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What should every Partner do when they lateral to a new law firm? We discuss how leaving your financial strategy largely unchanged when making a move can be costly. New compensation, new benefits, and new tax considerations can mean new opportunities.
Should I pay taxes now (Pre-Tax 401k) or later (Roth)? The real question is: if you're going to put $24,500 into your 401(k) either way, which structure puts more money in your pocket?
If you're a Big Law partner sitting on a large cash position because you're not sure exactly what you'll owe or when, you're not alone, and you're not being irrational. But you may be significantly underestimating the cost of that uncertainty.
This isn’t about avoiding tax-deferred accounts altogether, they serve a purpose. But if that’s the only strategy, you’re missing the bigger picture. The biggest question becomes, “How do I structure my assets so I’m not fully exposed to taxes, now OR in the future?”
A junk drawer isn’t a problem, until you actually need something from it. The same is true with your finances. When everything is siloed, it works… until it doesn’t. And by the time the inefficiencies show up in a meaningful way, they’ve often been compounding for years.
Going from a W2 to K1 Partner in Big Law impacts cash flow, tax planning, saving discipline, and lifestyle sustainability far more than most new partners expect.
If you're only asking surface-level questions, you're probably leaving a lot on the table. The partners who get this right aren't necessarily smarter—they're just asking better questions.
Because their firms often represent publicly traded companies, Partners typically cannot buy or sell individual equities directly. But there are ways to structure equity ownership through a managed, compliant framework.
The absence of proper financial planning can create vulnerabilities that are deeper and darker than most attorneys ever imagine.
You think you've done all the right things by maxing out your company benefits or investing a big chunk of cash into the market at one time, but what if the way you're structuring those contributions is quietly costing you millions?
The ability to retire well is about more than just income, it’s about intention. For AM Law attorneys, the stakes are higher, but so is the opportunity.
Attorneys at AM100 law firms operate in a high-performance world: long hours, intense pressure, and high stakes. But behind the prestige and paychecks lies a truth that many partners and associates eventually face: your career’s earning potential doesn’t automatically translate to long-term financial security.
For equity partners at Am Law 100 firms, managing quarterly estimated tax payments is a regular part of life.. but did you know the benefits of paying these with credit cards? Yes, credit cards!
You may be surprised by several key differences between being a partner vs. a counsel or associate position. You will now be faced with an entirely new set of financial implications- quarterly tax estimates, capital buy-ins and new income and cash flow.
What would we do as a first year associate to set us up for a strong financial future? Chris DeVito has the blueprint for you!
We’re coming up on every associate’s favorite time of the year, BONUS season! The current AM 100 scales tops out at around $115,000, now that’s some serious chedda cheese! But what should you do with it?
The 401(k) is a great retirement savings tool that offers many unique benefits such as easy access to the stock market, tax benefits, and a “forced” savings vehicle.
Having an emergency fund is crucial for financial stability and peace of mind. It can help cover unexpected expenses and prevent the need for high-interest credit cards or loans.
Becoming a Senior Associate is a potential turning point in your career. Whatever may be ahead of you in your career, consider these options. They may or may NOT provide some additional layer of security that helps you in your decision.
Let's take a closer look at how federal, state, and local taxes play a role in your take home pay and what to expect going forward.
