Law Firm Management

The new law offers two obvious potential benefits: a 20% deduction for pass-through entities such as partnerships, and a 21% tax on corporations.

Business Development Leadership

Part One of a Two-Part Article

If you were hoping I would define leadership for you, I can't. What we will address includes zombies, stampeding horses, a former King of Prussia and how they fit in with the six primary elements of exceptional leadership.

This article describes the provisions of the Act most likely to impact law firms.

Under 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.

Stop 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.

When it comes to law firm business, not everyone is depressed about the slow growth that plagued many firms in 2017, and that's predicted to persist into the new year. Or at least they won't admit it.

Law firms face all kinds of problems when they try to cultivate a business development culture. The guiding principle for overcoming these obstacles is to find strategies that lawyers can get excited about. People are more willing to be engaged in projects that are interesting and exciting. Here are ten tips for building a business development culture.

The Rolling Stones Were Wrong — Time Isn't on Your Side

Almost every business owner loathes worker's compensation insurance — costs are high and can go up significantly in the event of a claim or multiple claims. Also, worker's comp can be a cost center that is heavily impacted by fraud and abuse. If employers can control the number and severity of claims and lower worker's comp costs, they can put the money to better use.