Lawyers tend to think of their law firms as an extension of themselves—as their “practice”—not their business. However, the most successful law firms, and nearly every major corporation, operate using fundamental business principles in leveraging assets to borrow the funds necessary for a profitable business. When corporations decide to expand, build a new facility or hire additional personnel, they don’t self-fund it—they look to a bank to help finance their growth.

Corporate CEOs don’t leverage personal assets to grow their businesses, why should you?

Counsel Financial has the expertise and experience to help lawyers:

• Determine their budget
• Project revenues from their existing portfolio
• Increase the size of their law firm and portfolio

Build personal and law firm net worth
Another benefit of a line of credit from Counsel Financial is that attorneys can use law firm profits to increase their own net worth at the same time law firm assets are growing.

Benefit from significant tax advantages
Monthly interest payments to Counsel Financial are fully tax-deductible as ordinary and necessary business expenses. Your payments for disbursements are not. Using after-tax law firm profits to fund working capital and case expenses provides no tax advantages—unless you lose!

In most states, an attorney can charge back to the client a reasonable portion of the interest that they pay on our line if the funds are used for specific case expenses. (Check your local state ethics rules or call us to receive a copy of the opinion in your jurisdiction.)