Features
IRS Issues Revenue Procedure 2012-17
On Feb. 13, 2012, the Internal Revenue Service issued Revenue Procedure 2012-17, which in part provides that partnerships may furnish their partners with an electronic copy of their Schedule K-1 if the partner has affirmatively consented to receive the K-1 in electronic format, such as in pdf form in an e-mail.
Features
The Billable Hour Is Not Dead!
Firms are increasingly using alternative fee structures to meet clients' demands for billing based on the perceived value they have received. This article discusses the reasons why, regardless of your firm's method of billing clients, it is still critical to track attorney billable and non-billable hours.
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Profitability and the Legal Marketing Professional
This article provides for the legal marketing professional a guide to the basics of law firm economics, and includes sample metrics and ideas as to how to improve the contributions of the marketing department to the bottom line of your law firm.
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Sales Speak: Making It Rain
While rainmaking is probably one of many good reasons an individual is moved into an Office Managing Partner leadership role, the more distance from the day-to-day requirements for rainmaking, the more inevitable is the erosion of those skills.
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Content Marketing and Web Analytics
The information generated by web analytics is a valuable tool to help lawyers and law firms plan ' and continuously improve ' their content and their online content distribution campaigns.
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Proceed with Caution!
Law firms are trying to shift from survival tactics to the "New Normal" by addressing, not only the challenges they face, but also the changes they may have to make. However, there are few precedents for addressing many of the concerns.
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Is Good Enough Good Enough?
Not doing something how others expect it to be done or not getting the result others anticipate or assume will be had can give rise to resentment, loss of trust, and ruined client relationships.
LEADING LAW FIRM RAINMAKERS - Part II.
LEADING LAW FIRM RAINMAKERS - Part II. Continuing commentary from top rain makers in the U.S. " . . . go where there are people willing to invest in [your] training and offer real opportunities to build a book of business." " . . . believe strongly in mentorship as a key component in law firm business development." " . . . never overlook anyone. The associates and junior business people of today are the gatekeepers of tomorrow." Note, no…
LEADING LAW FIRM RAINMAKERS - Part I.
LEADING LAW FIRM RAINMAKERS - Part I. There will be no commentary, just their quotes which say it all! " . . . lawyers need to be not only expert practitioners, but also must know how to build relationships and market themselves." " . . . focus on business development with the junior people at [your] level in your clients' offices." " . . . the trick for a new lawyer is to focus on generating new relationships as…
Features
Marketing Tech: Four Technology Trends Changing Law Firm Marketing and Business
Although mobile shopping and electronic wallets are expected to grow significantly this year, neither will have any noticeable impact on law firms or the practice of law. What, then, are the technology trends that law firms should pay attention to and how will they uniquely impact the legal industry?
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- Top 5 Strategies for Managing the End-of-Year Collections FrenzyEnd of year collections are crucial for law firms because they allow them to maximize their revenue for the year, impacting profitability, partner distributions and bonus calculations by ensuring outstanding invoices are paid before the year closes, which is especially important for meeting financial targets and managing cash flow throughout the firm.Read More ›
- The Self-Service Buyer Is On the RiseLaw firms and companies in the professional services space must recognize that clients are conducting extensive online research before making contact. Prospective buyers are no longer waiting for meetings with partners or business development professionals to understand the firm's offerings. Instead, they are seeking out information on their own, and they want to do it quickly and efficiently.Read More ›
- Should Large Law Firms Penalize RTO Rebels or Explore Alternatives?Through a balanced approach that combines incentives with accountability, firms can navigate the complexities of returning to the office while maintaining productivity and morale.Read More ›
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- Tax Treatment of Judgments and SettlementsCounsel should include in its analysis of a case the taxability of the anticipated and sought after damages as the tax effect could be substantial.Read More ›