Fake Law Firm Memo Offers Tax Tip to Troops: The Less You Bill, the Less We Owe
Apparently inspired by year-end revenue collection efforts and the upcoming tax season, a fake law firm memo offers, at considerable length, the suggestion that attorneys shouldn’t stress too much about bringing in the bucks.
Tax planning is a critical aspect of law firm success, writes a fictitious tax chairman in the memo published by Legal Productivity. And there is good news: A historic drop in taxable income will require little or no change in many attorneys’ current work habits.
In short, “The more time we write off, the more bills we write down, the more tax we avoid. It’s that simple,” he explains. Another suggestion: Delay sending the bill as long as possible, since that practice historically achieves the highest write-off.
Hat tip: Corporate Counsel
