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{"sheet":"Law Firm Starting Budget","index":0,"n_rows":45,"n_cols":6,"rows_kept":45,"cut":false,"hidden":false,"merged":[[1,1,1,5],[16,1,16,5],[3,1,3,5],[41,1,42,1]]}
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[null,"Be sure to consult with a certified public accountant to help you understand the tax implications and requirements of business expenses."]
[null,"INITIAL STARTUP COSTS"]
[null,"These are basic  expenses that you will likely incur in order to set up your new practice."]
[null,"DESCRIPTION","ESTIMATED ONE-TIME\nCOST","VENDOR OR SOURCE","NOTES TO SELF","PRACTICE\nMANAGEMENT\nADVICE"]
[null,"Business licensing and registration"]
[null,"Hardware (computer, scanner, etc.)",null,null,null,"See Start-Up Tech Your Law Firm Really Needs: Hardwre, NWLawyer March 2019, 50."]
[null,"Office supplies (printing, mailing)"]
[null,"Desk or other workstation"]
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[null,"Total",{"$f":"SUBTOTAL(109,Table1[ESTIMATED ONE-TIME\nCOST])","v":0}]
[]
[null,"INITIAL MONTHLY STARTUP COSTS"]
[null,"These are basic monthly expenses that you will likely incur from the start, even if you are focusing on a lean or low-overhead practice."]
[null,"DESCRIPTION","ESTIMATED MONTHLY\nCOST","VENDOR OR SOURCE","NOTES TO SELF","PRACTICE\nMANAGEMENT\nADVICE"]
[null,"Email Domain Services",null,null,null,"For some email vendors (gmail, outlook, etc.) you will need to pay a monthly subscription fee for business services. This will give you encryption protection of your data. Without it, you may be exposing yourself and your clients to the disclosure of confidential information. "]
[null,"Virtual Private Network",null,null,null,"If you will be connecting to public WiFi connections (coffee shops, airport, etc.) with devices that contain client information (including email) you need to pay for a virtual private network."]
[null,"Internet and phone service"]
[null,"Web hosting",null,null,null,"Depending on your business needs, you may be able to put off creating a website until your practice is more stable."]
[null,"Office 365 Business subscription",null,null,null,"There are other tools that offer word processing and work/collaboration tools. However, an Office license is recommended because most applications will not offer the same features that you need."]
[null,"PDF editing software",null,null,null,"Most systems have software that will let you view an PDF document. However, if you need to edit PDFs (add bates numbers, insert or delete pages, etc.) you will need to purchase Adobe Acrobat or a similar product."]
[null,"Total",{"$f":"SUBTOTAL(109,Table13[ESTIMATED MONTHLY\nCOST])","v":0}]
[]
[null,"ANNUAL COSTS"]
[]
[null,"DESCRIPTION","ANNUAL COST","ANNUALIZED (MONTHLY) COST","NOTES TO SELF","PRACTICE\nMANAGEMENT\nADVICE"]
[null,"CLE and education expenses",null,{"$f":"Table3[ANNUAL COST]/12","v":0},null,"The WSBA's Legal Lunchbox series is a free CLE webinar offered each month. If you participate in the live seminar each month, you will fulfill all of your mandatory legal education requirements, for free."]
[null,"Legal research tools",null,{"$f":"Table3[ANNUAL COST]/12","v":0},null,"The WSBA offers access to Casemaker and Fastcase for free."]
[null,"Subscriptions (treatises, publications, etc.)",null,{"$f":"Table3[ANNUAL COST]/12","v":0}]
[null,"Licensing fees for practice",null,{"$f":"Table3[ANNUAL COST]/12","v":0}]
[null,"Section memberships and other membership fees",null,{"$f":"Table3[ANNUAL COST]/12","v":0}]
[null,"Malpractice insurance",0,{"$f":"Table3[ANNUAL COST]/12","v":0}]
[null,"Office space or office sharing expense",null,{"$f":"Table3[ANNUAL COST]/12","v":0}]
[null,"Business taxes (local, state, federal)",null,{"$f":"Table3[ANNUAL COST]/12","v":0}]
[null,"Bookkeeper/CPA",null,{"$f":"Table3[ANNUAL COST]/12","v":0}]
[null,"Total",{"$f":"SUBTOTAL(109,Table3[ANNUAL COST])","v":0},{"$f":"SUBTOTAL(109,Table3[ANNUALIZED (MONTHLY) COST])","v":0}]
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[null,"SUMMARY"]
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[null,"Total Expected Expenses for the First Year",{"$f":"Table3[[#Totals],[ANNUAL COST]]+(Table13[[#Totals],[ESTIMATED MONTHLY\nCOST]]*12)+Table1[[#Totals],[ESTIMATED ONE-TIME\nCOST]]","v":0}]
[null,"First Month of Expenses and Startup Costs",{"$f":"Table3[[#Totals],[ANNUALIZED (MONTHLY) COST]]+Table13[[#Totals],[ESTIMATED MONTHLY\nCOST]]+Table1[[#Totals],[ESTIMATED ONE-TIME\nCOST]]","v":0}]

{"sheet":"Revenue and Rate Calculater","index":1,"n_rows":42,"n_cols":10,"rows_kept":42,"cut":false,"hidden":false,"merged":[[15,1,15,10],[27,1,27,9],[10,1,10,10],[30,1,30,10],[24,1,24,9]]}
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[null,"MINIMUM REVENUE NEEDS"]
[]
[null,"Expected Total Overhead Your First Year:",null,null,null,null,{"$f":"'Law Firm Starting Budget'!C44","v":0}]
[null,"Carried over automatically from the previous worksheet."]
[]
[null,"How much after-tax income do you need to cover your living expenses?",null,null,null,null,null,null,null,0]
[]
[null,"What is your estimated effective income tax rate?",null,null,null,null,null,null,null,0.33]
[null,"Of course, your actual income taxes rates will differ based on brackets of your income and the entity structure from which you derive income. You should consult with an accountant for guidance regarding your actual tax obligations.This calculater is merely provided to give you a ballpark estimate of your business and budgetary needs. It cannot offer tax advice or tax guidance."]
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[null,"Expected Minimum Revenue Needs",null,null,null,null,null,null,null,{"$f":"G10+(J13/(1-J15))","v":0}]
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[null,"HOURLY RATE CALCULATER"]
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[null,"How many hours per week are you willing/able to work?",null,null,null,null,null,null,null,45]
[null,"Edit this field to reflect the schedule you anticipate."]
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[null,"Expected utilization rate (hours billed to the client v. hours worked)",null,null,null,null,null,null,null,0.4]
[null,"This is the rate at which the hours you work are actually billable hours that can be invoiced to the client. Some studies indicate that solo and small firm attorneys may only bill only a fraction of their time, with the rest going to administrative or non-billable tasks."]
[]
[null,"Effective billing rate",null,null,null,{"$f":"J24*J27","v":18},"hours per week",null,{"$f":"F30/5","v":3.6},"hours per day"]
[null,"Calculated automatically based on your utilization rate."]
[]
[null,"Annual billing capacity",null,null,null,null,null,{"$f":"365-C35-C36-C37","v":230},"days available each year for work"]
[null,"Calculated automatically. Billing Capacity assumptions (edit to adjust the calculation):"]
[null,null,21,"Vacation/Sick Days or Time Off"]
[null,null,104,"Weekend days (Saturday and Sunday)"]
[null,null,10,"Federal Holidays"]
[]
[null,"Expected Billable Hours Annually",null,null,null,null,null,null,null,{"$f":"I30*H33","v":828}]
[]
[null,"Hourly Rate",null,null,null,null,null,null,null,{"$f":"J19/J39","v":0}]
[null,"(calculated as your minimum revenue needs divided by your annual billable hour expectation)"]

{"sheet":"Flat Fee Calculater","index":2,"n_rows":22,"n_cols":9,"rows_kept":22,"cut":false,"hidden":false,"merged":[[21,1,21,5],[19,1,19,7],[16,1,16,7]]}
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[null,"Annual Minimum Revenue",null,null,null,{"$f":"'Revenue and Rate Calculater'!J19","v":0}]
[null,"Automatically calculated from Revenue and Rate Calculater worksheet"]
[]
[null,"Expected Billable Hours Annually",null,null,null,{"$f":"'Revenue and Rate Calculater'!J39","v":828}]
[null,"Automatically calculated from Revenue and Rate Calculater worksheet"]
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[null,"FLAT FEE CALCULATOR"]
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[null,"Average time commitment from start to finish:",null,null,null,null,null,0," hours"]
[null,"Add an estimate her for the average number of hours (including fractions of an hour) that it takes to complete the project. You can base this off of historical data for past projects and/or an estimate based on experience. \n\nFor flat fee cases, you should always be tracking your time for your own reference, so that you can identify how far your estimate veers from the actual labor cost. If you are consistently underestimating your labor costs, you are costing the business revenue. "]
[]
[null,"Margin of error",null,null,null,null,null,0.1]
[null,"Each fee is an estimate of the labor and time involved. You should factor in a margin of error, especially if you do not have enough data to create a reliable average for your estimate."]
[]
[null,"Flat Fee Price",null,null,null,null,{"$f":"((F8/F11)*H16)*(1+H19)","v":0}]