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Checklist for Conducting Your Law Firm’s Year-End Financial Review

Attorney at Work

A major red flag is having one employee who has all financial responsibility: check writing, bookkeeping, trust accounting and reconciliation, as well as maintaining all communication with your financial partners and bank. Checks and balances are key. Often, there is no ill intent on the part of the employee, just a lack of knowledge.

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What If I Don’t Want to Litigate? Law Degree Alternatives: Exploring Unconventional Career Paths

The Barrister

8 Education and Academia : From teaching law to educating students in civics or history, a law degree can be a gateway to impactful careers in academia. 13 Financial Services and Investment Banking : Legal professionals are in demand for navigating securities laws, mergers, and compliance in the financial sector.

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How to Set Up a Law Firm Chart of Accounts

MyCase

Any interest earned on those accounts (since they operate exactly like a banking checking account), does not belong to the client or law firm—instead it belongs to the state bar, and is typically used to fund pro bono cases. Professional costs such continuing education, conference fees, and organizational dues. Compensation.

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Law Firm Budget: How to Create Your Financial Strategy

MyCase

Revenues, expenses, and profits influence bank balances and the ability to repay firm debt. You might start with an educated guess as to how many new cases you’ll secure each month. Financing the purchase costs more, but it can be easier on the firm’s cash flow. Let’s review each of these challenges in more detail.

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Law Firm Accounting Guide: 11 Steps to Boost Efficiency

MyCase

Obtaining an Employer Identification Number (EIN) is especially important for hiring employees, filing employment taxes, and opening business bank accounts. If you’re required (or would like to) set up an IOLTA trust account, double-check that you’re setting up the correct account with your bank.

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A Year in Review: Joseph, Hollander & Craft 2023

Joseph, Hollander & Craft

She also worked with the Disability Rights Center, representing clients in property, housing, family law, civil rights, education, employment, and healthcare matters. It was a privilege to attend KU Law, and I couldn’t have asked for a better legal education,” Chris said. Jess Hoeme receives KBAA’s Excellence in Education Award.

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Alternate Pathways: Your Questions Answered

WA Bar News

In order to waive out of the bar exam, they would have to complete additional standardized education materials and benchmarks under the guidance and supervision of their tutors. Months later Art was contacted by Bank wanting to retain him to evaluate the effect of the litigation against Becky and Clyde for their business financing.