#law-firm-profitability

#law-firm-profitability

Preparing and submitting individual income tax returns costs taxpayers more than $91 billion a year, nearly half of which represents the opportunity cost of lost hours spent on tax compliance.

According to Bloomberg Law's Workload & Hours Survey, a third of nonequity partners also say they're undervalued in their roles and more than half say they were burnt out in 2025.

Asia Carrera, whose real name is Jessica Steinhauser, graduated from St. Mary's Law in 2024 and cleared the Texas bar exam after a previous near miss by just two points.

California has a certain kind of easy-going vibe that'll make you appreciate that business casual lifestyle. Depending on where your office is located, you may even be able to see the beach from your window.

The jury found that Ticketmaster overcharged consumers $1.72 per ticket. Live Nation argues the up to $280 million it pledged in its settlement with the Justice Department and a handful of states will ultimately prove larger than the sum based on the jury award.

This may be the last year that law firms can expect billing rate increases to drive financial stability, according to a new survey of more than 800 senior finance and legal professionals in large firms across North America, the United Kingdom and Ireland. Technology company BigHand's 2026 finance report suggests that firms can no longer rely on traditional measures of profitability, as clients are demanding more efficiency and predictability amid the increased adoption of artificial intelligence across the legal profession, according to Law.com.

For the first time in three years, more law firms are planning to expand their office footprint, rather than contract, according to a new report from commercial real estate brokerage CBRE.

Market forces such as rising attorney salaries, persistent inflation, and unrelenting demand in premium practices are giving firms the confidence to push hourly rates beyond historical norms.

Leading legal departments are shifting from reactive negotiation to proactive pricing design, setting guardrails before rates are proposed rather than responding after the fact. This approach enables departments to establish parameters and expectations upfront, fundamentally changing the negotiation dynamic and improving outcomes.