Business Finance Archives - Springboard Legal

PAID Program Returns to Help Companies Resolve Minimum Wage, Overtime, FMLA Violations

In July, the U.S. Department of Labor announced that it was bringing back the Payroll Audit Independent Determination (PAID) Program to help companies resolve violations of the Fair Labor Standards Act, notably the minimum wage and overtime rules, as well

Stop Overspending in Your Law Firm

Are you looking at your law firm's financials and asking yourself, "Where does all the money go?" It's a common question. As I work with law firm owners trying to maximize their profit and even my own firm, one of

Stop This Common Payroll Scam with Better Processes

I just got an email from an employee... or who was pretending to be the employee. They wanted me to change the bank account prior to the next payroll cycle. But this is payroll scam, where the scammer is trying

Preparing Your Law Firm for a Recession

A lot of economic experts have started talking about the "R" word -- recession -- lately. It's scary out there, but that doesn't mean that your law firm can't be prepared to take on this economic cycle in stride and

Why Customer Concentration is Such a Giant Risk

I know you've heard the phrase, don't put all your eggs in one basket. But that is exactly what you are doing when you have a high customer concentration. Customer concentration is when you have too much revenue coming from

Unclaimed Property: The Answer to Law Firm IOLTA Uncashed Checks

As lawyers, we know we have to stay on top of our trust accounts. This includes getting the funds out to clients or third-parties promptly as well as tracking all the funds that go in and out of the account.

Lawyers: Don’t Use the Firm’s Bank Account as a Personal Piggy Bank

When you setup a law firm, or really any business, one of the first things that we tell you is to separate out your business transactions from your personal transactions. It's important for concepts like protecting the corporate veil, making

Bench Accounting Closes: Next Steps for Clients

On Friday, Bench Accounting, the Canada-based online bookkeeping and tax platform, abruptly announced that it was closing, effective immediately. Suddenly, Bench's clients were unable to access their data and information. That's a scary situation for businesses, especially as it is

A Guide to Conducting a Tech Audit to Save Money

Every fast growth company gets software bloat over time. It's why I regularly recommend that my clients conduct a tech audit, where you take a look at all the software, SaaS, and related accounts to make sure you are paying

Should I Buy A Business Vehicle to Save on Taxes This Year?

Now that Halloween is over, you may start to look at year-end tax planning and be pretty scared of what you are facing, if you've had a good year. You are looking at that P&L and seeing all that profit,