Thinking about selling your firm someday, or wondering what's driving all the private equity deals in professional services? Sarah, Lynda, and Steve sit down with Randy Crabtree, CPA, co-founder and partner of Tri-Merit Speciality Tax Professionals and his son Matt Crabtree of Breakaway Advising for a candid, father-and-son look at the M&A world. Matt brings the advisor's perspective, and Randy shares what it's really like to go through a transaction after pivoting from the specialty tax firm he founded 20 years ago.

They talk about why due diligence has gotten so much tougher since COVID, the $3.7 trillion in private equity "dry powder" fueling today's deals, why professional services firms are such hot targets, and why the right buyer can matter more than the highest offer. Matt also shares his "Four T's" of preparing to sell (Time, Talent, Traction, and Transparency), plus why you should start getting ready about five years before you go to market.

Along the way, the group digs into AI, training the next generation, and why change in the profession is more exciting than scary.

00:25 Introduction to the Crabtree Family and Their Expertise
03:17 The Current State of Mergers and Acquisitions
06:13 The Impact of COVID-19 on M&A Dynamics
09:14 Preparing for Sale: Timing and Strategy
12:06 Personal Experiences in Business Transitions
15:02 The Role of Culture in M&A Transactions
17:55 Navigating Post-Sale Challenges
20:57 The Future of M&A in Professional Services
23:42 The Influence of AI on Business Valuation
27:26 Private Equity and Market Dynamics
28:22 The Wild West of AI in Business
29:37 Navigating the Private Equity Landscape
32:21 Generational Shifts in Work Ethic
33:15 Embracing Change in Professional Services
38:17 Preparing for Business Transactions
40:21 The Four T's of Selling a Business
44:29 Building a Strong Advisory Team

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Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed, produced, and edited by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.

"Do you have time for a quick question?" might be the most loaded phrase in professional services. In this episode, Sarah Prevost and Steve Libhart dig into client communication and boundaries from both sides: how attorneys manage their own clients, and how accountants and bookkeepers manage their attorney clients.

They talk through why attorneys are trained to question everything (and why that isn't personal), a better alternative to the "quick question," and how unexpected requests like class accounting can become a scope creep conversation and a new revenue opportunity. Steve shares how posting unexplained transactions to owner's draw finally got a busy attorney's attention, and Sarah explains why she keeps an eye on client threads when a new CFO or COO enters the picture.

They also cover sending preliminary reports when answers don't come in, supporting team members who feel stuck in the middle, working backward from the solution before asking for help, knowing when to let a client go, and the rise of "expandable deadlines" with a new generation of business owners.

00:25 Introduction and overview of communication challenges
02:18 Differences between legal and accounting communication styles
04:26 The importance of setting boundaries and expectations
06:22 Handling quick questions and managing scope creep
08:24 Tools for respectful and effective communication
10:28 Onboarding processes and managing client relationships
12:25 Dealing with difficult clients and boundary setting
14:21 The impact of generational communication differences
16:23 Managing emotional responses and scope creep
18:18 The role of organization and SOPs in communication
20:24 Using proactive tools to address communication issues
22:29 The importance of patience and strategic responses
24:22 Handling internal team dynamics and client interactions
26:17 Adapting communication for different practice areas
28:11 The future of communication with younger generations

🔔 Subscribe for weekly episodes covering law firm bookkeeping, legal tech, and accounting practice tips.

📩 Have a question or topic idea? Email us at info@accountantslawpod.com

🧑‍💼 Join the Accountants Law Lab Mastermind: accountantslawlab.com

🌐 Visit us at accountantslawpod.com

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed, produced, and edited by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice. The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.

Engagement letters aren't just paperwork, they're your best defense against scope creep. In this episode, Sarah and Lynda dig into what makes a strong engagement letter for legal bookkeepers and accountants working with law firms.

They cover why signature authority matters (and what happens when it's ignored), how to define the entity and responsible party up front, and why listing out bank accounts, IOLTA accounts, and loans by name protects you when a client suddenly opens ten more accounts.

They also talk through start dates versus signing dates, weekly versus monthly billing, cancellation and termination clauses, and what happens to records when an engagement ends.

Along the way, they share real stories, including one that almost ended in a client asking for a full refund after work was already completed, plus practical advice on client responsibilities and deadlines, trust account language, software access and confidentiality, and why tools like Ignition can save you from chasing down expired credit cards.

Whether you're just starting to work with law firms or you've been at it for years, this episode is full of the practical, hard won lessons every legal bookkeeper needs in their contract.

00:25 Introduction and Engagement Letters Overview
03:26 The Importance of Engagement Letters
06:23 Defining Scope and Responsibilities
09:33 Handling Changes and Cancellations
12:22 Client Responsibilities and Deadlines
15:21 Software and Technology in Engagements
18:28 Trust Accounts and Compliance

🔔 Subscribe for weekly episodes covering law firm bookkeeping, legal tech, and accounting practice tips.

📩 Have a question or topic idea? Email us at info@accountantslawpod.com

🧑‍💼 Join the Accountants Law Lab Mastermind: accountantslawlab.com

🌐 Visit us at accountantslawpod.com

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed, produced, and edited by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.

Revenue is not the same as profit, and this episode dives into exactly why.

Lynda, Sarah, and Steve unpack what "truly profitable" actually looks like for a law firm, from net profit margins and gross profit per matter to profitability per partner and attorney. They talk through the real cost of scope creep, why busy doesn't mean profitable, how retainer balances can be misleading, and why write-offs quietly hurt your bottom line more than you think.

The conversation also covers marketing spend and ROI tracking, billing realization rates, the pros and cons of flat fee versus hourly billing, and how to build in the right cash cushion during periods of growth.

If you've ever looked at your P&L and wondered whether the number at the bottom is really telling you the full story, this episode is for you.

00:15 Understanding Law Firm Profitability
05:31 Analyzing Expenses and Overhead
10:39 Marketing Strategies for Law Firms
14:58 Evaluating Client Profitability
15:26 The Importance of Tracking Marketing ROI
18:16 Understanding Pricing and Collections
21:02 The Balance Between Busy and Profitable
25:05 Navigating Flat Fee vs. Billable Hour Models
30:15 Intentional Growth and Client Relationships

🔔 Subscribe for weekly episodes covering law firm bookkeeping, legal tech, and accounting practice tips.

📩 Have a question or topic idea? Email us at info@accountantslawpod.com

🧑‍💼 Join the Accountants Law Lab Mastermind: accountantslawlab.com

🌐 Visit us at accountantslawpod.com

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed, produced, and edited by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.

Partnership accounting changes everything, and most law firm bookkeepers find out the hard way.

In this episode Lynda Artesani, Sarah Prevost, and Steven Libhart break down exactly what happens to a firm's finances when a new partner enters the picture.

From setting up capital accounts and documenting buy-ins correctly, to understanding the difference between a partner draw and a salary, to navigating the equity versus non-equity partner distinction, this is the practical, real-world guide to partnership accounting that every legal bookkeeper needs in their toolkit.

The team also covers eat what you kill compensation models, guaranteed payments, K-1 reporting, and what to do when a partner exits. If you have a law firm client that is or ever will be a partnership, this one is required listening.

02:20 Navigating Partnership Changes
06:30 Understanding Partnership Agreements
12:01 Compensation Models in Partnerships
18:01 The Complexity of Bookkeeping in Partnerships
24:13 Final Thoughts on Partnerships

🔔 Subscribe for weekly episodes covering law firm bookkeeping, legal tech, and accounting practice tips.

📩 Have a question or topic idea? Email us at info@accountantslawpod.com

🧑‍💼 Join the Accountants Law Lab Mastermind: accountantslawlab.com

🌐 Visit us at accountantslawpod.com

Has a client ever added a partner without telling you first? Drop it in the comments. We want to hear the story.

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed, produced and edited by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice. The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.

Burnout is real, and it hits legal bookkeepers and accountants harder than most people realize.

In this candid episode, Sarah Prevost and Steven Libhart dig into what burnout actually looks like in the day-to-day: the mental load of trust accounting, the disruptive phone calls, the feeling of always being "on call" for clients.

They talk through practical ways to set healthy boundaries without damaging client relationships, why giving yourself permission to disconnect matters, and how small daily rituals, walks, painting, watching fish, whatever it is, can protect your energy long term.

The conversation also touches on niching down (like specializing in cleanup work only), planning around the industry's natural slow season, and why celebrating the small wins matters just as much as the big ones.

A grounding, honest episode for anyone in this profession who's stretched thin and needs permission to slow down.

00:29 Burnout Topic Setup
02:01 A Morning Overload
05:30 Give Yourself Space
06:12 Disconnect And Delegate
09:00 Midday Reset Rituals
10:25 Unwanted Advice Stress
12:13 Signs Of Burnout
14:01 Grace And Morning Routines
14:47 Setting Client Boundaries
16:25 Scripts For Saying No
18:30 Travel Days Communication
19:27 Billing on the Road
19:50 Vacation Guilt and RV Work
20:53 Speak Up for Your Needs
22:58 Plan Rest to Avoid Burnout
23:29 Grace and Daily Recovery
24:27 RV Repairman Lifestyle
26:57 Permission to Pivot
29:52 Work Models and Seasons
31:23 Closing Gifts and Self Care

🔔 Subscribe for weekly episodes covering law firm bookkeeping, legal tech, and accounting practice tips.

📩 Have a question or topic idea? Email us at info@accountantslawpod.com

🧑‍💼 Join the Accountants Law Lab Mastermind: accountantslawlab.com

🌐 Visit us at accountantslawpod.com

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed, produced, and edited by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.

Attorney fee structures are shifting fast, and AI is a big reason why.

In this episode, Lynda, Sarah, and Steve dig into what's driving the polarization between skyrocketing hourly rates at top firms and the growing push toward alternative fee arrangements, fixed fees, phased billing, and evergreen retainers.

They talk through the fear attorneys have around underpricing fixed fee work, how AI-driven efficiency is forcing firms to rethink the value they charge for, and why practice management software and clean time tracking matter more than ever in this shift. The conversation also touches on personal injury contingency models, state-by-state variation in billing rules, and whether AI will ever really replace the human judgment attorneys bring to emotionally complex cases.

A thought-provoking listen for anyone watching how legal billing is evolving in real time.

01:07 Attorney Fees Topic
02:37 AI and Pricing Pressure
03:31 Skyrocketing Hourly Rates
04:15 Alternative Fee Arrangements
05:34 Client Pushback and Line Items
06:42 Fixed Fees and Divorce Risk
07:35 Data Tracking and Realization
10:37 Revenue Management Mindset
20:05 AI Tools and Practice Software
22:04 Humans Still Matter
23:23 Rules Trust Accounting and Future

Legal Billing Rates in 2026: What to Negotiate and How to Reduce Outside Legal Spend
Value Billing Is Coming And Will Reshape the Legal Industry

🔔 Subscribe for weekly episodes covering law firm bookkeeping, legal tech, and accounting practice tips.

📩 Have a question or topic idea? Email us at info@accountantslawpod.com

🧑‍💼 Join the Accountants Law Lab Mastermind: accountantslawlab.com

🌐 Visit us at accountantslawpod.com

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed, produced, and edited by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.

Teaira is still on her honeymoon, so we're revisiting a fan favorite! Hosts Linda Artesani, Sarah Prevost, and Steven Libhart break down the accounting concepts that confuse even the most experienced attorneys, and explain why getting them right matters so much.

In this episode:
Trust accounts vs. IOLTA vs. operating accounts, and why keeping them separate protects you

Why reconciling monthly (or even weekly) beats waiting for quarterly deadlines

What commingling actually looks like in practice, and how easily it happens by accident

Why "just open a new bank account" is never the fix for a messed-up trust account

Why an overly detailed chart of accounts creates more headaches than it solves

When to bring a legal accounting professional onto your team (hint: earlier than you think) The ongoing debate over passing credit card fees on to clients

Whether you're an attorney trying to make sense of your firm's books or a bookkeeper building your legal accounting niche, this episode is full of real talk and practical clarity.

01:43 Trust Accounts Basics
02:52 Reconciliation Habits
05:09 Commingling Pitfalls
06:40 Hire Accounting Help Early
08:34 Chart of Accounts Mistakes
10:48 Profit vs Cash Confusion
13:00 Legal Accounting Community
14:11 Bad Trust Accounting Advice
14:52 Untangling Years of Errors
15:36 Why New Accounts Fail
17:33 Compliance Risks and Squirrels
17:57 Owner Oversight and Workflows
19:45 Billing Systems and Cleanup Projects
20:34 Credit Card Fees Debate
22:24 Client Experience and Responsiveness
25:17 Testing Fee Models and Cashflow

Accountants Law Pod is hosted by Lynda Artesani, Sarah Prevost, and Steve Libhart and directed/produced by Teaira Burge and The Proper Trust. Music by ComaStudio from Pixabay - Edited by audiovideo_uk

Disclaimer: The content presented in this podcast is for informational purposes only and should not be considered as legal, financial, or professional advice.

The stories we share from the field are meant to educate, never to shame. We have deep respect for attorneys and the complexity of running a firm, and we recognize that many of the mistakes we discuss happen simply because no one ever explained the rules.