THE LATEST DEVELOPMENTS IN LAW FIRM ACCOUNTING

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Blockchain Technology and its Impact on Law Firm Accounting

Blockchain technology has the potential to truly revolutionize the way lawyers and law firms handle their accounting. It can bring increased transparency and security to financial transactions, as well as automate repetitive tasks through…
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The Future of Law Firm Accounting: Emerging Trends & Technologies

The legal industry is constantly evolving, and accounting is no exception. Over the past few months, we have seen the rise of new technologies that are poised to reshape the way law firms manage their finances. These emerging trends and technologies…
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Supreme Court Debates Limits of Attorney-Client Privilege in Bitcoin Tax Return Accounting Case

In a case involving tax advice, the U.S. Supreme Court debated on the limits of the attorney-client privilege. The case, In re Grand Jury, involved a criminal investigation of an early promoter of Bitcoin who expatriated from the US in early…
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Attorney Accountant NY
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Attorney Escrow Agent’s Misconduct Leads to Discipline

Criminal conviction, failure to maintain advance fees, resulted in disciplinary action. In Matter of Grant, the court disciplined an attorney escrow agent based upon his criminal conviction. The attorney's conviction arose from his participation…
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Attorney Accountant NY
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Mount Vernon Attorney Resigns for Failure to Maintain Escrow Account Records.

In Matter of Thomas, the Second Department accepted the resignation of an attorney under investigation by the Grievance Committee for the Ninth Judicial District. The investigation involved allegations of the willful misappropriation of client…
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Blockchain Technology and its Impact on Law Firm Accounting: Opportunities and Challenges

Blockchain technology has the potential to revolutionize the way law firms handle their accounting and financial transactions. The decentralized, distributed ledger technology offers benefits such as increased transparency, security, and immutability…
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The Role of Automation in Law Firm Accounting: Strategies for Streamlining and Efficiency

In the competitive legal industry, law firms must constantly search for ways to streamline their processes and increase efficiency in order to stay competitive. One area that is ripe for improvement is accounting. Law firms can greatly benefit…
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Attorney Accountant NY
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Attorney’s Conversion Of Client Funds Intended To Pay For Transcript Results In Discipline.

The attorney in Matter of Castro faced 11 charges of professional misconduct stemming from his conversion of client funds. The Attorney Grievance Committee's charges included neglect of a legal matter, misappropriation of client funds, commingling…
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Law Accountant NY
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Attorney’s Tax Misconduct Results In Multi-Year Suspension.

In a case addressing an attorney's tax misconduct, Matter of Seedorf, the Appellate Division disciplined an attorney based upon a federal conviction for tax evasion. The attorney admitted that from 2009 to 2019, he intentionally evaded payment…
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Law Ledgers is an accounting firm providing full-charge tax and bookkeeping services to New York lawyers and law firms.  Our work focuses on meeting the unique needs of the legal profession, assuring compliance with the stringent record-keeping and reporting requirements of doing business and paying taxes in New York while also maximizing profits. To learn more, call us at 1 (929) 327-7711, or contact us by e-mail for general inquiries at staff@lawledgers.com.