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Money and Finances
Reply to "Yes, tiny violin - did anyone else struggle first years of law partnership?"
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[quote=Anonymous]The structure of compensation at firm is making things tough. Monthly take is quite a bit lower than pre partnership and the overhead and mandatory retirement eat into the bottom line, a lot. Also the draws have not even been close to enough to cover tax installments, like $40k less. We can’t save when the lower monthly payment is so much lower. Just, not comfortable right now, and I naively thought we would be. It’s only the second year, so maybe it will get better, I guess. This year just sucked because we had to use most of the end of the year payout from last year for taxes in April. Sigh. [/quote]
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