The Law Firm Owner Tax & Money Show by Megan Robin, J.D., Tax LL.M.

Megan Robin J.D., Tax LL.M.
  • 5.0 (1)
  • Entrepreneurship

The Law Firm Owner Tax & Money Show helps law firm owners navigate taxes, money, and the financial side of running a successful firm. Hosted by tax attorney and law firm owner Megan Robin, the show focuses on the tax and financial issues that matter most to law firm owners, including proactive tax planning, profitability, retirement, and long-term financial strategy. New episodes every other week. www.MeganRobin.com

  1. 1d ago

    The Retirement Tax Mistake Successful Lawyers Can Make

    What if maximizing your traditional 401(k) today creates a bigger tax problem in retirement? Most retirement planning advice assumes that you'll earn less money when you retire. But for successful law firm owners, that assumption may be completely wrong. Your law firm may continue generating income. Your investments may grow. You may own real estate, additional businesses, or other income-producing assets. So what happens when you've spent decades deferring taxes into a traditional 401(k), only to discover that you're still in a high tax bracket when it's time to withdraw the money? In this episode of The Law Firm Owner Tax & Money Show, tax attorney Megan Robin explains why conventional retirement planning can fall short for law firm owners and why minimizing taxes today isn't necessarily the same as minimizing taxes over your lifetime. In this episode: Why traditional retirement advice may not fit law firm owners How continued income in retirement can complicate 401(k) withdrawals Why required minimum distributions (RMDs) matter How retirement income can affect Social Security taxation and Medicare premiums Why Roth conversions and diversified tax treatment deserve consideration The difference between annual tax savings and lifetime tax planning About Megan Robin Megan Robin is a tax attorney and law firm owner who builds comprehensive tax strategies for law firm owners. Her approach looks beyond the annual tax return to consider how business decisions, retirement accounts, investments, benefits, and long-term financial goals work together. Learn more: https://meganrobin.com Tax Strategy. By a Lawyer. For Lawyers. This podcast is for general educational purposes only and does not constitute legal, tax, accounting, or financial advice.

  2. Oct 20

    Is a $150K Salary Reasonable for a $1M Law Firm?

    A law firm can make $1 million a year, pay its owner $150,000 in W-2 wages, and that salary might be perfectly reasonable. It also might be too low. There’s a lot of advice online telling S corporation owners to keep their W-2 salaries low so they can take more income as distributions and save on payroll taxes. But reasonable compensation isn’t determined by a rule of thumb or an arbitrary percentage of revenue. In this episode, I explain what actually matters when determining a law firm owner’s reasonable compensation, including the work the owner performs, where the firm’s revenue comes from, and what comparable services would cost. I also discuss why lowering your salary isn’t just a payroll tax decision. Your W-2 compensation can affect retirement plan contributions, the QBI deduction, and the rest of your tax strategy. The question isn’t simply, “Can I lower my salary?” It’s also, “Should I?” This show is for informational purposes only and does not constitute legal, financial, tax or investment advice. Megan Robin Law, Inc. Megan Robin, a California attorney. State Bar address of record: 1401 21st Street, #6799, Sacramento, CA 95811.

  3. Oct 6

    Can You Trust Your Law Firm’s Financials?

    Can you trust the financial statements you’re using to make decisions about your law firm? In this episode, I walk through two issues I recently spotted in a law firm’s books that immediately made me question whether I could rely on the numbers: ordinary law firm expenses sitting in cost of goods sold and client trust activity running through the profit and loss statement. From there, I explain why this matters far beyond bookkeeping. If the underlying financial data is wrong, it can affect tax planning, hiring decisions, retirement plan contributions, investments, and other major decisions about the firm. I also discuss why law firms should not be treated like generic small businesses when it comes to accounting, and why AI-generated tax strategies are only as reliable as the financial information going into them. If you own a law firm and want help with the intersection of your accounting, taxes, and the economics of your firm, you can learn more at meganrobin.com. This show is for informational purposes only and does not constitute legal, financial, tax or investment advice. Megan Robin Law, Inc. Megan Robin, a California attorney. State Bar address of record: 1401 21st Street, #6799, Sacramento, CA 95811.

  4. Sep 22

    The Truth About Writing Off a Car Through Your Law Firm

    Should your law firm buy your vehicle, lease it, or simply reimburse you for business mileage? The answer is more complicated than "put the car in the business and write it off." In this episode, we look at the decision to buy a vehicle from the perspective of an established law firm owner, including S corporation vehicle ownership, mileage reimbursement, personal versus business mileage, commuting rules, Section 179, bonus depreciation, heavy SUVs, passenger-auto depreciation limits, leasing, and the tax consequences of personal use of a company car. We also get into why the popular "buy a 6,000-pound SUV and write it off" advice leaves out some fairly important details. If you're considering buying a new vehicle for business use, this episode will help you figure out which questions to answer before you start shopping. This show is for informational purposes only and does not constitute legal, financial, tax or investment advice. Megan Robin Law, Inc. Megan Robin, a California attorney. State Bar address of record: 1401 21st Street, #6799, Sacramento, CA 95811.

  5. Sep 15

    The Problem With the “Pay $0 in Tax” Social Media Obsession

    A smaller tax bill this year isn't always evidence of better tax planning. In this episode, I unpack why the “pay $0 in tax”  strategies that I'm seeing everywhere on YouTube lately can be dangerously simplistic, especially for high-income business owners and law-firm owners making decisions about retirement, real estate, deductions, Roth conversions, and long-term wealth planning. Sometimes the smartest tax move is not the one that makes this year’s return look best. This show is for informational purposes only and does not constitute legal, financial, tax or investment advice. Megan Robin Law, Inc. Megan Robin, a California attorney. State Bar address of record: 1401 21st Street, #6799, Sacramento, CA 95811.

  6. Sep 8

    The Real Economics of Law Firm Payroll

    One of the most prestigious and historically stable law firms in the country recently lost six prominent partners to a competitor. That story made headlines in Big Law, but there are lessons in this story that apply to firms of every size. In this episode, I look at what this talent shake-up reveals about recruiting, compensation, retention, payroll, and profitability, and why law-firm owners may need to rethink what kind of business they’re actually running. This show is for informational purposes only and does not constitute legal, financial, tax or investment advice. Megan Robin Law, Inc. Megan Robin, a California attorney. State Bar address of record: 1401 21st Street, #6799, Sacramento, CA 95811.

  7. Sep 1

    Your Firm Made $1 Million. Where Did It All Go?

    Your law firm made $1 million. So… where did it all go? For a lot of law firm owners, the answer is probably some combination of payroll and taxes and I’m going to spend plenty of time on both. But before getting tactical, I think there’s a bigger question worth asking. What were you hoping that $1 million law firm would actually give you? More take-home income? More freedom from doing the legal work yourself? A team that could operate without you? Or simply a practice you enjoy running that pays you very well? Because those goals can lead to very different decisions about hiring, overhead, growth, profitability, and even tax planning. In this week’s episode of the Law Firm Owner Tax and Money Podcast, I’m starting with the big picture: how to look at where the money is going, what the business is producing for you, and whether the firm you’ve built is actually moving you toward the life and financial outcome you wanted. Then we can start talking about payroll and taxes. because before you optimize the numbers, it helps to know what you’re optimizing for. Learn more at www.MeganRobin.com This show is for informational purposes only and does not constitute legal, financial, tax or investment advice. Megan Robin Law, Inc. Megan Robin, a California attorney. State Bar address of record: 1401 21st Street, #6799, Sacramento, CA 95811.

  8. Mar 17

    Why Lawyers Often Pay Higher Tax Rates Than Billionaires

    You’ve probably heard the claim that billionaires have lower effective tax rates than most “normal” people. Is that actually true? In this episode, tax attorney Megan Robin breaks down one of the most misunderstood parts of the tax system and explains why high-earning professionals, like lawyers, can sometimes face higher tax rates than people with vastly more wealth. The answer isn’t a secret loophole. It comes down to how the tax works. If you’re a business owner or professional trying to build wealth while managing taxes intelligently, this episode will help you start thinking about the bigger picture. This show is for informational purposes only and does not constitute legal, financial, tax or investment advice. Megan Robin Law, Inc. Megan Robin, a California attorney. State Bar address of record: 1401 21st Street, #6799, Sacramento, CA 95811.

See All (14)

About

The Law Firm Owner Tax & Money Show helps law firm owners navigate taxes, money, and the financial side of running a successful firm. Hosted by tax attorney and law firm owner Megan Robin, the show focuses on the tax and financial issues that matter most to law firm owners, including proactive tax planning, profitability, retirement, and long-term financial strategy. New episodes every other week. www.MeganRobin.com

Information