Lawyer Business Advantage

Lawyer Business Advantage


Tax Reduction Tips with Jayden Doye

January 26, 2022



In this episode, Alay and Jayden discuss:
  • The number one mistake law firms make with regard to taxes.
  • How often your CPA should be meeting with you while your firm is growing
  • Reasonable compensation and how it varies from types of entities.
  • Leading and growing your team as a professional service provider.

 


Key Takeaways:
  • True tax planning accounts for the owner’s desires to understand the profit, not just the tax liabilities.
  • Buying your office space may reduce your tax obligation, though it will vary from firm to firm.
  • Low-cost employee benefits help you to stand out from the competition, and also reduce your taxes.
  • As a leader, you need to invest time in making sure you are the best leader you can be.

 


Tweetable Moments:

“Tax planning is a year-round process. True tax planning is relational.” —  Jayden Doye


“I’ve had to really, really, really get deep into my project management system, and set budgets for the different aspects of every matter.” —  Jayden Doye


“Investing your efforts into becoming a better leader s going to result directly in higher profits for your firm because you’re going to retain your team longer, attract people easier, and they’re going to be more productive.” —  Alay Yajnik


“You need to understand how profitable you are on every matter, on every project that you’re working on.” —  Alay Yajnik


 


 


About Jayden Doye:

During the first two years of building his own CPA firm, Prestige Accounting Solutions, Jayden discovered his niche-law firm owners. He realized that many sought after the lifestyle he lives which includes living debt free, a monthly mandatory vacation & delegate/elevating a team to operate a profitable business that does not require the owner’s full attention. During his second year of business, Jayden became a Certified Profit First Professional & now he teaches the Profit First method to professional service providers which guarantees that their business generate profits.


 


As a CPA, Jayden’s goal is to help entrepreneurs like himself, gain independence, eliminate debt, and create a unique action plan to bring more to their bottom line while paying less in taxes.


 


 


 


Connect with Jayden Doye:

Website: https://accounting-atlanta.com/


Text: Text “CPA” to 21000 to get Jayden’s digital business card!


Facebook: https://www.facebook.com/prestigeaccountingsolutions/


Twitter: https://twitter.com/TheGreatJayden


LinkedIn: https://www.linkedin.com/in/t-jayden-doye-cpa-68a507191/


Instagram: https://www.instagram.com/prestigeaccountants/


 


 


Connect with Alay Yajnik:

Website: LawyerBusinessAdvantage.com


Staffing Up: The Attorney’s Guide to Hiring Top Talent


One Page Strategic Plan: LawFirmSuccessGroup.com


Email: Alay@YajnikGroup.com


LinkedIn: linkedin.com/in/alayyajnik