For those that have clients and spend their days surrounded by real people, I have some advice about year-end planning. I don’t care if you do or do not do any of this stuff, I can only tell you that it’s what I do and have done for years. Obviously, if you are part of the (“man, I hope all these idiot consultants are right”) future of law, much of it won’t apply to you.
If you’ve made some money this year, meet with your accountant.
One of my recent posts here was about my relationship with my accountant. I hope you have one, and I hope you set a lunch or meeting in your office or coffee shop in the next two weeks to discuss year-end tax planning. Next spring is a bad time to learn that you could have done some things to save yourself having to pay Uncle Sam more money. (By the way, for those of you getting a refund, you have bigger problems.)
If you’re not desperate for cash and you have clients that owe you money, consider telling them to pay in January.
What lawyer does this? You Biglaw folks have to try and collect before year’s end, so that leaves us small guys to give early Christmas gifts to our clients by telling them, yes, you will have money for that flat-screen you can’t afford, just pay your bill by January 15. Trying to get money out of clients during the holidays (read: after Thanksgiving) just makes you the one that is crushing the client’s mellow. Plus, relevant to point one here, you’ll be able to decrease your income for 2012….
I trust that after last week’s column, all my small-firm spinsters are well on their way to finding meaningful, romantic relationships with their co-workers (read: New Year’s Eve booty calls). After waking up at 2:00 p.m. on Saturday, I realized that I forgot to suggest one guaranteed way to meet your small-firm suitor: the office party.
While Tannebaum may hate the office holiday party, I believe that it is one of the main — if not most important — reasons to work for a small firm. Or, for that matter, to be a law firm lawyer at all. Indeed, I may be drowning in debt come graduation, but at least I will be able to drink cheap boxed wine with a rainmaking partner once a year. It is worth the investment. (Take that, Wall Street Journal.)
As much I love me a holiday party, however, I do believe there are certain rules one must follow. I cannot promise that I observe these rules myself, but as the saying goes, those who cannot do, teach. And with that, here is a guide for how to behave at the office party….
Just in case the giant ad bar at the top of the site wasn’t a good enough reminder about the Above the Law holiday party, I’m here to give you all of the details again. This shindig is being sponsored by our friends at Practical Law Company, and our fabulous event is going to be held tomorrow, November 30, at Bar 29. Bar 29 is located at 29th and 3rd, and the open bar will run from 6:00 – 9:00 p.m.
Please RSVP below. I mean really, why wouldn’t you want to come? You’ll get to meet all of the ATL editors, including Lat (who I need to consult with about my shoes), Elie (who may or may not be wearing pants), and me (I’m still picking out my outfit). And trust me, we all know how to party.
Please let us know if you’ll be there. We’re going to have a great time, and we know you will, too!
As we told you last week, the Above the Law holiday party is going to be held on November 30th at Bar 29. The bar is located at 29th and 3rd, and the open bar runs from 6:00-9:00 p.m. The party is sponsored by our friends at Practical Law Company — you might remember them from yesterday’s article about training alternatives for students who graduate from law school with few practical skills.
Please RSVP below. We’re trying to get a sense of our numbers. If it’s a smaller, more intimate gathering, I’ll show up in my usual blogging attire of a black robe and a badass medallion like Caiaphas. If there are a bunch of you coming, I’ll have to shave and put on a shirt or something.
Let us know if you are coming. It should be a fun time.
In fairness, Mariah Carey does fill out a Santa suit better than I do.
Last night, we gave you a little recap of the ATL holiday party — if you will forgive the expression — that PLC and ELR Search sponsored. Wow. Some of you commenters are really mean, especially after Kash takes out a restraining order against you. Your clever use of ouchy words really did a number on us here at ATL. I had to use my orbital ass to block out the moon last night to keep Ami from turning into a werewolf. I thought everybody would be over it by morning, but when I came in Marin was using a size 4 sweater as a full sleeping bag and our CEO was selling off Breaking Media equipment on Ebay while screaming “No, not again, I’ll not be ruined the internet bubble a second time!”
Just kidding — we know you say these things out of love, the love the rest of polite society denies you because of your various deformities. Pitiful commenters of darkness, what kind of life have you now? God give me courage to show you, You are not alone.
In fairness, there was only one comment last night that really pissed me off. It was the first one: “If you attended this you are a LOSER and need to GET A LIFE.” Really buddy? Coming out for free drinks and free food on a random Wednesday, if you read a blog — a blog you yourself read so intently that you are FIRST to comment on it — makes you a “LOSER.” Really?
Whatever. Winners, a class of people I think “Guest” knows nothing about, should be able to come and hang out at the humble holiday party thrown by a blog they read if they want to.
And then they should also be able be wined and dined at a proper holiday party, thrown by their employers. And employer-sponsored holiday parties, especially when the employers are large law firms, should be so extravagant that “Guest” gets paid time-and-a-half to serve drinks while successfully breathing through his nose instead of his mouth.
Were they? Or was this yet another year of recession-affected law firm holiday parties?
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For most attorneys, time spent managing the books is a necessary evil at best. Yet it is undeniably a crucial aspect of running a successful practice. With that in mind, we invite you to view or download a free webinar by Above the Law and our friends at Clio to learn how to better manage your finances.
Take this opportunity to learn what it takes to streamline your accounting and get the most out of your time. The webinar agenda:
● The basics of accounting for lawyers.
● How legal accounting differs from regular accounting.
● Report and reconciliation issues surrounding trust accounts.
● How to pick and integrate the best accounting tools for your practice.
● Steps to prepare your tax return for your firm’s income.
Do not miss this crucial chance to optimize your accounting practices. Save time and get back to billing!
Ed. note: The Asia Chronicles column is authored by Kinney Recruiting. Kinney has made more placements of U.S. associates, counsels and partners in Asia than any other recruiting firm in each of the past seven years. You can reach them by email: firstname.lastname@example.org.
Please note that Evan Jowers and Robert Kinney are still in Hong Kong and will stay FOR THE REMAINDER OF THIS WEEK. We still have a handful of available slots for meetings with our Asia Chronicles fans. If we have not been in touch lately, reach out and let us know when we could meet! There is no need for an agenda at all. Most of our in-person meetings on these trips are with folks who understand that improving a legal practice through lateral hiring is an information-driven process that takes time to handle correctly.
Regarding trends in lateral US associate hiring in Hong Kong, we of course keep much of what we know off of this blog. Based on placement revenue, though, Kinney is having one of our most successful years ever in Asia. We are helping a number of our law firm clients with M&A, fund formation, cap markets, project finance, FCPA and disputes openings. These are very specific needs in many cases, so a conversation with us before jumping in may be helpful. As always, we like to be sure to get the maximum number of interviews per submission, using a well-informed, highly targeted, and selective approach, taking into account short, medium and long-term career aims.
Making a well informed decision during a job search is easier said than done – the information we provide comes from 10 years of being the market leader in US attorney placements at the top tier firms in Asia. There is no substitute for having known a hiring partner since he/she was an associate or for having helped a partner grow his or her practice from zip to zooming, and this is happily where we stand today – with years of background information on just about every relevant person in all the markets we serve, and most especially in Hong Kong/China/Greater Asia. So get in touch and get a download from us this week if we can fit it in, or soon in any case!