By Jim Calloway

The end of the calendar year is an important time for law firms. Some firms have many client projects that must be completed by year’s end. For larger law firms, it is often the time to contact business clients carrying outstanding balances on their bills. Paying deductible business expenses before year’s end is often positive for the client and, given the way law firms calculate bonuses for their lawyers, might even increase a lawyer’s year-end bonus in addition to adding to the firm’s total revenue for the year.

Based on my anecdotal observations, it is also the time some lawyers consider whether staying with the law firm is right for them or whether they should consider starting their own practice. That is a decision lawyers can only make for themselves.

Your Reasons to Not Go Solo Are Wrong: The Top 10 Fears of Going Solo by Roy S. Ginsburg on Attorney@Work is a short piece outlining the top 10 fears and responding to each of them. These are, of course, Mr. Ginsberg’s opinions. But it is certainly an interesting read.