Episode 11

Published on:

23rd Dec 2022

End of Year Financial Basics: How to End 2022 So That 2023 Starts Off Right

In the latest installment of Entrepreneurial Attorney Nation, Richard James is joined by Annette Sonnenburg, President of Sonnenburg Consulting Inc. She has provided CFO consulting services, business consulting, and outsourced accounting and bookkeeping services for more than 20 years.

Richard James and Annette outline exactly how you can end 2022, so that 2023 starts off right. This is THE guide to your law firm's end of year financial planning. By the end of this episode you will discover:

  • The #1 key to setting yourself up for success
  • The deadly sin you need to avoid
  • A framework for financial success for your small law firm

Time Codes:

00:00 - Introduction from Richard James

02:38 - Annette Sonnenburg Introduction

03:21 - Bonus Depreciation

05:33 - Simple IRAs/401Ks

07:28 - Debt in a Small Business

08:27 - Lifestyle

15:51 - End of Year Planning/Review

15:53 - Credit Card/Bank Statements

24:38 - As Compared To:

30:34 - Phone Room

31:34 - Sales

33:31 - People

36:50 - Goals

38:22 - Financial Budget

50:57 - Owner's Benefit

56:30 - Episode Conclusion

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About the Podcast

Your Practice Mastered
Are you ready to take your law firm to the next level?
Tune into The Your Practice Mastered Podcast where we talk about specific problems for law firm owners as they grow their firms. A show that will allow you to learn how to build a law firm that supports a lifestyle that gives you personal and financial freedom. New Episode every Thursday 8PM EST.