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We found 2,033 results for "Accounting and Financial Planning for Law Firms"...

Law Firm Profitability Expected to Be Stable for 2020 Despite Decreased Revenue
October 01, 2020
Economists are increasingly gravitating to the concept of a "K-shaped" recovery following the steep plunge of the early days of the coronavirus crisis. With a slight tweak, that "K" may well serve as a useful depiction of law firm profitability in 2020: just add a horizontal third line at the center.
Undercutting the Cost of Underperforming Attorneys
September 01, 2020
As a firm leader it is your fiscal responsibility to address underperforming attorneys. With COVID-19 are your underperformers flying under the radar? The cost to a firm is not only to the bottom line, but to your reputation as a leader.
Ransomware – COVID-19 & Upgrading Your Defenses
September 01, 2020
It's pretty shameful that in the current crisis we're seeing ransomware on the rise. It's even more shameful that organizations involved in fighting the virus seem to be especially at risk.
COVID-19 and Working Remotely: Embracing the Changes and the Challenges in a Pandemic
September 01, 2020
The idea of working together while apart has prompted many law firms to reevaluate and analyze their strategies for operating safely, securely and efficiently. In this roundtable discussion these experts share their experience and insight on driving productivity and engagement during these uncertain times.
Technology Investments for Law Firms Moving Forward Post-COVID
September 01, 2020
We're never going back the way we were — and this will be to the benefit of firms, profitability, clients and lawyers if we make the right technology investments. Here's some specific ways firms can capture these benefits.
The SECURE and CARES Acts Change Required Minimum Distributions
September 01, 2020
A key aspect of saving for retirement through qualified retirement plans and IRAs is deferring taxes until required minimum distributions (RMD) begin. Even with Roth IRAs, beneficiaries who inherit them must also follow RMD rules despite the tax-free treatment of the distributions. The SECURE Act and the CARES Act made dramatic changes in RMD rules for 2020 and beyond.
Buying In to the ALSP Market
September 01, 2020
Some Firms Are Forming Subsidiaries to Deliver Legal Services In New Ways Buyers have a broader slate of options in 2020 than ever before, whether that means handling more work in-house, hiring temporary lawyers during a crunch, or turning to a recently launched "alternative provider" to address the massive pile of contracts they need to manage.
COVID-19 and Working Remotely: Embracing the Changes and the Challenges In a Pandemic
August 01, 2020
Experts share their experience and insight around workplace trends and the value of technology tools to drive productivity and engagement in a roundtable discussion.
Legal Office of the Future — Reimagined
August 01, 2020
Many in the legal economy may be asking themselves whether they need office space at all now that everyone has been forcibly migrated to cyberspace. But having experienced work from home for several months, there is a newfound appreciation for the office workplace. But what will the office look like when we return to it?
Cash Flows for Commercial Leases During COVID-19
August 01, 2020
To say the least, for those companies that filed for bankruptcy on the eve of the COVID-19 shutdowns, the strategies — and available cash flows to pay landlords — did not go as planned.

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  • Navigating the Attorney-Client Privilege and Work Product Doctrine in Bankruptcy
    When a company declares bankruptcy, avoidance actions under Chapter 5 of the Bankruptcy Code can assist in securing extra cash for the debtor's dwindling estate. When a debtor-in-possession does not pursue these claims, creditors' committees often seek the bankruptcy court's authorization to pursue them on behalf of the estate. Once granted such authorization through a “standing order,” a creditors' committee is said to “stand in the debtor's shoes” because it has permission to litigate certain claims belonging to the debtor that arose before bankruptcy. However, for parties whose cases advance to discovery, such a standing order may cause issues by leaving undecided the allocation of attorney-client privilege and work product protection between the debtor and committee.
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  • Revised Proposal: Understanding the Interagency Statement on Complex Structured Finance Activities
    Many U.S. financial institutions that have participated in equipment leasing transactions (particularly in the large-ticket and municipal markets) in the last 20 years will be keenly aware that as the structures grew ever more complicated, Congress and the federal regulatory agencies grew intensely interested. Whether the institution had a major role in the transaction or simply provided a service, some degree of scrutiny could be expected, often in conjunction with a tax audit of its client. The risks to financial institutions from participating in complex structured finance transactions of all types became a source for concern for banking and securities regulators. The principal federal regulators responded in 2004 with a proposal that financial institutions investigate, and bear responsibility for evaluating, the legal, tax, and accounting basis of their clients' complex structured finance transactions. The goal: to limit the institutions' own credit, legal, and reputational risk from such participation.
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