Welcome, law firm owners! Are you feeling the weight of your dual roles—leading a successful practice while striving for personal happiness? Do you grapple with the relentless ambition that drives your business against the ever-elusive goal of fulfillment? If so, our latest episode of The Lawyer Millionaire Podcast, featuring Chris Earley, founder of Early Law Group, is a must-listen. Chris delves into the nuanced balance between professional ambition and personal contentment, offering invaluable insights you won’t want to miss.

Chris discusses:

• How his focus on personal growth has scaled his firm, despite a low-profit phase.
• The importance of meditation and mental health.
• The transformation impact of stoicism on managing stress and improving overall well-being.
• Why it is important to value and help others on professional platforms like Linkedin.
• Implementing time management techniques that change your practice for the better.

Resources:

• • Schedule a Call with Darren
  • Wurz Financial Services
  • The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
  • LinkedIn: Darren P. Wurz
  • Join The Lawyer Millionaire Founders Network and Book Club for Free

 

Connect with Chris Earley:

• • Linkedin: Christopher Earley
  • Website: Earley Law Group
  • Newsletter: Practice Tip of the Week

 

 

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Financial planning as a law firm owner comes with its share of complexities, particularly when it involves securing your retirement. One significant aspect often overlooked is the required minimum distribution (RMD). Missing an RMD deadline is more than just a mere oversight – it carries a hefty penalty, up to 25% of the RMD amount. On this episode of The Lawyer Millionaire Podcast, Darren Wurz meticulously unpacks everything you need to know about RMDs, ensuring that you’re not caught off guard.

Darren discusses:

• What RMDs are and their role in retirement planning.
• Specific age and deadlines for initiating RMDs based on the year of your birth.
• How to avoid missing an RMD deadline and incurring severe financial penalties.
• Strategies like Qualified Charitable Distributions (QCSs) and Roth conversions.
• The importance of proactive RMD planning to secure your financial future.

Resources:

• • Schedule a Call with Darren
  • Wurz Financial Services
  • The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
  • LinkedIn: Darren P. Wurz
  • The Lawyer Millionaire Podcast and Book Club
    To connect with podcast guests and other law firm owners, discuss these topics further, and access our quarterly book club, join our LinkedIn Podcast and Book Club

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As a dedicated law firm owner, you’ve invested countless hours into building your practice and planning for a secure retirement. But what if, just when you expect to enjoy the fruits of your labor, you’re confronted with a substantial and unexpected tax burden? This scenario is all too common for those who haven’t factored Roth conversions into their financial strategy.

On this episode of The Lawyer Millionaire Podcast, host Darren Wurz delves into the critical importance of Roth conversions, offering a detailed guide on how law firm owners can bypass crippling tax liabilities and safeguard their financial futures.

 

Darren discusses:

• The benefits of Roth conversions.
• How to avoid the “widows penalty” and strategic timing tips.
• Best time to consider a conversion.
• The tax consequences of Roth conversions and how to plan your cash flow to cover these costs.
• Why Roth IRAs are perfect for estate planning.
• How to leverage low-income and high-deduction years for conversions,

 

Resources:

• • Schedule a Call with Darren
  • Wurz Financial Services
  • The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
  • LinkedIn: Darren P. Wurz
  • The Lawyer Millionaire Podcast and Book Club
    To connect with podcast guests and other law firm owners, discuss these topics further, and access our quarterly book club, join our LinkedIn Podcast and Book Club

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As a law firm owner, you face unique financial challenges and opportunities. Without the traditional employer-sponsored retirement plans, securing your financial future rests firmly in your hands. What if you had a foolproof method to shield a portion of your retirement income from taxes?

On this episode of The Lawyer Millionaire podcast, Darren Wurz delivers a comprehensive guide to using Individual Retirement Accounts (IRAs) and Roth IRAs for long-term wealth and tax optimization.

Darren discusses:

• The fundamental differences between Traditional IRA and Roth IRA.
• How contributions and withdrawals from these accounts affect your taxes now and during your retirement years.
• The income thresholds and eligibility requirements for contributing to both types of accounts.
• Insightful examples illustrating the power of compound growth in retirement accounts.
• How to decide whether to contribute to a traditional IRA or a Roth IRA, considering their current and future tax situations?

Resources:

• • Schedule a Call with Darren
  • Wurz Financial Services
  • The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
  • LinkedIn: Darren P. Wurz
  • The Lawyer Millionaire Podcast and Book Club
    To connect with podcast guests and other law firm owners, discuss these topics further, and access our quarterly book club, join our LinkedIn Podcast and Book Club

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Imagine a strategy that can turn your underperforming investments into powerful tax-saving tools. On this episode of The Lawyer Millionaire Podcast, host Darren Wurz explore tax loss harvesting—a method that can significantly reduce your tax liability while keeping your financial plan intact.

Darren discusses:

• Tax loss harvesting and its application for taxable accounts.
• A step-by-step process to effectively implement tax loss harvesting within your investment strategy.
• Real life examples of clients that have successfully utilized tax loss harvesting to mitigate their tax burdens.
• The optimal time of the year to review your portfolio and make tactical adjustments.
• Understanding the IRS wash sale rule to avoid penalties.

Resources:

• • Schedule a Call with Darren
  • Wurz Financial Services
  • The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
  • LinkedIn: Darren P. Wurz
  • The Lawyer Millionaire Podcast and Book Club
    To connect with podcast guests and other law firm owners, discuss these topics further, and access our quarterly book club, join our LinkedIn Podcast and Book Club

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On this episode of The Lawyer Millionaire Podcast, Darren Wurz presents a comprehensive guide to the Corporate Transparency Act, an imperative piece of legislation designed to combat financial crimes. Law firms, particularly those structured as LLCs, partnerships, or sole proprietorships, must disclose beneficial ownership information to FinCEN. As a law firm owner, failing to comply with the Corporate Transparency Act (CTA) could result in severe legal and financial consequences. The clock is ticking, with a mandatory deadline looming on December 31st, 2024.

Darren outlines the exact information required, elucidates the filing process, and highlights the grave penalties for non-compliance. By addressing potential pitfalls and providing actionable advice, Darren ensures your law firm can navigate this federal mandate effectively.

Darren discusses:

• How to discover if your law firm meets the CTA’s reporting criteria.
• The beneficial ownership information that must be collected and disclosed.
• How to submit your report accurately and promptly via Fincen secure online portal.
• Effective ways of resolving disputes regarding beneficial ownership.
• How to protect your sensitive information when filing your report.

 

Resources:

• Schedule a Call with Darren
• Wurz Financial Services
• The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
• LinkedIn: Darren P. Wurz
• Website: Fincen

 

 

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On this episode of The Lawyer Millionaire Podcast, host Darren Wurz provides an in-depth analysis of year-end tax planning for law firm owners. Darren covers a range of strategies from maximizing retirement contributions to effectively managing income fluctuations and making charitable donations. He also highlights the importance of avoiding common tax pitfalls, ensuring that listeners are fully equipped to reduce their tax liabilities and enhance their wealth accumulation efforts.

Are you prepared to take full advantage of every potential deduction and tax-saving opportunity?
This episode is a must-listen for any law firm owner aiming to fortify their financial strategy before the year’s end.

Darren discusses:

• Top retirement contribution tactics to reduce taxable income.
• The secrets behind strategic Roth conversions.
• Strategies for deferring income or accelerating expenses based on your yearly financial performance.
• How to optimize your high-income years with donor-advised funds and qualified charitable distributions.
• Commonly overlooked deductions like home office expenses and health insurance premiums.

 

Resources:

• Schedule a Call with Darren
• Wurz Financial Services
• The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
• LinkedIn: Darren P. Wurz

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In today’s fiercely competitive legal industry, maintaining a robust online presence is crucial. However, with the rapid introduction of AI technologies, your SEO strategies might be at risk.

On this episode of The Lawyer Millionaire Podcast, host Darren Wurz and digital marketing expert Kevin Daisey uncover how AI could potentially harm your law firm’s SEO efforts and the steps you need to take to protect your digital footprint.

Kevin discusses:

• Why law firms need a specialized, user-friendly web presence.
• Effective strategies for targeting specific client demographics.
• The evolution of content marketing in 2025 and beyond.
• Balancing organic SEO and paid strategies
• Google’s latest algorithm updates and their impact on your digital strategies.
• Real-world case studies on the risk of excessively relying on AI generated content.

 

Resources:

• Book a Call with Darren
• Wurz Financial Services
• The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
• LinkedIn: Darren P. Wurz

 

Connect with Kevin Daisey:

• Linkedin: Kevin Daisey
• Instagram: array.digital
• Youtube: Array Digital
• Website: Array Digital
• Podcast: The Managing Partners Podcast

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Are you struggling to manage your law firm’s growth amidst the chaos of daily operations and client demands? In our latest episode of “The Lawyer Millionaire Podcast,” we uncover the secrets to building a thriving law practice with Jon Groth, owner of Groth Law Firm. Discover how Jon transformed his firm from a solo practice to a 30-person powerhouse using the Entrepreneurial Operating System (EOS).

In this episode, Jon Groth sits down with host Darren Wurz to discuss his journey from a basement start-up to an expanding law firm looking for new office space. Jon shares how implementing the EOS has revolutionized his business, enabling better delegation, efficient processes, and a supportive team structure. He dives deep into the day-to-day operations of running a 30-person law firm, emphasizing the importance of structured meetings, regular performance reviews, and proactive case management.

 

Jon discusses:

• His strategic approach to planning and delegating operational tasks.
• The power of weekly EOS meetings and scorecards to track key performance indicators.
• His shift from financial targets to actionable steps that boost revenue.
• Insights on managing cash flow in personal injury law and improving case handling efficiency.
• Key strategies for building trust within his team while avoiding micromanagement.

 

Resources:

• Book a Call with Darren
• Wurz Financial Services
• The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
• LinkedIn: Darren P. Wurz

 

Connect with Jon Groth:

• Linkedin: Jon Groth
• Facebook: Groth Law
• Podcast: Groth Gets It podcast
• Website: Groth Law

 

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As a busy law firm owner, do you find yourself constantly putting off financial planning? Maybe you already have an advisor, or you think you’ll dive into the nitty-gritty of your finances “when the time is right.” These well-intentioned delays might be costing your firm more than you think. Join us on this eye-opening episode of The Lawyer Millionaire podcast, where host Darren Wurz breaks down the top excuses law firm owners use to avoid hiring a financial planner—and why those excuses are hurting your bottom line.

Darren discusses:

• Why integrating a new financial planner with your existing advisors can enhance and streamline your wealth strategy.

• How his flat monthly fee offers unparalleled value compared to industry standards.

• Overcoming the myth that comprehensive financial planning requires an enormous time investment from you.

• How automated systems and expert oversight can take the heavy lifting off your shoulders.

• Why waiting for the “perfect” time to start financial planning is a trap, and what early adoption can do for your financial health and peace of mind.

Resources:

• Book a Call with Darren
• Wurz Financial Services
• The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence by Darren Wurz
• LinkedIn: Darren P. Wurz

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