Let’s talk about finances; specifically, your law practice’s finances, everything from billing (even flat fee pricing) and bookkeeping to taxes and support staff salary negotiations. Guest Terrell Turner is not a lawyer, he’s a CPA and co-founder of the TLTurner Group, an accounting practice that helps lawyers and law firms understand and maximize their finances.

In addition, Turner hosts the American Bar Association Law Practice Group’s podcast, called “The Law Practice Podcast,” that covers money and running a practice. Finance is the foundation of any firm, otherwise, why are you working? And it’s a team issue, everyone in your firm drives the firm’s finances. Every function should help feed the bottom line.

Turner helps firms break down the value of every part of your practice. It’s vital to understand the impact every member of the team has on your firm’s function – even non-billing members such as a virtual assistant (and the TLTurner Group website is adding a free calculator you can use to break it all down).

Not only are you responsible for managing the firm’s output and efficiency, but you should also know what you need from your accountant and bookkeeper (they aren’t the same) and what you should expect to pay for and get from those services. Real talk, real answers. Because money matters.

Questions or ideas about solo and small practices? Drop us a line at NewSolo@legaltalknetwork.com

Topics:

Your firm exists to generate revenue and profit. That’s where a professional financial service can help you strategically understand and maximize your returns.
Every part of your firm should contribute to your bottom line, whether that’s attorneys billing clients or support staff and AI creating efficiencies. And don’t forget, accountants and bookkeepers are not one and the same, you need to know the difference (and how much you should pay).
Are you actively managing your practice with a goal in mind? A practice management program and a professional review of your practice can unlock hidden potential.

Resources:

American Bar Association Law Practice Division

QuickBooks

Canva

ABA Techshow 2026

Clio Cloud Conference 2026

Podcast, “American Bar Association Law Practice Podcast”

Podcast, “Stuff Your Accountant Isn’t Telling You”