Provided by Michael G. Blum of LawFinance Group, Inc. This article illustrates how borrowing funds and converting non-deductible litigation expenses into tax deductible expenses has the cumulative dual benefits of creating a larger pool of funds for law firm investment in litigation costs, growth and partner distributions, and reducing the firm’s net cost of using borrowed funds. Ability to compute complex refund scenarios now available through leading interest calculation software for the legal industry.
Provided by Richard Link of With mobile credit card processing through your smartphone or tablet, it’s easier than ever to get your legal fees paid by credit card. Provided by Sareena Malik Sawhney Investors need to beware of Ponzi schemes and exercise their own due diligence to make sure they’re not caught up in a “too good to be true” financial fraud. During the Federal Trade Commission’s recent workshop, “Collecting Consumer Debt: The Challenges of Change,” The Commercial Law League of America (CLLA) made a strong statement for change to the Fair Debt Collections Practices Act (FDCPA). Provided by Editorial Staff If you’re one of the 20 million self-employed in the United States, you’ll need to pay your own FICA taxes and take charge of your own retirement plan, among other things.
Provided by There are two primary types of accounting methods: accrual and cash accounting. Provided by Robert Ambrogi There are two kinds of people in the world, says finance expert Tom E. Greene: word people and number people. Most lawyers fall into the first group, which explains why they either panic or gloss over when faced with financial concepts in litigation.
Provided by U. S. Small Business Administration Equity capital or financing is money raised by a business in exchange for a share of ownership in the company. Ownership is represented by owning shares of stock outright or having the right to convert other financial instruments into stock of that private company.
Two key sources of equity capital for new and emerging businesses are angel investors and venture capital firms. Provided by U. S. Small Business Administration The balance sheet is a snapshot of the company’s financial standing at an instant in time.
The balance sheet shows the company’s financial position, what it owns (assets) and what it owes (liabilities and net worth). This article describes the elements of a basic balance sheet. Provided by U. S.
Small Business Administration While poor management is cited most frequently as the reason businesses fail, inadequate or ill-timed financing is a close second. Whether you’re starting a business or expanding one, sufficient ready capital is essential. Provided by U. S.
Small Business Administration Whether you’re starting a business or expanding one, sufficient capital is essential. While poor management is most often cited as the reason businesses fail, inadequate financing is a close second.