Legal Management Consultants

John W. Olmstead
MBA, Ph.D, CMC

A successful law firm competitive strategy requires effective law firm management. Managing Partners and Administrators must keep updated on all aspects of law firm management.

Keeping up to date requires access to current information on law office management and business relationships with management consultants specializing in law office management. We hope that our law office management resources are beneficial to law firm owners, managing partners, administrators, and others involved in the management of law firms.

Our law practice management asked and answered blog is updated weekly. Click here to access.

We are now providing our clients that are looking to sell or acquire law practices with a confidential listing page. Click here to access the page.

Law Firm Strategy

 

7/10/2014

News You Can Use

ABA Supports Law Firm's Use of Cash-Based Accounting for Income Tax Reporting & Opposes Proposed Change to Accrual Method

A Section 3301 of the draft “Tax Reform Act of 2014” recently released by House Ways & Means Committee Chairman Dave Camp (R-MI) and Section 51 of a similar draft bill prepared by former Senate Finance Committee Chairman Max Baucus (D-MT) would require all personal services businesses with annual gross receipts over $10 million to use the accrual method of accounting rather than the traditional cash receipts and disbursement method. As a result, many law firms, accounting firms, medical firms, and other personal service providers would be forced to pay taxes on income long before it is actually received. 
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2/14/2014

Legal Management

Succession/Exit Planning Question

Fifty seems to be the point at which attorneys being thinking about their retirement and their future. Some even consider and in fact make complete career changes at this point in their lives. Here are a few questions to begin thinking about:

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Contact Us

 
  • The best decision when we were considering succession planning was to hire you and your firm. 
  • Curt Tobin
    Tobin & Ramon

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