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This week on the show we have James F. Aspell, the principal and managing attorney of the firm which he started in 2006 following 20 years of litigation practice in a mid-size firm in Hartford, Connecticut. Jim focuses his practice in the areas of worker's compensation and personal injury litigation, insurance subrogation law, social security disability law, personal bankruptcy, and residential real estate.
In today’s episode we’ll talk about starting from scratch, his decision to niche down, and his current transition.
Jim recommends the book Built to Sell, it's about how to set up your
company to be saleable when the time comes for you to get out of the firm.
Get an accountant right off the bat. I would urge anybody, considering doing that, to get a good accountant that's actually familiar with small business. They can guide you on the type of entity choice to pick S Corp, LLC, and can put you on the right path in terms of payroll so you don't run afoul of payroll taxes and those kind of things.
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