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Amata Partners with Clio to Empower Small Law Firms

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We are thrilled to announce Amata’s new partnership with Clio, the leading legal practice management software. This collaboration is set to benefit the entire legal industry, especially small law firm owners. Together, we aim to simplify law firm operations, enhance client service, and drive efficiency across the legal landscape.

 

Clio offers a comprehensive platform designed to meet the evolving needs of modern law firms, including:

 

  • Client Intake and CRM: Streamline client onboarding and relationship management.
  • Time Tracking: Capture billable hours accurately to boost profitability.
  • Document Management: Access and organize files effortlessly, from anywhere.
  • Billing and Invoicing: Simplify financial processes with integrated tools.
  • Online Payments: Provide clients with secure, convenient payment options.
  • Calendar Management: Stay on top of deadlines and schedule with ease.
  • Secure Client Communications: Protect sensitive information with encrypted messaging.

 

Amata’s role in this partnership ensures that small law firms not only access Clio’s powerful tools but also receive ongoing support to maximize their benefits. Our team of administrative assistants will assist firms with onboarding, troubleshooting, and day-to-day management of Clio, allowing law firm owners to focus on practicing law and growing their businesses.

 

This partnership is a meaningful step toward leveling the playing field for small law firms, giving them the same cutting-edge tools and support typically available to larger firms. Together, Amata and Clio are empowering small law firms to thrive in a competitive legal market.

 

Celebrating Collaboration: Clio Launch Event Recap

 

To celebrate this exciting partnership, Amata recently hosted an exclusive event for the Chicago legal community at the iconic O’Callaghan’s Pub. The event was a fantastic opportunity for legal professionals to network, learn, and connect over great food, drinks, and a complimentary whiskey tasting.

Co-hosted by Bridgepoint Technologies and Clio, the event showcased live demonstrations of Clio’s practice management software. Current Clio users shared real-world insights on how the platform boosts efficiency and revenue. Attendees also engaged directly with Clio representatives, learning practical tips to maximize the software’s features.

 

The event underscored the shared commitment between Amata, Clio, and Bridgepoint to support law firm growth through innovative solutions. From learning how to streamline client intake to discussing strategies for improving billable hours, the evening was filled with actionable takeaways for all attendees.

Join the Future of Legal Practice Management

 

Ready to transform your practice? Learn more about how Amata and Clio can simplify your operations, enhance client service, and help your law firm thrive. Explore the benefits of our partnership and see how we can elevate your firm’s efficiency today.

 

Contact us today.

5 Strategies to Attract Legal Clients Online

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When it comes to growing your small law firm, a strong digital presence is essential. Sophisticated clients now turn to the internet first when searching for legal services, and if your firm isn’t easily discoverable or engaging online, you may be missing out on valuable opportunities

 

Here are five key digital strategies to attract clients and grow your law firm:

 

1. Optimize Your Website for Client Conversion

Your website is your digital business card. It’s often the first interaction a potential client has with your firm, so ensuring it’s professional, easy to navigate, and optimized for conversions is key.

 

Your website should include clear, concise information about your services, contact details, and a straightforward way for potential clients to schedule a consultation or get in touch. A poorly designed website can turn away clients, while a well-designed site that loads quickly and is mobile-friendly can help establish trust right from the start.

 

One essential aspect of optimization is incorporating Search Engine Optimization (SEO) tactics, such as using relevant keywords, ensuring your site is mobile-responsive, and creating high-quality content that answers potential clients’ legal questions. These elements not only help you rank higher on search engines like Google but also improve user experience.

 

2. Leverage Social Media to Build Relationships

 

Social media has become a vital tool for client acquisition, especially for law firms that want to build relationships with potential clients. Platforms like LinkedIn, Facebook, and Instagram allow you to showcase your expertise, share valuable content, and engage with your community in a more personal way.

 

By posting regularly, answering common legal questions, and sharing success stories or updates in the legal field, you position your firm as an approachable authority. Engaging with followers through comments, likes, and direct messages further builds rapport, turning casual followers into clients.

 

To maximize your social media presence, consider creating a content calendar to post consistently and strategically. Additionally, using targeted ads on platforms like Facebook can help you reach specific demographics more likely to need your services.

 

3. Use Email Marketing to Nurture Leads

Email marketing is one of the most cost-effective digital strategies for law firms. It allows you to stay connected with both potential and existing clients, nurturing relationships over time. With email campaigns, you can send newsletters, updates on new legal developments, or helpful guides that position your firm as a trusted source of information.

 

To make email marketing effective, segment your email list to ensure that you’re sending relevant content to the right audience. For instance, you could send different newsletters to past clients, prospective clients, or people who have recently downloaded a resource from your website. Personalized emails are much more likely to resonate and lead to client conversions.

 

4. Develop a Strong Content Marketing Strategy

 

Creating and sharing valuable content can help you build authority in your area of practice. Whether it’s blog posts, case studies, or video content, providing answers to common legal questions can position your firm as a go-to resource.

 

One of the best ways to attract clients through content marketing is by answering common questions your potential clients may have. For example, if you specialize in family law, writing blog posts about the divorce process, custody arrangements, or prenuptial agreements can draw in readers who may eventually become clients. By consistently publishing informative and engaging content, you also improve your SEO, making it easier for people to find your firm when searching online.

 

Consider incorporating a variety of content formats to appeal to different types of clients. Written articles, video explainers, and even downloadable legal guides can all serve to build trust and keep your audience engaged.

 

5. Encourage Online Reviews and Testimonials

 

Online reviews and testimonials play a major role in the decision-making process for potential clients. Positive reviews act as social proof that your law firm is trustworthy and capable, giving potential clients the confidence to reach out. Encourage satisfied clients to leave reviews on platforms like Google, Yelp, or Avvo, and feature these testimonials on your website and social media.

 

Additionally, don’t shy away from responding to reviews—both positive and negative. Engaging with feedback shows that your firm values client satisfaction and is willing to improve when needed. A thoughtful, respectful response to a negative review can even turn the situation into a positive one for future clients reading the interaction.

 

How Amata’s Virtual Assistants Can Help You Implement These Strategies

 

While these digital strategies are proven to attract clients, they can be time-consuming to implement. As a small law firm, your primary focus is providing legal services—not managing websites, social media accounts, or email marketing campaigns. That’s where Amata’s fractional support services can make all the difference.

 

With Amata’s virtual assistants, you’ll access professionals who can handle your digital marketing tasks, from SEO optimization and social media management to content creation and email marketing. This frees up your time to focus on your legal practice, while your digital presence continues to grow and attract clients.

 

Amata’s virtual assistants scale their hours based on your workload, ensuring you get the support you need when you need it most.

Ready to grow your law firm’s digital presence? Contact Amata today to learn how our virtual assistants can help you attract more clients digitally without taking up your time.

Amata’s Chesterton Office Grand Opening: A Celebration of Community and Legal Partnerships

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On October 23, Amata welcomed legal professionals and community leaders to celebrate the grand opening of our new office in Chesterton, Indiana. The event was a great success, filled with networking, exciting opportunities, and a shared vision of growth for local law firms.

 

Amata’s Chesterton Office Grand Opening: A Celebration of Community and Legal Partnerships

 

The highlight of the afternoon was the ribbon-cutting ceremony, led by the Duneland Chamber of Commerce. Known for their dedication to business growth and community building, the Chamber’s involvement underscored just how impactful this office will be for professionals in the area. It was a moment of pride for everyone involved, as the office is set to become a key resource for law firms looking to establish a presence in Northwest Indiana.

 

One of the most exciting announcements at the event came from our partner, Ken Allen Law Group. As part of a unique partnership, Ken Allen, one of Indiana’s most renowned personal injury attorneys, is offering a lead-sharing agreement to Amata clients working out of the new Chesterton office. This gives small firms a golden opportunity—receiving client referrals directly from a nationally recognized law firm. This collaboration is designed to help small and growing firms expand their client base while working in a fully supported office environment tailored to their needs.

 

Ken Allen Law’s involvement doesn’t stop there. Ken Allen played an integral role in designing and building this office with the specific needs of law firms in mind. From the layout to the available services, the space reflects a deep understanding of what it takes to run a successful legal practice.

 

The grand opening was more than just an introduction to the new office—it was a reminder of how powerful collaboration can be in helping law firms grow. With partners like Ken Allen Law and the support of the Duneland Chamber of Commerce, this new space is set to become a vital hub for legal professionals in the region. The energy and enthusiasm from attendees at the event made it clear: the Chesterton office is ready to play a key role in the success of the firms that call it home.

 

With its welcoming office environment, strong partnerships, and key resources, Amata’s Chesterton office is set to become a home base for local law firms—a place where they can truly grow and thrive in the community.

 

Want to See More?

Explore everything Amata’s Chesterton office has to offer! Visit our Brand New Office Space for Professionals | 501 Allen Ct. page to view photos, see all the available amenities, and reserve your spot in this welcoming new space for legal professionals. Join us in building a hub for growth, collaboration, and success.

 

Law Firm Owners: People Are Your Greatest Asset

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Imagine one of your paralegals being invited to present research at Yale University—an opportunity that could catapult your firm’s reputation for years to come. That’s exactly what Carolina Lozano, a paralegal at Amata, is doing.

 

Her research on maternal activism and its impact on international law will be featured at Yale’s International Law and Women’s Rights Symposium. This isn’t just a win for Carolina—it’s a powerful example of how law firms can support their team’s passions and, in turn, elevate their own reputation on a global stage.

 

For small and large firms alike, the benefits of encouraging your team’s professional growth can extend far beyond your office walls.

Amata is proud to support Carolina. Her story is an inspiring example of how talent and passion, supported by the right environment, can lead to remarkable achievements.

 

Maternal Activism and Global Impact

 

Carolina’s research focuses on the activism of mothers in Latin America, particularly those who took action after their children disappeared under authoritarian regimes. These women, including the well-known Mothers of Plaza de Mayo in Argentina and the Mothers of Soacha in Colombia, turned their grief into advocacy, forcing governments and international bodies to recognize forced disappearances as violations of human rights.

 

“These mothers were just seeking justice for their own families. Unintentionally, they seed legal frameworks that can potentially protect millions around the world,” Carolina explained. Her paper highlights how mothers’ activism led to significant advancements in international law, including the recognition of the systematic perpetration of enforced disappearance by the Inter-American Court of Human Rights, and the 1994 Inter-American Convention on Forced Disappearance of Persons.

 

From Colombia to Yale: A Personal Achievement

 

For Carolina, this research is more than academic. Growing up in Colombia, she witnessed firsthand how political violence tore families apart and left communities searching for answers. 

 

“I’ve seen these mothers fight for justice with everything they had, even when they were up against entire regimes. Their stories are personal to me because I’ve seen the lasting impact of their struggles,” Carolina shared. “Presenting this research at Yale is an incredible opportunity to give these women’s voices the global platform they deserve.”

 

Carolina’s presentation at Yale will mark a significant milestone in her career, putting her in the spotlight as a contributor to international law research.

 

Supporting Growth at Amata

 

Supporting team members in their professional development is part of our culture. “This is a sensitive topic in Colombia, and people are reluctant to talk about it. Amata’s support was key—they basically encouraged me to explore this research, respecting the times I needed to organize my work and attend the events. Ron, Amata’s founder, was genuinely excited when he heard about this and invited me to share my learnings with the whole team!”

 

“Working at Amata feels like being part of a supportive family. It’s rare to find a workplace that not only allows you the time and flexibility to grow but actively encourages you to pursue what matters most to you,” Carolina shared.

 

Looking Ahead: Making an Impact

 

Carolina’s journey is a reminder that your team is your greatest asset. When you support your people, everyone wins.

 

Whether it’s helping them attend conferences, dive deeper into research, or pursue something they care about, the benefits stretch far beyond the individual. When you build a culture where people are genuinely valued, it translates into stronger loyalty, better results for clients, and unexpected opportunities for your firm.

 

This level of care is your greatest competitive advantage as a small law firm owner. Their success becomes your firm’s success. By creating the kind of environment great employees want to work in, you’ll attract talented people like Carolina who’ll contribute to your firm’s growth—and maybe even the future of international law.

The Biggest Gap Preventing You From Scaling

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This is the final part of the 3-part series How can 21st-century law firms increase their client base, cash flow, and reputation without sacrificing profitability and quality of life.

Most law firm owners want a thriving law firm that supports their best life. And that means having consistent cash flow, healthy profit margins, enjoyable clients, and a workload that fits their schedule.

After all, you started your law firm because you wanted to be in control of your time, finances, relationships, and purpose. The problem is that there is a big gap preventing most law firm owners from making this vision a reality.

 

The Big Gap Preventing You From Scaling

If you are a business owner, you are probably one of these:

  • A Visionary
  • An Integrator

According to Gino Wickman, most founders are dreamers with big aspirations who can see the grand picture and inspire others to take action. These are the “visionary-type entrepreneurs.” They are a source of fresh ideas, and they love spearheading new projects but usually get bored when it comes to following through on those ideas. 

On the other hand, Integrators are process-oriented people who love talking about systems, KPIs, and optimization. They are the perfect match for a visionary because the visionary can kickstart new projects while the integrator can focus on keeping the ones that succeed afloat and systematizing them, so they can advance to the next level.

 

 

The problem that most law firm owners are facing is that they are simply trying to do it all by themselves. They want to be both the visionary and the integrator. To create marketing strategies, manage legal cases, handle billing, hire new team members, support client inquiries, implement new tech, and more. They are trying to cover at least 3-5 roles with limited time and attention. This caps their growth and also creates a lot of stress and overwhelm.

 

That is why the biggest gap preventing you from scaling is not strategy; it’s implementation. A lack of good ideas is not the problem; it is the lack of a team and processes to turn them into successful endeavors. That’s exactly why our new Fractional Support Services provide you with pre-vetted paralegals, virtual assistants, and on-site administrative staff you can delegate to hourly, so you can focus on your zone of genius.

 

How to Truly Scale Your Law Firm

To take your law firm to the next level, you need to consistently be running two processes:

Process one: Attracting, converting, and retaining new clients

Process two: Attracting, converting, and retaining new employees

 

The first process generates the sales and cash flow to keep growing your law firm. The second process ensures this growth is not capped by your available time, energy, and focus. Together, they unleash fast law firm growth without the bottleneck of your time.

 

By this logic, the biggest gap preventing you from scaling is partnering with the people who have the strengths and resources that complement yours. If you currently lack time, hire someone who has time. If you lack a certain connection, hire or partner with someone who has it. By embracing a mindset of partnerships, delegation, and collaboration, you can effectively “clone yourself” and multiply your outcomes without multiplying your workload.

 

With our new Fractional Support Services, you can quickly bring operational staff to support you. They cost 60% less than a full-time employee, and are trained in the legal industry to save you time and handle your day-to-day administrative tasks professionally.

 

 

Strategically Grow Your Law Firm

This is why at Amata we go beyond traditional office space. We are creating a hub for innovation, growth, and profitability. By providing flexible office plans with Fractional Support Staff like hourly paralegals, administrative assistants, and VAs, we give you everything you need to scale your law firm without more overwhelm.

 

If growing your law firm currently feels like a trade between money and sanity, if every day you wake up to an overcrowded inbox, constant fires from your team, and not enough profits to justify all this effort, and if you want a pull of great talent who will cut your workload while adapting to your cash flow needs…

 

Then we cannot wait to serve you with our unique “office-as-a-service” model. Speak to one of our team members here and let us get you the support to scale a profitable, freedom-giving law firm.

Fractional Legal Staff: A Real-World Checklist of Things They Can Do For You

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Running a small law firm is demanding. You wear many hats, juggling cases, managing clients, and overseeing every detail. Hiring additional staff can be tempting, but the prospect of onboarding a full-time employee—the cost, the commitment—can be daunting.

At Amata, we understand your hesitation. That’s why our fractional staffing solutions are designed specifically for small firms like yours, offering the benefits of dedicated support without the burden of full-time overhead.

 

Are You Worried About Your Fractional Staff’s Onboarding?

Perhaps you’re worried about:

  • Integration and Training

    Will a fractional paralegal or admin seamlessly integrate into your existing workflow? Yes. At Amata, we take the time to understand your firm’s unique needs and ensure your fractional staff is fully trained on your preferred tools and procedures. Think of it as a seamless extension of your team, not a disruptive addition. 
  • Accountability and Quality

    Can you trust someone working part-time to deliver high-quality work and meet deadlines? Absolutely. Our staff is comprised of pre-vetted, experienced legal professionals. We prioritize clear communication through daily logs and regular reviews, keeping you informed and ensuring your standards are met. 
  • Cost-Effectiveness

    Will fractional staffing actually save you money? Most definitely! You only pay for the support you need, eliminating the expense of salaries, benefits, and office space for a full-time employee. This allows you to scale your team up or down as your caseload dictates, maximizing your return on investment.

From the moment you engage Amata, our team prioritizes a smooth transition. Our proven onboarding process ensures your fractional staff is quickly brought up to speed on your firm’s processes.

 

Here’s an example of a real-world onboarding schedule we use when working with clients:

 

  • Day 1: Initial Meeting and Setup: We schedule the initial meeting to understand your specific needs and establish clear communication channels. We outline daily and weekly tasks and request access to necessary tools and platforms.

    This initial day is dedicated to getting you familiarized with your fractional team, and understanding your preferred software and procedures. 
  • Day 2: Detailed Instructions and Supervised Execution: We schedule a follow-up meeting to ensure a clear understanding of expectations. This session is recorded for future reference, allowing your fractional staff to revisit the information as needed. Under your supervision, they begin executing the assigned tasks. 
  • Day 3: Independent Task Execution: Gradually your fractional staff starts tackling tasks independently. They can refer back to the recorded instructions for any clarification, freeing you from constant supervision while maintaining accuracy. 
  • Day 4: Tasks Repetition and Output Delivery: The team repeats the tasks to ensure proficiency and consistent quality output. Completed tasks are delivered to you for review, keeping you in complete control of the process.

 

Ongoing Daily and Weekly Review

Amata fosters a culture of transparency and accountability. This commitment is reflected in our ongoing communication practices:

 

  • Daily Logs: Your fractional staff meticulously maintains a daily log detailing completed tasks and progress made. This log provides you with real-time insight into their work and allows for immediate course correction if needed. 
  • Weekly Reviews: Collaboration is key. We schedule regular weekly reviews where you and your fractional staff can discuss all tasks, ensure alignment with your goals, and address any concerns promptly. 
  • Proactive Adaptation: The legal landscape is dynamic, and your needs may evolve. Amata recognizes this. We hold regular meetings to discuss new tasks or changing requirements, ensuring your fractional staff is equipped to handle them efficiently.

Amata: Your Partner in Success

Amata’s fractional staffing solutions are designed to empower small law firms like yours. We offer:

 

  • Flexibility: Tailor your support to your specific needs. Need help with legal research for a few hours a week? Done. Want a paralegal to assist with all pre-trial tasks for a specific case? We’ve got you covered.
  • Focus on Your Core Business: Free yourself from administrative burdens and focus on what you do best – practicing great law.
  • Peace of Mind: Know that your critical tasks are being handled by qualified professionals, allowing you to serve your clients with confidence.

Don’t let concerns about traditional staffing hold you back. Contact Amata today and discover how our fractional legal staffing solutions can streamline your workflow and save you time while providing an accountable team all along the way.

The One-Paralegal Trap

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You know the feeling. You’re a solo practitioner or run a small law firm, juggling a packed caseload and keeping your clients happy. Then, the email arrives – your trusty paralegal, Sarah, is out sick.

Suddenly, your carefully calibrated workflow explodes. Deadlines stack, discovery requests pile up, and preparing for that upcoming court appearance feels like climbing Mount Everest in flip-flops.

This is what we call “employee failover.” It happens when you rely on one person for everything – drafting legal documents, managing deadlines, conducting research – and they are the glue that holds your practice together.

But as you one day realize, that person is a human being who gets sick, takes vacations, and sometimes even, heaven forbid, moves on to other opportunities.

This scenario is more than just a headache; it’s a recurring nightmare for countless small firm owners in Chicago.

The One-Paralegal Trap

What happens when a key team member, like your paralegal, is unexpectedly out of the office? Missed deadlines, frustrated clients, and scrambling to catch up can quickly disrupt your firm’s momentum. And unfortunately, it’s up to the founder to take on the burden.

If you’re a law firm with one FTE paralegal and they’re out for any reason, you can be in a world of trouble. Forget weekends with the family or catching up on that ever-growing stack of legal journals. Your evenings and Saturdays become dedicated to scrambling to cover for workload. You answer frantic calls from clients asking about the status of their case, desperately trying to maintain the illusion of everything being under control.

This constant firefighting creates a vicious cycle: sacrificing personal time to meet client demands, which leads to exhaustion and can potentially bring your entire workflow to a halt.

The solution is to have a fractional paralegal or admin staff step in on an ad-hoc basis to ensure continuity. This is especially important if you regularly go to court.

Should you just hire another full-time paralegal? If you can afford it and have enough workload to keep them busy, go for it. But let’s face it: Hiring a full-time paralegal comes with a hefty price tag – salary, benefits, office space – which are hard on small firms, especially during periods of fluctuating case volume.

 

Amata’s Fractional Services Save You From the ‘One-Paralegal Trap’

Amata provides access to a network of pre-vetted, experienced paralegals and legal administrative professionals in Chicago. Here’s how Amata can save the day:

 

  • Fractional Talent, Full-Time Support: Imagine having a pool of qualified legal professionals at your fingertips. With Amata, you can hire a fractional paralegal for just the hours you need – a few days a week during peak periods, or even just to cover for Sarah’s vacation. This flexibility allows you to scale your team up or down as your caseload dictates.
  • Instant Employee Fail-Over: So, Sarah gets the flu? No problem. Use Amata’s network to find a qualified replacement immediately. This ensures critical tasks remain on track, deadlines are met, and your clients don’t suffer from the fallout.
  • Cost-Effective Expertise: Amata eliminates the burden of recruiting, onboarding, and managing full-time staff. You only pay for the support you use, freeing up valuable resources to invest in growing your firm.

Don’t let employee downtime be the reason you can’t enjoy a weekend barbeque with your family or attend your child’s soccer game. Amata offers the perfect solution – access to experienced legal talent, on your terms, at an affordable price.

Contact Amata today and discover how fractional paralegals and admin support can empower you to focus on what matters most – practicing great law, with strong profit margins, and enjoying a healthy work-life balance.

Running a ‘Lean & Mean’ Boutique Law Firm

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“I walked away from my law career to save my health.” This is how Jamie Sign, an attorney in California, titled her article. The post has more than a hundred likes and comments from other lawyers empathizing with her struggles working with “Big Law.”

The reality is that mental health is becoming a top priority for lawyers of all ages. Sacrificing everything at the altar of success is no longer the only narrative that’s available for attorneys. Today, new voices for sustainable work-life balance are rising.

 

Revenue Is Vanity, Profit Is Sanity

As a law firm owner, you may find yourself in a tricky situation where your firm wants to grow but doesn’t want to deal with more complexity. In the beginning, it may have been just you and a couple of friends, but as you expanded the team, the expenses started to pile up. Now, you have more mouths to feed, and the pressure of bringing in new business and expanding the business can accumulate like a pressure cooker.

 

At that point, you may find yourself making more revenue but receiving less actual-cash-in-hand at the end of each month. Making less profit while stressing more is hard enough to discourage even the most enthusiastic lawyers, and that’s when the question pops up:

Should I go back to when my law firm was a simpler business, I was making good money, and we had a small but might team?

For some, the answer is definitely yes. Attorneys like Jamie Rubin (who we interviewed in The 1958 Lawyer Podcast) intentionally decided to stay “lean & mean.” He runs a boutique law firm in a niche market, where they can focus on doing great work for a handful of clients.

 

The question is, what if you still want to grow your law firm but do it in a way that’s profitable and keeps you sane?

Finding Your Sweet Spot for Profitable Growth

Venture-backed companies have popularized the notion of scaling, and it has become the promised land for many companies. But for bootstrapped companies, a healthier, more realistic notion is that of sustainable growth.

 

Each organization needs to find its sweet spot between growth and profitability. In periods of high growth, it’s okay to invest heavily in new team members, software, advertising, and infrastructure. But there are also periods of retaining clients, improving systems, and streamlining costs, which are essential to maintaining a healthy balance.

 

At Amata, we want to make this balancing act easier with our Fractional Support Services. With them, you can hire paralegals, virtual assistants, and legal support staff on an hourly basis. Our pre-made packages can save you up to 60% compared to a full-time employee, and also save you time on recruiting new employees.

With the right setup, you can generate a healthy profit margin while still having steady growth and room to hire and delegate. Your core team can be composed of only the full-time hires that you are essential to your firm, like the owner and associates. Your fractional team can be composed of paralegals, virtual assistants, and on-site admin staff.

 

Whether you expand or contract, your fractional team can adjust and protect your profitability. We even have a pay-as-you-need-it model when none of our pre-made packages suit your needs.

 

In this way, you can run a profitable ‘lean & mean’ law firm that allows you and your employees to enjoy a healthy work-life balance with steady growth.

Interested in learning how our Fractional Support Services can get you there? Contact our team here and we’ll answer any questions for you.

Legaltech News: Flexing Their Market Muscles, ALSPs Can Elicit Tech Discounts For Small Firms

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Read the full piece here or below:

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PPP: IRS and SBA Issue New Guidance

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Salary Loans Historical Photo

Like most new government programs, the PPP has been followed by a stream of clarifying guidance from the relevant federal agencies. Whether you have such loans already or are seeking to get them, you should be aware of the details.

Tax Responsibilities

The IRS has clarified that no deduction is allowed under the Internal Revenue Code for an expense that is otherwise deductible if the payment of the expense results in forgiveness of a covered loan pursuant to the CARES Act. Also, the income associated with the loan forgiveness is excluded from gross income for purposes of the IRC. Further details are available in IRS Notice 2020-32.

Disbursement Rules

The SBA has issued guidance that answers questions about the PPP loans. A key question for businesses is whether a borrower can take multiple draws from a PPP loan and thereby delay the start of the eight-week covered period. No, says the SBA. The lender must make a one-time full disbursement of the PPP loan within 10 calendar days of loan approval. For the purposes of this rule, a loan is considered approved when the loan is assigned a loan number by the SBA. Further details are available in Docket Number SBA-2020-0022.

Corporate Group Loans

The SBA addresses an issue much covered in the press: Can a single corporate group receive unlimited PPP loans? The answer is no. Notes the SBA: “To preserve the limited resources available to the PPP program, and in light of the previous lapse of PPP appropriations and the high demand for PPP loans, businesses that are part of a single corporate group shall in no event receive more than $20 million of PPP loans in the aggregate. For purposes of this limit, businesses are part of a single corporate group if they are majority owned, directly or indirectly, by a common parent.” Further details are available in Docket Number SBA-2020-0023.

Businesses should note that guidance is subject to change, and for the latest information, they should stay in touch with financial professionals.

The Importance of a Professional

Many companies who are seeing success in applying for loans have been very active with their bank representative. It’s a difficult time and many are further exhausted from the first round of applications and rejections in, what feels like to many, a rigged game. However it is important you do not give up and continue keeping in touch with your bank representative; actively following up and applying for these programs.

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