A tax nightmare could face big law firms and other multistate service providers if the U.S. Supreme Court this term requires retailers to collect sales taxes in states where the business has no physical presence.
May 01, 2018Marcia Coyle
Most of the time, delayed payments are a result of actions by the law firms themselves. Let's take a look at 11 factors impacting the collection of attorney fees on a timely basis and how to avoid these mistakes.
April 01, 2018Peter OlivaWith an Eye on Efficiency, Firms Are Ditching Old Methods for a More Corporate Form of Governance
A growing number of firms in the United States and the United Kingdom are eschewing historical partnership norms in favor of more centralized management, and with that comes fewer and fewer partnership votes.
April 01, 2018Gina Passarella CiprianiThe increasing competition in the legal industry highlights the importance of differentiation and adding value beyond the work product. Face-to-face interactions with clients are a critical component in differentiation because they provide the opportunity to understand better the nuances of clients' businesses, develop deeper relationships, and drive productive collaboration.
April 01, 2018Brook W. Redmond and Ali C. FerroHow the Recent Heller Ehrman Case Impacts Lawyer Mobility and Clients Choice of Counsel
The law of unfinished business, as applied to cases billed on an hourly basis, has been the subject of much commentary and case law. In Heller Ehrman, the high California court, like the New York Court of Appeals, found that a dissolved law firm did not have a property interest in hourly matters for work performed after dissolution. The case is worth exploring as it impacts, among other things, lawyer mobility and clients choice of counsel.
April 01, 2018Arthur J. CiampiIt's now been 10 years since the economic crisis of 2008, and just under 10 years since we saw the greatest dip in demand for services experienced by the legal market. The market has stabilized since then, but growth has remained, year-over-year, flat. The Thomson Reuters 2018 Report on the State of the Legal Market shows this trend will continue as we see a market characterized by flat to sluggish growth, a continued decline in productivity, modest rate increases and the continued downward pressure on realization.
March 01, 2018Rob MatternThe new law offers two obvious potential benefits: a 20% deduction for pass-through entities such as partnerships, and a 21% tax on corporations.
March 01, 2018Meredith HobbsThis article describes the provisions of the Act most likely to impact law firms.
February 01, 2018Marcus DyerUnder the Tax Cut and Jobs Act, should certain employees of a tax-exempt organization receive compensation greater than $1,000,000 during the tax year from any combination of a tax-exempt organization and/or its related organizations, the organizations would be subject to an excise tax on that employee's compensation in proportion to their payments to the employee.
February 01, 2018Lawrence L. BellStop Obsessing About the Millennials (for Now)
For decades, members of Generation X have been stuck between two behemoth, attention-draining generations, wondering if they would forever be relegated to back-bench leadership — mere seat-warmers for ambitious millennials waiting for baby boomers to retire. Now, as boomers slowly face their own mortality and aging bodies after a lifetime of devotion to work, there is no longer a need to question whether Gen X will have an opportunity to lead.
February 01, 2018Lauren Still Rikleen
