Tax Considerations & Benefits for Law Firms

Whether you're a partner or an associate in a law firm, the Internal Revenue Service has rules that apply specifically to you as well as several opportunities. Following is a list of tax provisions that affect attorneys in particular.

Do You Need a CFO for Your Law Firm?

Your firm’s financial health is as important as the quality legal work that you provide. You may not be a financial genius, but that’s okay. Click through to learn more about the possibility of working with a virtual CFO.

Will Your Law Practice Be Affected by New Leasing Standards?

As of January 1, 2020, all leases, including short-term leases, must be recorded on your company's balance sheet. What does the new Financial Accounting Standards Board standard mean for your business? Click through for an introduction to this complex new series of rules.

Are You Concerned About Your Firm's Cash Collections?

You can’t run or grow a firm without a reliable cash flow, which not only means attracting business but devising a system to collect what clients owe. Here are 4 simple ways to improve the accounts receivable column of your ledger...

Do You Maintain These Key Management & Financial Reports?

Numbers may not be your forte but keeping track of certain numbers is key to the success of any law firm. Here are some key management and financial reports you should prepare...

Protect Your Law Firm from Scammers

In the technological day and age we live in, it’s important for Chicago attorneys to understand that while they advise clients who have experienced fraud, their own Chicago law firm is equally at risk for being targeted by scammers.

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