The Lawyer’s Tax Playbook: How to Structure Your Practice, Avoid Pitfalls, and Save Thousands on Taxes

Darren P. Wurz | Wurz Financial Services

Darren P. Wurz is a financial planner specializing in advising attorneys and law firm owners on achieving financial independence. As a Certified Financial Planner® Professional and fiduciary, he focuses on the unique financial challenges faced by legal professionals, particularly solo practitioners and small firm owners. Through his work at Wurz Financial Services, he provides fee-only financial planning tailored to the legal industry. Darren is also an author and podcast host, sharing insights on wealth building, tax strategies, and long-term financial planning for attorneys across the country.

• Education & Credentials

Darren P. Wurz is a Certified Financial Planner® Professional and holds a Master of Science in Financial Planning from Golden Gate University. He operates as a fiduciary and fee-only advisor, specializing in financial planning for legal professionals.

• Recognition & Leadership

Darren P. Wurz is recognized for his leadership in financial planning for attorneys through his authorship of The Lawyer Millionaire: The Complete Guide for Attorneys on Maximizing Wealth, Minimizing Taxes, and Retiring with Confidence, published by the American Bar Association, and as host of The Lawyer Millionaire Podcast, where he shares insights tailored to legal professionals.

• Professional Involvement

Darren P. Wurz is actively involved in both legal and financial professional communities. He is a member of the American Bar Association and the Financial Planning Association, as well as local organizations including the Cincinnati Bar Association, the Northern Kentucky Bar Association, and the Covington Business Council.

• Experience

Darren P. Wurz has developed his career around financial planning for attorneys and law firm owners, leveraging his experience as a small business owner to better understand the challenges faced by solo practitioners and small firms. Through Wurz Financial Services, he provides fiduciary, fee-only advice focused on wealth maximization, tax efficiency, and retirement planning. In addition to his advisory work, he educates legal professionals nationwide through his book and podcast, offering practical strategies for financial success.

Paul Gregory | Anchin, Block & Anchin LLP

Paul Gregory is a Tax Director at Anchin, Block & Anchin LLP with more than 20 years of experience in public accounting. He focuses on tax planning and compliance, with particular expertise in mergers and acquisitions taxation across a wide range of industries. As a key member of the firm’s Services Industry Group, Paul specializes in advising law firms, partnerships, high-net-worth individuals, and multi-state organizations, helping them implement efficient and strategic tax solutions. His work combines deep technical knowledge with practical business and accounting insight, making him a trusted advisor to both businesses and their owners.

• Education & Credentials

Paul Gregory’s credentials are grounded in over two decades of experience in public accounting, with a focus on tax planning, compliance, and mergers and acquisitions. His role as Tax Director at Anchin reflects his advanced expertise in taxation and advisory services for complex business structures and industries.

• Recognition & Leadership

Paul Gregory demonstrates leadership as a key member of Anchin’s Services Industry Group and its Law Firm thought leadership group, where he collaborates on developing client-facing insights, including alerts and vlogs addressing tax policy changes. He is also involved in internal leadership initiatives, including recruiting and contributing to Anchin University, the firm’s continuing professional education program.

• Professional Involvement

Paul Gregory is actively involved in professional and industry organizations, including membership in New York Law Firm Leaders, an exclusive group focused on developing and implementing strategies tailored to the law firm industry. Within his firm, he contributes to thought leadership efforts and professional development initiatives.

• Experience

Paul Gregory has more than 20 years of experience in public accounting, advising clients on tax planning, compliance, and complex transactional matters. His experience includes extensive work in mergers and acquisitions tax planning, tax structuring, and due diligence, as well as providing comprehensive services to businesses and their owners. He works closely with law firms, partnerships, high-net-worth individuals, and multi-state organizations, delivering tailored strategies that address both operational and regulatory tax considerations.

I. Entity selection and structuring for maximum tax efficiency | 2:00pm – 2:20pm

• Choosing between sole proprietorship, partnership, LLC, S-Corp, or C-Corp, when and how to restructure as practice grows
• How entity choice affects self-employment tax, income tax, and deductions
• State-specific considerations for lawyers (professional corporations/PLLCS)

II. Income splitting, compensation models, and retirement planning | 2:20pm – 2:40pm

• Salary vs. distributions for law firm owners (reasonable compensation rules)
• Retirement plan options: SEP IRA, 401(k), cash balance plans
• Solo vs. firm-wide plans for attracting/retaining talent
• Using retirement contributions for significant annual tax savings

III. Deductible business expenses and advanced strategies | 2:40pm – 3:00pm

• Maximizing deductions for home office, continuing education, malpractice insurance, CLE, R&D credits, and bar dues
• Leveraging Section 199A Qualified Business Income (QBI) deduction
• Health insurance deductions and HSA planning for attorneys
• Advanced depreciation strategies: Technology, vehicles, and office buildouts
• Retainer agreements, escrow accounts, etc.
• Litigation funding

Break | 3:00pm – 3:10pm

IV. Wealth management, cash flow, and tax-efficient investing for lawyers | 3:10pm – 3:40pm

• Balancing debt reduction vs. investment contributions
• Roth conversions/retirement planning
• Tax-efficient portfolio construction for lawyers with high incomes
• Coordinating personal financial planning with practice structure
• Building liquidity to avoid high-interest borrowing and tax penalties

V. Advanced tax strategies and risk management | 3:40pm – 4:10pm

• Coordinating tax strategies with estate planning and succession planning
• Tax implications of contingency fees and settlement structures
• Tax implications of remote workers
• Real estate as investment
• Real estate for the firm
• Trusts/estate planning
• Charitable giving for tax efficiency, charitable trusts, donor advised funds
• Audit risks, compliance pitfalls, and malpractice considerations when advising on tax matters