Pay attention to these things before managing your law office
Before talking about tips on managing the law office, Denny said that the first step that must be considered is to determine the desired form of office. Both individuals or associations are registered as legal entities. Why? Because the form of office greatly impacts the management of offices, especially related to tax payments. Aside from that, you may want to try the lawyer geofencing marketing service if you wish to have an easier way of promoting your law firm, especially to the local potential clients.
This problem is about taxes. About obedience we pay taxes. If individuals how about the tax, what about the association? If it is in my office, I have to collect it, so I have to cut VAT and everything. There are also individuals who don't. Well, whatever the shape, the main thing is that taxes should be a concern.
Hire a Tax Consultant
The greater the income of the law office, the greater the potential tax. In addition to corporate tax, the advocate's personal income tax is also usually deducted. Tax calculations of private law and tax firms are certainly not all advocates can devote their time and thoughts to it. So, said Denny, advocates should employ a tax consultant.
Find a Retainer Client
Furthermore, the problem that often hit the law office is uncertain financial capability. Therefore, Denny conveyed to the participants of the public lecture, to make the office life necessary, that clients would pay for services provided by the law office on a regular basis, otherwise known as retainer clients.
This retainer gives us the most life. If there is no fee retainer, it will definitely be oscillating us. Why is that? Because of this, the case is fluctuating while the retainer is certain. So it's important to look for because our life is there.
Back up funds at least 20% of revenue
Still, in order to strengthen financial capacity, we remind advocates who have started pioneering the law office not to be wasteful. If there is more, back up at least twenty percent. Don't use spree! Save for next year, because we may not still exist.
As is known, there are costs needed to revive the office, including the cost of renting the room, electricity, water, and daily necessities, as well as paying employee salaries. For this purpose, finance must be managed as well as possible. Denny also suggested that each office have an annual work plan on finance.