Accounting 101 for Boutique and SME Law firms presented by Justin Mastores and Victoria Graves

CPD: Practice management skills (1 point)

Hosted by Clarence, Workplaces for Professionals

Join us for a webinar with Justin Mastores and Victoria Graves, as they cover Accounting 101. This session seeks to upskill boutique legal practices in the areas of business structuring, tax planning and Federal stimulus initiatives available to support the profession.

The CPD session focuses on five key areas:

1. Business foundations

Starting a firm, seeking to revitalise your business or just wanting to do things more efficiently in the future? This section covers best practices for boutique/ SME law firms including cash flow planning, annual budget planning, cloud software, practise management and when and when not to reinvest in your business.

2. Business structuring

What are the different types of business structures for boutique/ SME Law firms? This section covers the various Law Institute approved business structures and asset protection issues. Further, the discussion here will focus on determining the right time to move from sole trader to corporate structures.

3. Tax planning

As a general overview, what should boutique/ SME Law firms be aware of in relation to tax planning? This section covers insurance and other tax and asset write-offs, proactive steps to take now ahead of June 30, and discusses scheduling tax payments.

4. Superannuation

This section is a general overview of superannuation principals that boutique/ SME Law firms need to be aware of. This includes maximum deductible contributions, non-concessional contributions, and non-taxable limits in retirement.

5. What SME law firms can expect in 2021

The final section covers the government funding/ stimulus packages for 2021 and how the same may affect boutique/ SME Law firms.

About our presenters:

Expert speaker: Justin Mastores, Rees Group

Justin Mastores is a Partner of Rees Group, one of Melbourne’s most established accounting firms. Justin is recognised for providing astute business advisory and accounting services to professional services. Justin is actively committed to educating industry about financial literacy and accounting best practices. Justin holds a CPA and attended Monash University.

Moderator: Victoria Graves

Victoria holds a Juris Doctor and a Bachelor of Mass Communication majoring in Marketing and Public Relations. She has practised both corporate/ commercial law and family law prior to specialising in strategic business development, specific to the legal industry. Victoria is the National Business Development Manager of JustKapital, the disbursement funding division of ASX listed, LawFinance. Victoria has extensive experience in presenting and moderating legal panels. Her background in both legal practise and business development/strategy enables her to ensure expert speakers address the specific topic in a context that applies direct to lawyers.

Details:

Date: Thursday, 11th of February

Location: Virtually via Zoom

Time: 1:00 pm - 2:00 pm

Cost: $60 + GST or free for CPD subscribers

RSVP: If you would like to attend virtually, please click the appropriate link.

Upon securing your place, a Zoom invitation will be sent out prior to the event to the email address provided.

To avoid disappointment RSVP early as limited spaces are available.

For solicitors: The CPD scheme is based on self-assessment of the educational activity by the practitioner. If you find it extends your knowledge and skills in areas that are relevant to your immediate or long term needs in relation to your professional development and practice of law then you can claim the activity for CPD units. You should refer to Rule 7 for the criteria in assessing an activity and Rules 8 and 9 for the number of units that can be claimed for an activity.

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