How to Use Your Numbers to Increase Profit and Reduce Taxes With Jayden Doye

Welcome to episode 334 of Grow Your Law Firm, hosted by Ken Hardison. In this episode, Ken sits down with Jayden Doyé, founder of Prestige Accounting & Consulting. Jayden works with law firms across the country to improve profitability, stay compliant, and implement tax strategies that reduce what they owe while supporting growth.

The conversation focuses on the financial fundamentals law firm owners need to understand to run a profitable business. Jayden explains the importance of tracking key performance indicators such as profit margin, cost per case, and cash flow, and how these numbers guide better decision-making. He also discusses the risks associated with poor trust account management and why consistent reconciliation is critical to avoiding compliance issues.

What you'll learn in this episode:

The Key Numbers Every Firm Should Track - Why profit margin, cost per case, and cash flow are critical KPIs - How these numbers guide operational and financial decisions

Managing Trust Accounts and Compliance - Why three-way reconciliation is essential for trust accounts - How small errors can lead to larger compliance risks

How to Think About Marketing Spend - Why cost per case matters more than cost per lead - How to evaluate direct and indirect marketing costs

Strategies to Reduce Tax Liability - How discretionary expenses can be used to manage taxable income - Why timing and planning matter when making large purchases

Building Financial Stability and Growth - Why maintaining cash reserves and access to credit is important - How financial systems support long-term scalability

Resources:

Website: accounting-atlanta.com LinkedIn: linkedin.com/in/jaydendoyecpa Facebook: facebook.com/jaydendoyecpa Instagram: instagram.com/prestigeaccountants

Additional Resources:

https://www.pilmma.org/the-mastermind-effect https://www.pilmma.org/resources https://www.pilmma.org/mastermind