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Michael Mooney publishes “Helping Associates Transition to Partnership”

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Law Journal Newsletter
Michael Mooney, the firm’s managing partner, published “Helping Associates Transition to Partnership” in the Law Journal Newsletter on March 13. The article provided advice for firms on how to prepare their associates for the financial status changes that occur once they are elected partner. Michael points out that by preparing your associates ahead of time you will ensure that the goodwill generated by their elevation to partner is not lost by the overwhelming financial changes. Key topics the firm should address well before the partnership election include tax status and estimated payments, FICA and the Medicare hospital tax, benefits, retirement plans, and capital contributions.
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