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The Tax Cuts and Jobs Act made significant changes to certain Internal Revenue Code provisions dealing with highly compensated employees. Among these are restrictions (in the form of excise taxes) on compensation of certain highly paid employees of “applicable tax-exempt organizations.”
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Here are some common retirement planning pitfalls that lawyers often experience.
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If you listen to the marketplace, you will know what to do in connection with client growth and client retention. Are firms listening to this advice?
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A lawyer can utilize the platform of media outlets to share insights that will develop business by attracting the attention of potential clients and referral sources.
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Despite all the strategic planning CMOs may devote to individual attorney coaching and training, it is often not enough to support the lawyer client in connecting the dots of relationship building, reputation enhancing and contact management over the course of a career to make a remarkable difference.
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While 401(k) cashout leakage may not stink in our streets, its economic effects are deplorable. Each year, this slow-motion train wreck robs millions of Americans of their retirement security and converts their retirement savings into wasted consumption and avoidable tax penalties.
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<b><i>With an Eye on Efficiency, Firms Are Ditching Old Methods for a More Corporate Form of Governance</b></i><p>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.
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To achieve your highest potential, to be more “actualized,” you must embrace your leadership style. What is your style? Are you an Achiever, Affirmer, or Asserter? Which of the Nine Attributes of Actualized Leaders do you need to focus on to improve your leadership?
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Financial stability within a law firm practice does not guarantee harmony within the partnership itself — far from it. Law firm management that does not acknowledge or reflect the importance of firm leadership and the contributions and needs of its members endangers a firm's cohesiveness and its very existence, no matter how many clients come through the front door.
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For members of a conservative industry that — literally — wrote the rulebook on sexual harassment, law firms need to be ready for a day of reckoning that seems inescapable (and may have already happened by the time this article is published).