Law Firm Financial Wellness 

Are you sure your trust accounting is in compliance? Most law firms think they’re doing it right—until an audit, a reconciliation nightmare, or a missing transaction exposes a serious risk. In this episode of The Law Firm & Finance Show, Terrell Turner, CPA breaks down the 3 essential trust accounting best practices every law firm should follow to stay compliant and protect client funds: Timestamp: 00:00 Introduction to Trust Accounting 00:13 Setting Up a Separate Trust Account 00:46 Tracking Every Dollar in Your Trust Account 01:32 The Role of a Bookkeeper in Trust Accounting 02:29 Using Software for Trust Accounting 03:22 Importance of Reconciliation 04:36 Choosing the Right Bookkeeper 04:55 Recap of Best Practices 06:10 Conclusion and Subscribe 🔍 Why This Matters Trust accounting isn’t just paperwork—it’s an ethical requirement. Missing one deposit, mixing trust and operating funds, or hiring an inexperienced bookkeeper can cost you fines, reporting issues, or even disciplinary action. This video gives you the clarity you need to stay fully compliant. 📘 Need Better Trust Accounting Systems? Download our Free 3-Way Trust Reconciliation Template and get your systems cleaned up: 👉 https://www.tlturnergroup.com/trustacc 📅 Work With TLTurner Group If your firm needs help with trust accounting, clean-up, or ongoing bookkeeping… 👉 Book a call with our team today [https://calendly.com/tlturnergroup/bookkeeping 👍 Like, Subscribe & Share If you found this helpful, tap the Subscribe button and hit the notification bell so you never miss our weekly Law Firm Financial Wellness content.

Does your law firm have enough cash to thrive through uncertainty? Many firms miss growth opportunities simply because they lack a financial cushion. In this episode, Terrell A. Turner, CPA, breaks down how to build a strong cash reserve so your firm can make smarter, more confident decisions. You’ll learn how to: - Build a 3–6 month cash reserve without disrupting operations - Develop daily and monthly cash management habits that support stability - Use your cash buffer to seize opportunities instead of reacting to crises - Gradually strengthen your firm’s financial flexibility and resilience 👉 Start building your firm’s safety net today with a proven cash reserve strategy that keeps your business steady in any season. --- Timestamps 00:00 Introduction: The Tough Conversations 00:12 Missed Opportunities Due to Financial Instability 02:03 The Importance of Cash Reserves 03:28 Building a Cash Reserve Strategy 05:51 Gradual Growth and Financial Cushion 08:37 Strategic Investments and Financial Flexibility 09:15 Investment Tips for Excess Cash 10:19 Final Thoughts and Next Steps --- Resources & Links - Book a Discovery Call → https://calendly.com/tlturnergroup/bookkeeping --- About TLTurner Group At TLTurner Group, we help law firms simplify finances, grow profitably, and make confident business decisions. Led by Terrell A. Turner, CPA, a nationally recognized finance expert, our team empowers law firm owners to gain control, clarity, and confidence in their numbers. --- #LawFirmFinance #CashManagement #LawFirmSuccess #FinanceForLawyers

Are you paying everyone else in your law firm… but not yourself? It’s a common story: staff get yearly raises, costs keep rising, but the law firm owner hasn’t taken a raise in 5–10 years. In this video, Terrell A. Turner, CPA, shares a step-by-step strategy to boost law firm profitability by breaking costs into three simple buckets: - Essential Costs – What your firm must spend to function - Efficiency Costs – Tools or expenses that speed up work (but may be duplicated or unused) - Nice-to-Have Costs – Extras that may no longer add real value Using this framework, Terrell helped a firm owner finally give herself a raise — without hurting the business. In fact, the firm grew more profitable once expenses were right-sized and compensation aligned with performance. Download the Free Checklist Here: https://www.tlturnergroup.com/expense This resource will walk you through the same process to uncover hidden cash in your law firm and create space for owner compensation, strategic hires, and growth. --- Timestamps 00:00 Why Q4 is the best time for this strategy 01:10 Law firm owner story: 10 years without a raise 02:45 Breaking down costs: Essentials vs Efficiency vs Nice-to-Have 05:20 Efficiency costs: uncovering unused tools 08:05 Nice-to-haves: owner + team perspective 12:00 Cutting duplicates and realigning roles 14:30 Strategic raises that fuel growth 17:20 The outcome: owner gets a raise + firm stays profitable 19:00 How to use the downloadable checklist --- Resources & Links - Free Law Firm Profitability Checklist → https://www.tlturnergroup.com/expense - Book a Free Strategy Call → https://calendly.com/tlturnergroup/bookkeeping --- About TLTurner Group At TLTurner Group, we help law firms simplify their finances, boost profitability, and achieve lasting success. Led by Terrell A. Turner, CPA — a 3x “40 Under 40” CPA and global finance influencer — we specialize in turning financial chaos into clarity. --- #LawFirmProfitability #LawFirmSuccess #FinanceTipsForLawyers

Is Your Law Firm Prepared for Financial Pressure? Just like a medical stress test reveals hidden risks in the body, a financial stress test exposes the weaknesses in your firm’s revenue, expenses, and cash flow. In this video, Terrell A. Turner, CPA, breaks down how to run essential stress tests that keep your firm stable — no matter what challenges come your way. Learn how to: - Analyze your revenue streams for hidden risks - Run an expense stress test to spot inefficiencies - Understand your cash flow under pressure - Build a plan to safeguard your firm against financial crises Next Video Sneak Peek: Stay tuned for strategies to cut costs without cutting your firm’s future growth. --- Timestamps 00:00 Introduction to Financial Stress Tests for Law Firms 00:23 Personal Experience with Stress Tests 01:35 Importance of Financial Stress Tests 02:05 Revenue Stress Test 03:19 Expense Stress Test 05:09 Cash Flow Stress Test 07:44 Conclusion and Recommendations --- Resources & Links - Free Law Firm Revenue Calculator → https://www.tlturnergroup.com/freerevenuecalculator - Book a Free Consultation → https://calendly.com/tlturnergroup/bookkeeping --- About TLTurner Group We help law firms simplify their finances, boost profitability, and achieve lasting success. Co-founded by Terrell A. Turner, CPA, a 3x “40 Under 40” CPA and global finance influencer, TLTurner Group partners with law firms across the U.S. to bring clarity and strategy to their numbers. --- #LawFirmSuccess #FinanceTips #LawFirmManagement #CPA

How Law Firms Can Improve Cash Flow with Effective Billing Systems Great lawyers don’t always have great cash flow, and that’s okay. Poor cash flow isn’t a reflection of your legal skills; it’s usually a systems problem. In this episode, Terrell A. Turner, CPA, breaks down how law firms can stop leaving money on the table by building smarter billing processes. Using a real-life firm example, you’ll see how the right systems keep your practice running smoothly and free up resources to grow. What you’ll learn in this video: - Why cash flow struggles happen even in respected firms - Practical steps to create timely, consistent billing processes - How automated reminders improve client collections - Ways to handle late payments without damaging relationships - Why leadership decisions matter for unpaid invoices - Tools and systems to make billing easier and faster 👉 Download your free Law Firm Revenue Calculator here: [www.tlturnergroup.com/freerevenuecalculator](http://www.tlturnergroup.com/freerevenuecalculator) 👉 Book a strategy call with our team: https://calendly.com/tlturnergroup/bookkeeping 👉 Subscribe for weekly law firm finance tips: https://www.youtube.com/@lawfirmsandfinance8002 https://lawandfinance.buzzsprout.com/ --- Timestamps 00:00 Introduction to Common Law Firm Issues 00:51 The Importance of Cash Flow Systems 02:29 Steps to Ensure Timely Billing 04:24 Automated Reminders and Follow-ups 05:46 Handling Late Payments 07:30 Leadership Decisions on Unpaid Invoices 08:49 Setting Up Effective Payment Systems 10:34 Conclusion and Future Topics --- 🌐 Connect with Law Firms and Finance powered by TLTurner Group : Website:https://www.tlturnergroup.com/ LinkedIn: https://www.linkedin.com/showcase/law-firms-finance/ Instagram: https://www.instagram.com/lawfirmfinance/ #LawFirmFinance #CashFlow #TLTurnerGroup

Holidays don’t have to mean chaos for your law firm. In this episode of the Law Firm and Finance Show, Terrell shares practical strategies for managing operations during holidays like Labor Day, so your team can rest without your firm falling behind. You’ll learn how to plan ahead, communicate clearly with clients, protect your cash flow, and use systems + processes to keep everything running smoothly. If you’ve ever felt like you or your staff can’t truly unplug during holidays, this episode will help you put better systems in place. Timestamps 00:00 Introduction to Labor Day Challenges for Law Firms 00:42 Importance of Effective Systems for Holidays 01:43 Planning Ahead for Holidays and Vacations 02:35 Financial Planning for Non-Working Days 03:20 The Role of Processes in Generating Profit 04:56 Conclusion and Call to Action Resources & Next Steps Free Revenue Calculator → https://www.tlturnergroup.com/revenue-calculator More episodes of the Law Firm & Finance Show → https://youtube.com/playlist?list=PL1b3exZNdhVEu7VWlSzhHW6rK99FOkfne&si=ni6d2zlHaWBEFTnk Learn more about TLTurner Group → https://www.tlturnergroup.com Join the Conversation What’s the one system or process your firm needs to strengthen before the next holiday? Drop your answer in the comments, we’d love to hear. #LawFirmFinance #LawFirmManagement #LegalOperations #LaborDay #SmallLawFirm

Building Trust in Your Law Firm: Strategies for Success Trust isn’t just a “soft skill”—it’s the foundation of a profitable, sustainable law firm. In this episode of the Law Firm Financial Wellness, we explore how trust transforms team dynamics, boosts accountability, and drives growth. Discover why professional and collegiate teams with strong dynamics consistently outperform others—and how you can apply those same principles in your firm. --- What You’ll Learn in This Episode: - The hidden impact of trust on law firm performance - Common trust issues that hold firms back - How to use KPIs and metrics to build clarity + accountability - A real case study of implementing KPIs with an office manager - Actionable strategies to create balance and profitability --- Timestamps 00:00 Introduction: Building Trust in Your Team 00:31 The Importance of Trust in Law Firms 00:52 Common Trust Issues in Law Firms 01:50 Developing Trust with KPIs and Metrics 02:46 Case Study: Implementing KPIs for an Office Manager 05:28 Conclusion: Clear Objectives for Building Trust 06:14 Outro: Subscribe for More Insights --- Next Steps ✅ Subscribe for weekly law firm finance + growth insights: https://www.youtube.com/@lawfirmsandfinance8002/videos ✅ Comment below: What’s one way you’re building trust with your team right now? --- Resources + Links 📌 Work with TLTurner Group: https://www.tlturnergroup.com/ 📌 Connect with Terrell on LinkedIn: https://www.linkedin.com/in/terrellturner 📌 Explore more episodes of the Law Firm Financial Wellness: https://youtube.com/playlist?list=PL1b3exZNdhVEu7VWlSzhHW6rK99FOkfne&si=-ivxdIrJtiFoAKgd --- About the Show The Law Firm Financial Wellness Show is hosted by Terrell Turner, CPA—3x 40 Under 40 CPA, NY Times–recognized founder of TLTurner Group, and finance advisor to law firms nationwide. We help law firm leaders simplify their finances, strengthen their teams, and scale with confidence. --- #LawFirmFinance #Leadership #LawFirmGrowth

Navigating Financial Ups and Downs: Essential Strategies for Law Firms Every law firm faces financial highs and lows—but the firms that succeed are the ones that plan ahead and adapt with strategy. In this episode of the Law Firm and Finance Show, we share proven approaches to keep your firm moving forward, no matter the circumstances. 📊 You’ll discover: - Why mental endurance is just as important as financial strategy - How to identify and cut costs without hurting your practice - Creative ways to generate extra revenue during slow periods - How referral sources can become your secret weapon for stability - Actionable steps to keep your firm resilient through financial ups and downs If you want your firm to thrive through uncertainty, this episode is packed with practical strategies you can apply today. --- Timestamps 00:00 Introduction and Welcome 00:53 The Importance of Mental Endurance 01:53 Financial Strategies for Law Firms 02:42 Cutting Costs and Managing Expenses 04:21 Generating Extra Revenue 05:48 Leveraging Referral Sources 08:09 Conclusion and Final Thoughts --- 👉 Subscribe for weekly tips on law firm finance and growth: https://www.youtube.com/@lawfirmsandfinance8002 ▶️ Watch more episodes of the Law Firm and Finance Show here: https://youtube.com/playlist?list=PL1b3exZNdhVEu7VWlSzhHW6rK99FOkfne&si=IJn5R0IuIdMpOS3j --- 💬 Let’s talk: What’s one strategy your firm uses to handle financial slowdowns? Share in the comments—we’d love to hear from you! --- 🔗 Connect with us Website: https://www.tlturnergroup.com/ LinkedIn: https://www.linkedin.com/showcase/law-firms-finance/ Instagram: https://www.linkedin.com/showcase/law-firms-finance/ --- #LawFirmFinance #LawFirmGrowth #LawFirmStrategy #FinancialPlanning #LawyerLife --- ⚖️ Disclaimer: This content is for educational purposes only and does not constitute legal or financial advice.

September Reset: How Law Firms Can Refocus and Win Big September is more than just back-to-school season and the kickoff of football—it’s a chance for your law firm to reset, refocus, and get strategic. In this episode, we explore how law firm leaders can take a page from students and sports teams by building a clear plan for success. We’ll walk through practical steps for setting revenue targets, calculating the number of cases needed, mapping your marketing strategy, and aligning staff roles to hit your goals. Whether you’re preparing for year-end or simply ready for a sharper focus, this episode will help you translate big goals into daily execution. 🎧 Tune in for actionable insights that will help you set, refine, and actually reach your business objectives this fall. --- Timestamps: 00:00 – Welcome to September: A Time of New Beginnings 00:58 – The Importance of Strategy in Education and Sports 02:07 – Crafting a Winning Strategy for Your Law Firm 02:18 – Setting Revenue and Client Targets 03:21 – Breaking Down Your Strategy: From Goals to Execution 04:16 – Operational Considerations for Success 04:31 – Final Thoughts and Encouragement 05:23 – Closing Remarks and Subscription Reminder