IRS Issues Revenue Procedure 2012-17
March 29, 2012
On Feb. 13, 2012, the Internal Revenue Service issued Revenue Procedure 2012-17, which in part provides that partnerships may furnish their partners with an electronic copy of their Schedule K-1 if the partner has affirmatively consented to receive the K-1 in electronic format, such as in pdf form in an e-mail.
The Billable Hour Is Not Dead!
March 29, 2012
Firms are increasingly using alternative fee structures to meet clients' demands for billing based on the perceived value they have received. This article discusses the reasons why, regardless of your firm's method of billing clients, it is still critical to track attorney billable and non-billable hours.
The Fiduciary's Default Investment Choice
March 29, 2012
Several high-profile class action lawsuits are now winding their way through the federal courts alleging high costs, sustained underperformance, and failure to properly disclose and account for revenue sharing and other "under the table" payments in pension and 401(k) plans. The fiduciaries have only themselves to blame. These issues should never have been on the table.
Profitability and the Legal Marketing Professional
March 29, 2012
This article provides for the legal marketing professional a guide to the basics of law firm economics, and includes sample metrics and ideas as to how to improve the contributions of the marketing department to the bottom line of your law firm.
Getting Real in a Virtual World
February 28, 2012
To "nickel and dime" in the short-term is a recipe for disaster when attempting to create an infrastructure that will answer immediate and future IT demands. With this in mind, when we began looking at virtualization ' heralded as a tech area that can shape the fortunes of an organization ' I realized the initiative would need to be approached cautiously to achieve our goals and ensure strong ROI.
The Business Case for Strategic Planning
February 27, 2012
Today, law firms need focused strategic plans to enhance revenue, efficiency in the delivery of services, cost control, and timekeeper accountability.
Contingent Fee Intake Guidelines
February 27, 2012
In deciding whether to accept a contingent fee case, your firm should approach this issue as it would any other decision regarding an investment of the firm's resources.
Paying and Transitioning Leaders
February 27, 2012
When a law firm asks an individual to step forward on behalf of the group, it is incumbent on the group to define the scope, authority and expectations for the leadership position. In addition, there should be mechanisms in place to evaluate leadership performance, provide feedback and appropriately adjust compensation.
