Tax-Free Education Benefits For Law Firm Employees
Law firms can provide a valuable fringe benefit for their employees by paying for their education costs. There are several ways a firm can choose to provide this benefit, and depending on the circumstances, one way may be more valuable than another. In addition, the different ways of providing the benefit are not mutually exclusive, and can be mixed and matched to provide greater benefits than one method might provide.
Around the Firms
This Month:<br>Ex-Partners Sue Townsend for Cut of Fees<br>L.A. Firm Brings Johnnie Cochran Name to San Francisco
Baby-Boomer Partners In Transition
The ranks of law firm partnerships include tens of thousands of "baby-boomer" partners (BBPs), born between 1945 and 1955. These attorneys are now ages 50-60. Surprisingly, little has been written about the expectations and needs of BBPs or the expectations, needs and strategies (if any exist) of their law firms and fellow partners as to BBPs. Moreover, law firm partners both younger and older than their BBPs may be substantially affected by their law firm's strategies for and treatment of the baby-boomer generation. <br>This two-part article illustrates the expectations, intentions - and tensions - of baby-boomers and their firms, respectively, by using two models. Of course, there can be as many variants as there are BBPs, with numerous potential responses to each unique situation.
Law Firms Gain, But With Big Caveat
Law firms are back ' sort of. <br>Revenues and profits were up by nearly 10% in 2004, a clear sign that firms have shaken off the tech bust slump. <br>But even as the biggest legal shops are reaping the harvest of a buoyant economy, they face some difficult choices ahead to maintain revenues ' and to grow profits.
Of Partners And Employees
In January, the Equal Employment Opportunity Commission (EEOC) sued Sidley Austin Brown & Wood LLP, alleging discrimination in connection with that firm's demotion of a group of equity partners. The suit highlights an area of potential uncertainty for law firms and other businesses organized as professional corporations and limited liability partnerships ' whether the shareholders and partners of such businesses are entitled to the protections afforded "employees" under federal and state employment laws. <br>Although the outcome of the EEOC's case may not be known for some time, recent decisions illustrate a developing legal standard that will likely impact the organization of many professional service businesses.
Conference CD: Revenue-Focused Leadership
Attention group leaders, marketing partners, department heads, managing partners and marketing professionals. If you are charged with leading the efforts of others to develop more business for your firm, this web audio conference event is for you.
Conference CD: P.R. Professional Inside and Out
Topic areas of this Web Audio event include:Advantages Of An Inside Person: Is It The TrendReporting Structure: Who's Responsible'CMO, Marketing Director, Partner, or Firm ChairOutside P.R. Firms: What They Have To Offer And How It's Impossible To DuplicateThe Best of Both Worlds: A Blend Of Both
