Using 'Sharing Origination' Credit to Motivate Partners to Develop Business
June 02, 2014
In today's competitive practice environment, client origination looms large in its significance to the success of a firm's future. Hence, strong incentives should be provided to partners for "bringing new business from potential and existing clients through the door." Below, several kinds of Origination Credit are examined.
QDRO or Buyout: Preparing Today for A Secure Tomorrow
June 02, 2014
Some 84 million Americans work for companies that maintain ERISA-covered retirement plans that are divisible by Qualified Domestic Relations Orders (QDROs), which guarantee the non-worker spouse (the non-owner) a share of the pension. Or the couple can opt for a buyout (sometimes called an immediate offset), by which one spouse trades away pension rights for another asset.
Is Your Qualified Plan Prepared for A DOL Investigation?
May 02, 2014
The letter reads that there will be a visitor from the Department of Labor (DOL) coming to your business in roughly four or five weeks. The reason for the visit: they have determined they want to investigate your retirement plan(s). Whatever the reason, you have some time to prepare. What should you pay attention to in this prep time and what could the results be of an investigation like this?
Ten Reasons to Just Say No to New Work
May 02, 2014
The relentless pursuit of revenue in this era of decreased legal spending has created an environment in which it is anathema to turn away work. The battles to land new clients and matters are fierce and the consequences of losing are far more damaging than ever. Nevertheless, there are times when the smart play is to decline, no matter how alluring the likely fees are.
Leases Accounting Project
May 02, 2014
Following their recent meetings in March, the FASB and IASB remain at odds on the key issue of how lessees should account for all leases once they are recognized on a balance sheet.
When Moore Means Lease
April 02, 2014
Moore's Law revealed the fundamental question we all ask when faced with a new technology: should I <i>purchase</i> that device? The fact is, we don't know. The period of exponential improvement which we are all now familiar with has shown time and again that there will be some breakthrough in technology over the next several months that delivers a product to me that is better, cheaper and faster.
Revenue Recognition
April 02, 2014
When is a sale a sale? This question is much more than semantics or a deep philosophical debate that college accounting majors have over a nice cold keg of Mountain Dew. Many an executive or business owner has gone to jail over this issue.
12 Tips to Enhance Your Firm's Partner Compensation System
April 02, 2014
There are numerous characteristics that account for compensation systems that are perceived by partners as being fair and equitable. These include the system itself and how the system is administered. Below is a list of compensation criteria that are considered by most firms when setting partner compensation.
Tax Court Imposes New Limitation on IRA Rollovers
April 02, 2014
In <i>Bobrow v. Commissioner</i>, U.S. Tax Court Judge Joseph Nega surprisingly ruled that Internal Revenue Code (IRC) Section 408(d)(3)(B), which allows one tax-free 60-day rollover per year, applies to all of a taxpayer's IRAs, rather than to each IRA separately.
Corporations' 'Seismic Shift' to Private Exchanges
April 02, 2014
The first quarter of 2014 is over. The major provisions of the Affordable Care Act are now in full swing, save the occasional delay of certain mandates. Companies, both large and small, understand that this law is now a fixture of our legislative structure. It will be amended, tugged at, pulled at, changed, expanded, and contracted. The private marketplace plays a crucial role in the development of the law, as well as the resulting impact on employers.
