Law Firm Management

NJ Senate Bill 3246 established the "business alternative income tax" (BAIT), an elective business tax regime for pass-through entities. Law firms are left wondering if electing to pay the BAIT is the right choice. This article summarizes how the NJ BAIT works, as well as its pros and cons.

Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?

Budget season is in full swing at firms whose fiscal year matches the calendar year, and leaders are exercising a newfound scrutiny over every component of next year's spending as they prepare for an uncertain 2021.

The election of Joe Biden as President may clear the way for many changes in the retirement planning landscape.

During the COVID-19 pandemic, law firms have learned that a large number of "essential" services and Standard Operating Procedure rules and assumptions about how an office works are 1950's myths that need to be identified, examined and re-engineered or discarded.

The pandemic has forced law firms to reevaluate their expenses, refine their budgets, and review their overall operations to adapt to an environment of perpetual uncertainty.

One of the keys to success in competitive intelligence is communication. Effective communication builds rapport with your clients, which, in turn, builds trust and instills confidence that you will be able to get what they need to achieve their goals. In the last few months, this element of trust and rapport has never been more important.

The recent move to more remote work environments has prompted many to take a second look at not only e-Signature solutions but also remote online notarization. In order to support transactional practice groups and legal department in making the transition to electronic signing and closings, one must understand the challenges and opportunities of these technologies.