IRS Seeks to Regulate Partnership Basis Adjustments
September 01, 2024
The proposed regulations would disallow basis adjustments in many non-abusive scenarios where those basis adjustments are necessary to achieve tax results that correspond to economic reality.
The Case for Building a Documentation Plan On Business Owner Compensation
September 01, 2024
Business owners, among their numerous tasks, should seek to minimize income taxes as they would any other expense, of course accommodating to the extent necessary the needs of their business. In this regard, building a documentary record to support the various tax positions being taken may preserve an income tax deduction that otherwise would be lost
What Financial Questions Should You Ask Your Client?
August 01, 2024
If you open the door to helping clients with financial planning, it can also make sense that a law firm might address the same concerns internally. In that case, the financial planning questions a forward-thinking attorney might ask of a client are also questions that attorney should be considering in their own life.
Effectively Managing Partner Autonomy
August 01, 2024
The past decade has brought a significant rise in internal conflict within partnerships. Partners are wielding their autonomy to speak out (often forcefully) in favor of or opposition to broader firm decisions. This dynamic is leaving many law firms at a disadvantage.
Ethical Obligations and Risks of Engaging a Temporary Attorney
August 01, 2024
It is not uncommon for practitioners and law firms to employ the services of temporary (or contract) attorneys as the need may arise in contemporary practice. This article discusses the ethical obligations and associated risks that flow from engaging the services of a temporary attorney.
LJN Quarterly Update: 2024 Q2
July 24, 2024
The LJN Quarterly Update highlights some of the articles from the nine LJN Newsletters titles over the quarter. Articles include in-depth analysis and insights from lawyers and other practice area experts.
Leveraging Law Firm KPIs for Business Success
July 01, 2024
Utilizing Key Performance Indicators (KPIs) in a law firm is crucial for evaluating performance, profitability, client satisfaction, and overall success. Understanding which attorneys are the most profitable, which matters are the most lucrative, and the cost of acquiring new clients is crucial for making informed business decisions.
