One of the most prestigious and historically stable law firms in the country recently lost six prominent partners to a competitor.

That story made headlines in Big Law, but there are lessons in this story that apply to firms of every size.

In this episode, I look at what this talent shake-up reveals about recruiting, compensation, retention, payroll, and profitability, and why law-firm owners may need to rethink what kind of business they’re actually running.

Your law firm made $1 million.

So… where did it all go?

For a lot of law firm owners, the answer is probably some combination of payroll and taxes and I’m going to spend plenty of time on both.

But before getting tactical, I think there’s a bigger question worth asking.

What were you hoping that $1 million law firm would actually give you?

More take-home income? More freedom from doing the legal work yourself? A team that could operate without you? Or simply a practice you enjoy running that pays you very well?

Because those goals can lead to very different decisions about hiring, overhead, growth, profitability, and even tax planning.

In this week’s episode of the Law Firm Owner Tax and Money Podcast, I’m starting with the big picture: how to look at where the money is going, what the business is producing for you, and whether the firm you’ve built is actually moving you toward the life and financial outcome you wanted.

Then we can start talking about payroll and taxes. because before you optimize the numbers, it helps to know what you’re optimizing for.

Learn more at www.MeganRobin.com

You’ve probably heard the claim that billionaires have lower effective tax rates than most “normal” people.

Is that actually true?

In this episode, tax attorney Megan Robin breaks down one of the most misunderstood parts of the tax system and explains why high-earning professionals, like lawyers, can sometimes face higher tax rates than people with vastly more wealth.

The answer isn’t a secret loophole. It comes down to how the tax works.

If you’re a business owner or professional trying to build wealth while managing taxes intelligently, this episode will help you start thinking about the bigger picture.

Want your charitable dollars to go further? In this episode, Megan Robin reveals how the new 2026 tax rules change the way you give. From the small-but-mighty $1,000/$2,000 deduction for non-itemizers, to the new floors and caps on large gifts, Megan uses clear examples to show how tax strategy impacts generosity. You’ll also learn about giving appreciated stock, how retirees can give directly from their IRAs, and whether it matters if you donate through your law firm or personally.

Intimidated by the world of investing? Don’t worry—I’ve got you covered! Join me as I break down the basics of investing in plain language. Learn what it means to own a stock, how dividends work, and how to allocate and rebalance your portfolio. I’ll also explain what index funds and ETFs are and how they can fit into your investment strategy. Whether you’re just starting out or want to brush up on the fundamentals, this episode will give you the confidence to take your first steps toward financial growth!

www.MeganRobin.com

When most people hear "diversification," they think it means owning a mix of stocks, bonds, ETFs, and mutual funds. But that’s only part of the story—and relying solely on Wall Street investments could leave your portfolio vulnerable. True diversification goes beyond traditional investments to include multiple income streams, real estate, liquid assets, and tax-smart strategies.

As a California tax attorney, I help my clients create financial plans that align with their goals and make sense from a tax perspective. Subscribe for more insights on diversification and tax planning.

www.MeganRobin.com 

This content is for informational purposes only and does not constitute legal, tax, financial or investment advice.

In this episode, Megan Robin, J.D., Tax LL.M., explains what bonds are, the difference between a bond and a bond fund, how rising and falling interest rates affect bonds, the historical performance of bonds, and how to decide if bonds are right for your portfolio.

https://www.meganrobin.com/

Discover how Warren Buffett’s famous $1 million bet proved that a low-cost S&P 500 index fund could outperform elite, actively managed hedge funds. Learn what this means for small business owners and why boring, disciplined strategies often win over flashy, high-fee alternatives.

Ever wondered why some people pay less tax than others, even with similar incomes? In this episode, Megan Robin, J.D, Tax LL.M., breaks down how the tax system works, exposes the dangers of tax evasion schemes, and shows you how to build a smart, legal tax strategy for your California business.

https://www.meganrobin.com/