Business Finance Archives - Springboard Legal

Ready to Scale Your Law Firm Hard? Tips from a Fractional CFO

Leaning on her experience with rapidly scaling law firms, Fractional CFO Kimberly DeCarrera shares her top tips for law firm owners ready to start scaling their own law firms. Remember, growth is risky. Rapid growth is the most likely time

How a Fractional CFO Helps Your Law Firm

Did you go to law school because you thought there would be no math? And now you have to figure out the financial reports for your law firm and are totally confused on where to start? Maybe it is time

Protect Your IOLTA Trust Account When Your Bank Fails

On Friday, January 30, 2026, the first bank failure of the year occurred when Metropolitan Capital Bank & Trust of Chicago failed. While Metropolitan Bank was a relatively small bank, it was an IOLTA approved institution for Illinois and perhaps

The Keys to Running a Successful Personal Injury Law Firm, Financial Edition

I work with a lot of law firms as their Fractional CFO. And personal injury law firms are a different beast than other law firms. There's really no two ways about it. Fortunately, there are many successful personal injury law

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.