The Lawyer Millionaire® Podcast · 2026-06-02 · 24 min
High-income law firm owners are prime targets for abusive tax schemes due to their complex finances, motivation to reduce tax burden, and legal sophistication, which can create a complexity bias due to the tendency to trust complicated strategies as legitimate. On this episode I discuss the top tax fraud schemes that target law firm owners and how to protect yourself. Darren discusses: Why law firm owners are easy target for fraudulent tax schemes. The consequences of engaging in tax fraud. Top 5 abusive tax schemes common among law firm owners. 8 tax planning strategies you should consider. The reality of IRS scrutiny. Resources: Profit First - Transform Your Business from a Cash-Eating Monster to a Money-Making Machine by Mike Michalowicz (Book) Simple Numbers, Straight Talk, Big Profits by Greg Crabtree (Book) Law Firm Profitability Assessment How to Calculate Your Law Firm Tax Reserve
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