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Should My Firm Offer Legal Fee Financing or Payment Plans?

Practice Panther

The legal field is a sector of life that provides necessary services and expertise that is not always readily able to be reduced, like your neighborhood grocery store’s discount sale. What is the best strategy for providing necessary services to the public and ensuring equal access to legal services without harming your practice?

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Legal Staffing Lessons for Today’s Marketplace

Attorney at Work

Large firms, for example, are able to lower costs and present competitive price points by contracting certain aspects of the work, while smaller firms can compete more effectively by contracting niche talent to fortify their bank of expertise. Real estate finance or M&A? The Contract Talent Pool Is Top-Notch.

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How To Accept ACH Payments For Your Law Firm

CaseFox

ACH is a payment method that allows businesses to transfer funds electronically from one bank account to another. Obtain a Business Bank Account The very first step to accept ACH payments for law firms is to create a bank account. All law firms need to have a dedicated bank account if they want to accept ACH payments.

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An Abridged Look at the Business of eDiscovery: Mergers, Acquisitions, and Investments

Complex Discovery

11-Jun-13 Modus eDiscovery (Investment) Harbert Management Corporation and Azalea Capital (Investment) $10,000,000 16-May-13 UBIC Inc.

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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. Revenue is the funds earned after completing legal services and before deducting expenses. If you already set up your business, proceed with the next steps.

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Pay for Lawyers: Your Guide to Boosting Cash Flow

MyCase

This means that they compensate the attorney or firm in order to reserve their services should the need arise. When legal services are required, lawyers may charge additional costs. . An hourly rate is a fixed dollar amount charged for each hour spent on a legal matter. Utilize the Right Tools for Your Firm’s Finances.

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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. Revenue is the income received as a result of issuing your legal services. Profit/income distributions .