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Profit Margin Calculaton/ Law firms  

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(@eileen-6)
Joined: 12 months ago
Posts: 2
12/08/2020 12:48 pm  

Looking for a formula to calcuate profit margin for a law firm.  Do you deduct partners guaranteed payments from expenses ?

 

 


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 LORIN
(@LORIN)
Joined: 3 months ago
Posts: 6
13/08/2020 9:59 am  

Probably guaranteed payments are ordinary business expenses. See the discussion at:

https://www.cpajournal.com/2017/09/01/greatest-hits-avoiding-costly-mistakes-guaranteed-payments-partners/


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 Lorin Browning
(@Lorin Browning)
Joined: 1 month ago
Posts: 8
16/08/2020 12:13 am  

Guaranteed payments to partners are normally treated as expenses.

They are not deducted from expenses since they are expenses.


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