Tax Planning for Lawyers: Turning Profit Into Long-Term Growth, with Jayden Doye

Most law firm owners are highly strategic in their legal work, but far less intentional about their finances. And it shows up at tax time.  In episode 614 of the Lawyerist Podcast, Bernadette Harris talks with Jayden Doye about the financial habits that quietly cost law firms thousands and why reactive tax preparation is not the same as real tax strategy.  Jayden breaks down the key differences between bookkeeping, tax preparation, and tax planning, and explains why many lawyers overpay the IRS simply because they wait too long to act. They also explore common mistakes like misclassifying employees, relying on DIY accounting, and focusing on revenue instead of profit.  Together, they share practical ways to take control of your numbers, build better financial systems, and make smarter decisions throughout the year, not just in April.  If you want to stop guessing, reduce your tax burden, and run a more financially stable firm, this episode offers a more proactive approach to managing your practice.  Listen to our previous episodes on Law Firm Profitability & Financial Clarity.  #595 – KPIs for Lawyers: Measuring Your Law Firm’s Financial Health, with Bernadette L. Harris (Remastered) Apple | Spotify | LTN  #583 – From Survival to Strategy: Scaling Your Law Firm Finances, with Bernadette Harris Apple | Spotify | LTN  #575 – From Overwhelmed Lawyer to Strategic Law Firm Owner, with Chad Fox Apple | Spotify | LTN  #558: The Wealthy Lawyer: Practical Financial Strategies for Legal Professionals, with Darren Wurz Apple | Spotify | LTN  Links from the episode:  https://theelawfirmcpa.com/home    Chapters / Timestamps:  00:00 – Introduction02:15 – Why Perfectionism Holds Lawyers Back08:10 – Meet Jayden Doye09:00 – The #1 Tax Mistake Law Firms Make10:45 – Why Doing It Yourself Costs More12:20 – Understanding the Financial Basics15:00 – How to Actually Lower Your Tax Bill17:00 – The Hiring Mistake That Can Trigger Audits19:00 – Are You Paying Yourself the Right Way?21:45 – Revenue vs. Profit (What Actually Matters)23:30 – Why Tax Bills Catch Lawyers Off Guard25:30 – Fixing the Problem Moving Forward26:40 – Simple Habits for Better Financial Control28:10 – The One Rule Every CPA Agrees On