Features
Old Dog, New Tricks: Time to Retire Associate Lockstep Compensation
This article maps out a system that would enable law firm management to implement a meaningful pay-for-performance system that drives positive associate performance and enhances the firm's culture.
Features
Determining Law Firm Employee Classification Through the ABC Test
Law firms have traditionally been large consumers of contract labor for a variety of purposes. These workers are traditionally classified as independent contractors, issued a 1099 and treated as ineligible for employee benefits. In recent years, many states have started to adopt the "ABC" test to determine whether a worker should be classified as an independent contractor or an employee.
Features
Online Extra: Law Firms Doubling Down On Billing Discipline Amid Demand Decline
Some large law firms are doubling down on billing discipline, as Big Law clients take longer to make payments and the legal industry continues to see demand declines.
Features
How Modern Law Firms Are Navigating Digital Transformation
A new report emphasizes the connection between legal technology and law firm success, the importance of training to ensure technology adoption, the influence of automation and document management on digital transformation, and how law firms are deploying data to create a competitive advantage.
Features
Is Consolidation Coming to a Firm Near You?
Automate Onboarding & Offboarding Processes for Smoother Transitions Questions about the role of AI in the legal market continue to dominate current headlines, but firm consolidation remains a big part of the transformation the industry is undergoing. And yes, technology and automation are playing key parts in this. As firms merge or acquire others to expand their capabilities and client base, a streamlined approach to attorney onboarding and offboarding has become essential.
Features
The Future of IRS Summonses After Supreme Court 'Poselli' Ruling
In Polselli v. Internal Revenue Service, the U.S. Supreme Court unanimously refused to limit the IRS's ability to issue summonses without notice to situations in which it seeks records of accounts in which a delinquent taxpayer has an interest. This article discusses the court's decision, Justice Jackson's concurring opinion, and the potential for future challenges to the IRS's issuance of summonses without notice.
Features
New Report Looks At the Expanding Influence of Legal Operations
The economy, technology, and practice preferences continue to influence a reconfiguration of the corporate legal department in a post-pandemic period.
Features
The Business Benefits of Leasing When Combatting the Increasing Costs of Operating a Firm
There's a wide range of business benefits to leasing that help firms better manage current market challenges beyond cash management — so we asked our law firm clients what they saw as the most compelling business benefits of leasing in today's challenging economy.
Features
Is Non-Lawyer Ownership of Law Firms Coming Soon?
Powerful forces are now pushing regulators in the direction of non-lawyer ownership of law firms in the United States. Some of the forces are completely well-intentioned, but some of the forces are not so well-intentioned.
Features
Should Law Firms Make Pass-Through Entity Tax Elections?
As a result of the TCJA, the owners of pass-through entities are limited in the amount of state and local taxes they can deduct on their Federal income tax return. In response, over 25 states have enacted pass-through entity tax regimes, which allow the owners of law firms to preserve their state and local tax deduction on their income from the law firm.
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