Yeah, doesn't divorce work have to be? I just meant that I hoped it wasn't for anything where getting paid relied on anybody believing her.
A woman in court today had a therapy cat. Just unbelievable to see that thing on a leash, literally getting dragged. Took it to the stand with her. Judge actually made her qualify the damn thing. "I need him, otherwise I'd be a wreck. His therapy jacket is at home."
would anyone like the idea of having 2 lawyer threads (last thing the world needs!). As I told gump, maybe a tmb lawyer advice thread and then move this thread to donor board? I realize it's not ideal (and still public) but I know ppl refrain from posting stuff in here because this thread has thousands of views.
I won my second appellate decision last week! The Appellate Court was fairly brutal on the judge applying the wrong standard for removal but ultimately decided that the case met both the in state, and out of state standard so they left it untouched in an unpublished decision.
have a question: wanted to end my fiscal year last Thursday, and I don't plan on depositing any fees into my business checking account until 1/2/17. however, came back to some checks today. if i pay the providers and clients this week but don't deposit any fees until next year, can i pay taxes on those fees in 2017 or will the irs consider it 2016 money because some of the money was paid out to clients and medical providers? thanks
no clue but i wasn't planning on depositing any fees until january because i dont want to pay taxes on the fees until 4/15
Hey plaintiff's lawyers and car wreck defense guys: What are we going to do when cars are self-driving and there's no more car wrecks?
Been pondering the same thing. Won't be pretty, so I'm going to be pretty conservative over the next few years even if I'm making decent money to try to offset that until I'm confident I'll still be able to make more money. Not gonna be one of these PI guys I know who made a little money in a couple years and buys a million dollar house and a $120k car.
No doubt. I'd never do that anyway and there's still a decade or so, but still. Going to drastically change PI practice. Who would need car insurance though? Seems to me like insurance companies stand to lose a lot in revenue
not sure the demand is really there for self-driving cars, but I still plan on trying to fully fund a sep ira for the next decade and saving the vast majority of my $$ just because the technology might exist doesn't mean people will want it
It certainly won't happen immediately but I would be shocked if they aren't regulated/incentivized into prevelance fairly quickly. Surely some lobbyists will fight it off for a while, but the benefit to public safety once the technology is essentially perfected will be tough to hold off. That said, I also don't think they would be the end of insurers or attorneys. Insurance would still seem like something you would need (obviously prices and coverage would change) and attorneys can just get into estates/probate for all of the dying baby boomers or something.
The perfect insurance customer is one who pays a small premium and never gets in a car accident. Also, the insurance lobby owns both parties and both houses, so good luck repealing any requirements about having auto insurance.
Deloitte did a pretty extensive study on it: https://dupress.deloitte.com/dup-us-en/focus/future-of-mobility.html I don't think it's going to be immediate and cost will mean its a gradual phase-in. And, even with self-driven cars there will be the opportunity for insurance claims. The nature of our work will change and some firm business models will have to change, but I think we're going to be okay.
And does anybody have a conference room in Gainesville they'd be willing to let me use for depositions?
oh c'mon, we at least won our bowl I have so many smart ass location responses to write my head is spinning, buttttt this is probably the closest conference room next to campus (i.e. Bars): Holiday Inn 1250 W University Ave, Gainesville, FL 32601
Never realized how tight it was having taxes withheld for me. Going to have to write a fat ass check to Obama on 1/15 and barely have enough saved that is liquid to cover what I owe. Fuck me
Do you have an accountant? My buddy who has a similar shop as you has his accountant basically tell him what to hold out for taxes every month.
Hired one last month. Made a quarterly estimated tax payment for 3q that I thought was right but was off by like 3k. 4q payment is due 1/15 and that is going to suck ass In other news, I'm going to have to hire someone within the next month-six weeks. Signed up 17 cases in November and 19 in December. And another four this week with three more meetings scheduled tomorrow/Friday
Just accepted a job with one of the big name firms here in town and nearly doubled my salary in the process. Feels good.
settled for 5k shy of policy limits yesterday so $245k on a $250k policy limit car wreck case. Could have held out for 250 but was trying to get the deal done and the money in. 100k in fees to the firm. So it was 5 days into January and I'd already covered my salary for the year.
so if you have a solo firm and you make 10k in fees on policy limit wreck how much do you keep for yourself, how much do you save for overhead, how much do you set aside for litigation war chest? i know someone answered this beford but i cant find it
wonder how much i'd make first year if i went out on my own. dont want to starve. what if i told my boss i'd pay him $50k for the cases i have now to be paid to him over time as i settled them if i went out on my own. would that be a good deal? all contingent cases. what is the real value of comp cases and pi cases that are contingent. they could be settled or defense could go to matt or appeal and i dont get paid for 5 years or never. so that devalues them
Why make it a hard dollar amount? Why not just say "for whatever cases I take with me I'll kick back 25% or 40% of the fees earned" or whatever.
Playing boss here, but I'd say "how about you leave them here and I hire somebody else who knows a good deal when he's got one?" Getting work seems to be a lot harder than doing work.
Agree with this for the most part, but I was answering question in the assumption he was leaving. Besides, if you think you can get cases in the door, going out on your own isn't always a bad idea.
i think i eventually can, but i'd want to bring some cases with me to have immediate work and money coming in. I like your idea of just kicking back a % of each one.
Why would he agree to that, though?He'd let the ones you originated go, but if he originated them why wouldn't he just hire somebody else to work them and take home the higher percentage? The only way I could see that working is if you were giving him a higher fee than he'd get on it if you were still working for him.
i wasn't trying to divulge too much earlier but guess i should have thought about that before starting the convo. but he's trying to phase out of practice, he's not trying to hire someone else to work the files and keep the firm going indefinitely.
if you're talking about the sale of a PI/comp practice the question becomes, how much are contingent files really worth? as noted above, some require a war chest to litigate, some may never settle, some may settle for less than the cost you put in, some may be appealed with no pay out for years, and some may settle for policy limits and little work. maybe it's best to pay them out as you settle them for a set %. Alternatively, you could say I'm going to pay you X amount for these files total , to be paid as I settle them. I think option one makes more sense for the seller. Option 2 is a better deal for the buyer depending on the asking price.
Didn't read all the post but maybe lay out multiple options for him. See which one he wants to do. I'm assuming a percentage of everything you settle would be the easiest way to do it.
Why not just hold out and take over his practice when he wants to step away? That way you can keep the (hopeful) goodwill and name recognition.
How many cases have you originated over the last 12 months and how much time have you spent marketing to get them? And how much are those cases worth? I put aside 30% of every settlement into a savings account for Obama. Of the remaining 70% I put a tenth of that into a retirement account and then split the rest between my personal checking account and my business checking account
so if you bring in 10k in fees on a 25k policy limit wreck you put 3k in an account for taxes. Then you put 700 into a retirement account . 3150 goes into a business account and 3150 goes into your personal account. So you're keeping about 31.5 % of your fees. So if you made $250k in fees-which is a tough thing to do solo first year out, then you'd make $77,500. Which isn't terrible by any means but not great either.