Addressing Tax Issues Throughout the Year: There Is No Better Time to Start Than Now
Even though 2007 has come and gone, it is not too late ' it is never too late ' to think about tax planning and tax issues affecting your law firm. What still can be addressed now in 2008 that can impact your tax return for 2007? What tax issues can be addressed that can impact 2008? This article provides a list of items to review internally with your financial team and externally with your tax adviser.
In the Marketplace
Highlights of the latest equipment leasing news from around the country.
A Primer on Foreign Language e-Discovery
While e-discovery may be Greek to many, it is those documents written in Chinese, Japanese, Korean and Russian that cause much of the trouble for companies ' bricks-and-mortar and 'e' alike ' when documents must be collected, reviewed, redacted and presented.
The Changing Face of Chapter 11
The face of bankruptcies in corporate America has changed multiple times since the reforms of 1978. And it's going to change once more ' probably radically ' over the coming months. This article explains.
Rent Abatement Clauses: Tenants Should Speak Softly, But Draft a 'Club'
In commercial lease transactions, a tenant's desire and need to occupy a space and begin transacting business often takes precedence over a landlord's ability to complete all of the bargained-for physical alterations that it has promised. The issue of determining the diminished value of the premises prior to the completion of the landlord's work is customarily resolved through the negotiation of rent abatement provisions that quantify damages where delays in the landlord's construction would lead to a breach of contract.
Ancillary Businesses Losing Appeal
Law firms once dreamed of owning separate businesses to bring in new streams of revenue, and while some achieved that goal, the industry is now largely backing away from a strategy that provided little economic benefit.
FIN 48: Accounting for Uncertain Income Tax Positions
This article provides a brief overview of the two-step, benefit-recognition approach implemented by FIN 48, a summary of the disclosures required by FIN 48, and a discussion of issues associated with protecting FIN 48 compliance documentation from disclosure to taxing authorities.
Update on Lawyer Retirement Perspectives
In the newly released Altman Weil Flash Survey on Lawyer Retirement, only 38% of lawyers agreed with the enforcement of mandatory retirement provisions in law firms. However, 50% of respondents reported that their firms currently have mandatory retirement policies. These findings may encourage more discussion and possibly policy changes in U.S. law firms.
