By Carolyn Dolci, CPA and Alyssa Rausch, CPA, MBA

Now is the time to dust off your partnership agreement and amend it to reflect the new partnership audit rules. Effective January 1, 2018 (or earlier, if elected), under the Bipartisan Budget Act of 2015, all partnerships (including LLPs and LLCs taxed as partnerships) will be impacted by the new partnership audit rules. Below are key questions to consider as you update your partnership agreement.

By Leo F. Miller, Jr., C.I.C. and Staci Grant, RHU

Cyber Threats

By Jennifer Ellis-Rosa

Most law firms in New Jersey have been slow to adopt modern office trends. I’m not talking about slick, glossy interiors that look like they belong in a magazine. I’m referring to spaces that have outdated planning metrics and are not adaptable as technology continually evolves. The fact is most of these firms lease more space than they need.

By Stew Smith, CISM

The challenges associated with a data breach are changing the legal landscape.  The March 2017 issue of the ABA Journal cited cybersecurity as the biggest risk that law firms face in 2017.

By Scott Jacobson, CLCS

As an administrator, you also take on the role of risk manager.  Your job is to deliver on the mission and vision of your law firm.  Sometimes, that calls for being direct, patient, encouraging or decisive—and sometimes all at the same time.  You take unrealistic ideas that are thrown on your lap and convert them to real world actions, allowing the impossible to become possible.  This means your accountability level for the firm is paramount.

By Jeremy Beam

Law firms, like any other business, need to be aware of, monitor and act on key performance indicators (KPIs).  While firms are typically on top of measuring billable hours, there are many other KPIs that can help you better manage revenues and expenses.  Knowing how—and when—to measure and benchmark a firm's KPIs against industry trends and best practices will help modify and improve firm performance.  KPIs can deliver a treasure trove of information to law firm administrators and partners—the key is knowing what to look for and how to report your findings in a format management can understand. 

By Basil Stepanov 

The legal industry is no stranger to the art of collaboration. Contracts, forms, statements, testimonies and numerous other legal documents are essential to the process, and need to be properly disseminated to achieve success. While e-mail has traditionally been a key component in the transfer of data, a more efficient alternative is currently reigning supreme. Law firms need platforms that promote faster internal communication to share files, discuss key topics and reach the necessary parties without delay. More specifically, these law firms need team collaboration software.

By Cathy Aveta

By Cathy Aveta

CA: What’s your secret talent?

By John Lusardi

1. Create a move team and clearly identify a single point of contact who is the “leader” of the move team within your organization. 
2. Create a checklist of what you wish to accomplish with the move.  Is your company downsizing?  Expanding?  Does your company plan to purchase new furniture?  Will you require storage?  There is a lot to consider during a move, and a clear scope of work and proper planning is the key to a seamless relocation.
   
3. Identify a target move date and when you will secure a Certificate of Occupancy at the new space.  Your move timeline and logistics is dependent upon this date/access.
   
4. Begin the process of identifying what items will and will not be moved.  Your company can save time and money by decluttering your office prior to the relocation.  Once you decide on what is moving, create an inventory of items.
   
5. If you do not have a relationship established with a local mover, this is a good time to start, as the mover can assist you with planning.  Partnering with your local mover as early as possible may help take a lot off your plate once you learn all the additional services and resources the mover can provide.  The mover will work with you to help implement a detailed move plan and schedule that will limit the amount of employee downtime, identify non-essential items that may be moved ahead of time, help coordinate loading dock and freight elevator times and help with the decommission and/or liquidation of unwanted furniture.  The earlier you start the process, the better chance the project has of being successful.
   
6. Choose your relocation company wisely.  Weed out the unqualified bidders with some helpful points that you should be looking for from your moving company:
   
1. Research background and history (years in business, locations, owner, number of employees, amount of equipment, etc.).
   
2. Check mover credentials.  Is your mover licensed and insured?  What type of insurance coverage does the mover carry?  Ask for applicable licenses and authorities (DOT, ICC or other) and any affiliations (VanLiner, BBB, CRN, etc.).
   
3. Ask for references.  How many relocations of this size has the company done and can they provide a list of satisfied clients?
   
4. Ask for qualifications and names of key personnel (project manager and lead foreman) and standards for other personnel.
   
5. What experience does the mover have with handling sensitive electronic equipment, including PCs and servers?  Look for companies with specific experience moving critical IT equipment.
   
6. Inquire about their experience in handling modular furniture.  It takes product knowledge to efficiently break down and put up modular furniture configurations.
   
7. What post-move services does the mover provide?  Post-move services are usually defined in a detailed relocation plan.  Look for companies that work with you even after the move to assure that you and your employees are 100% satisfied.
   
8. If possible, take time to visit your mover’s facility and meet the team that will be supporting your office relocation.
   
7. Work with your mover to develop or fine-tune the scope of work.  Make sure that responsibilities are clearly defined, such as:
   
1. A detailed schedule of move (dates and times of activity)
   
2. Packing and unpacking (who is responsible for which areas, customer vs. mover).  You may assign personnel to pack common areas such as kitchens, reception areas, file rooms, storage rooms, etc.
   
3. Decommissioning your space?  Consider furniture/IT/broom swept services.
   
4. Who will handle disconnection and moving of PCs?  Most moving companies offer computer disconnect and reconnect services as a very cost-effective amenity to their service.  
   
5. Cubicle disassembly and assembly, reconfigurations?
   
6. Packing materials (corrugated boxes or rental crates)
   
7. Itemized inventory of furniture to be moved, or at a minimum, knowing what to show the mover during the site visit
   
8. Post-move fine-tuning (Is this needed, how many workers and for how long?)
   
9. Egress out and into buildings should be reviewed, along with buildings’ management requirements.
   
10. Require that no bids will be accepted without a site survey.
    
11. Request hourly rates and/or confirm type of quote (fixed bid vs. estimated cost)
    
8. What is your plan for data back-up on your servers?  Talk to your IT staff.  Your company does not have to be inoperable during the move.
   
9. Who will be your new data service provider?  Make sure the company providing your telephone and data services is scheduled to have everything in place before your physical office move is to occur.  
   
10. Have a pre-move meeting with your staff!  Perhaps the single most important thing you can do is educate your staff about their responsibility during the move process.  Discuss proper packing techniques, proper labeling and where to find information they need, such as the new office telephone number.  
    

By Micki Mersky

If you are a legal professional, you know how important it is to build trust with the individuals you represent.  This same concept can also be applied to your relationship with your recruiter. 

By Micki Mersky

There is little doubt that technology has changed the way most law firms operate. Document management software, web-based client communication portals, artificial intelligence and litigation case management systems are just a few examples of legal technologies that are transforming the industry. However, these technological advances aren’t only affecting the day-to-day responsibilities of lawyers, but trickle down to their support staff, as well. 

By Carolyn Dolci, CPA and Jeanne-Marie Waldman, CPA

The 2017 Tax Cuts and Jobs Act created a business tax credit through Section 45S of the Internal Revenue Code for employers of all sizes that voluntarily offer paid family and medical leave to their employees.  The credit is based on a percentage of the wages paid to a qualifying employee taking leave for up to 12 weeks per year, provided certain statutory requirements are met.  The credit is available for tax years beginning after December 31, 2017, and before January 1, 2020.