Accounting/Finance
LNC Bookkeeping 101: When You Don’t Like Working with Numbers
LNC Bookkeeping 101 – You have to know your numbers. Whether you like it or not, this is necessary for your business. Do you hate looking at your bank statements? You’re in business to make money, so why don’t you know your numbers? You’re not alone. Money is a huge stress point for many LNCs…
Read MoreWhat is Power of Attorney?
As a legal nurse consultant, you will encounter cases in which someone has power of attorney over another. This term can seem threatening to people. For example, when a husband gives a wife power of attorney, does that give her power over him? It does not. It’s a legal document in which he appointed his…
Read MoreTop Tips for Invoicing as a Legal Nurse Consultant
You do a case for an attorney and she says, “Great work. Send me an invoice.” Here are top tips for invoicing to make the process go smoothly. 1. Use accounting software to create your invoice. Yes, you can get an invoice template from Word, but that does not create the kind of record you…
Read MoreHow to Hire an Accountant for Your LNC Business
Your business needs an accountant. Why? Setting up your bookkeeping system properly is essential. This is not a job for amateurs. The plan to hire an accountant may not make a lot of sense to you in the beginning but it quickly becomes obvious why you need one. An accountant is knowledgeable about business functions,…
Read MoreMedical and Dental Expenses Deductions
With the Affordable Care Act being frequently discussed in the news, we’re paying a lot of attention to medical and dental expenses. What kind of deductions can you take for these expenses? You can take itemized deductions on your Form 1040, Schedule A from the Internal Revenue Service (IRS) for yourself, your spouse and your…
Read MoreHow to Save on Your Taxes When You Work From Home
Many legal nurse consultants start their businesses working out of their homes. It makes sense and it is affordable. You may be wondering how to save on your taxes when you work from home. If you work from home full-time, you may be eligible for a range of tax deductions not available to traditionally employed…
Read MoreTop Tips for a Successful Life Care Planning Business Part 2
Running a successful Life Care Planning business, or a legal nurse consulting business requires skills in 5 areas: expertise, marketing (which I covered in part 1), client management, finances and business development. In this post I share tips about the last 3 pillars. Client Management Maintaining sound relationships with clients is the third pillar of…
Read MoreShould you lower your rates? How to deal with price pressure from attorneys
It’s happened to every legal nurse consultant at one time or another-probably more than once. You quote your hourly rates, only to have your potential client respond with, “That sounds great, but I can’t afford it. You charge THAT much? Can you lower your rates for me?” What do you do? Should you lower your…
Read MoreWhat do You Charge? How to Discuss Your Fees
“What do you charge?” the attorney asks. Your attorney clients will ask this question of you when they are getting seriously interested in hiring you. Does the topic of money make your mouth dry and your hands sweat? Do you dread that point in a conversation when the attorney says, “So what do you charge?”…
Read MoreAn Embezzling Employee – Oh No!
The legal nurse consultant stared at her credit card statement in shock. “Could I have an embezzling employee?” The LNC’s bookkeeper was on vacation when the owner opened up the credit card statement. Her bookkeeper always insisted on paying the bills; the LNC trusted her and did not double check. “There is a $3000 computer…
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