from tax planning services. One of the services you offer is fraud protection, why do you think that small businesses account for 46% of fraud cases and what advice would you give the director of the business to avoid this or to recover from a fraud case? We offer fraud examination services to clients involved in litigation or suspect or have knowledge of a fraudulent situation that has occurred to support litigation. Our services help our clients receive a better outcome in litigation and mediation and provide attorneys with easily communicated information to complex issues. Has there been a recent project which you have worked on and have successfully assisted the client, what were the challenges and how did you overcome these to create a positive outcome? The last fraud case settled for $900,000 and was a money tracing case where the opposing party wanted my client to pay their $120,000 in legal fees and they would walk away without anything further. My report rebutted the opposing counsel’s fraud examiner report and showed that significant comingling occurred and that my client was eligible to receive half of the investment account. Settlement occurred after 2 days of mediation and the client and attorney were pleased with the result. Talk us through the process of writing your book, ‘Litigating for Profit’. Why did you decide to write a book targeted to attorneys and law firms, and do you have any more book ideas lined up for the future? I was encouraged to write a book for my target market to help bolster my reputation in the industry as a professional. I have had a lot of personal interaction with attorneys in my life and find them to be a source of strength and courage for me. I have had many positive interactions and felt like so many of them helped me, and I can help them in return. Writing this book was difficult as I don’t really consider myself a writer. I have started putting together my Show Me The Profit® book, and I am much more excited to get this one finished and out to the public as I believe it has the power to help so many business owners get on a path to turning their business into a wealth engine. Finally, what can we expect from Lucrum Legal Accounting, do you have a vision of where you want to take your business and the impact you want to make for your clients? I plan on growing my business by helping more attorneys with their tax and accounting needs and developing a coaching program to help attorneys increase their profit to more than $1M per partner per year, decrease Partner client hours to less than 500 per year and build a more sustainable legal business. “If you only think about taxes right before the tax return is due, you are not prepared and could benefit from tax planning services.” CEO Today Global Awards 2024 - USA - - 28 -
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