Financially Legal is a twice-monthly podcast with accompanying articles on the financial aspects of the business of law. Host, Dan Lear, talks with law firm leaders, academics, business professionals and thought leaders to provide compelling and provocative insights at the intersection of finance, economics, and law.

Oklahoma is Latest State Looking to Allow Credit Card Surcharges

Posted by Emery Wager on February 13, 2020

Oklahoma Attorney General, Mike Hunter, in a recent opinion said a state ban on surcharging is most-likely unconstitutional. Surcharging is the practice of charging an additional fee when clients pay by credit card.

Clients should know what it costs law firms to accept credit cards, and those clients should have the option to save money by paying with less expensive methods. Since card brand surcharging rules prevent firms from charging more for the surcharge than the amount of the transaction, it ends up not being a money-making scheme but a clear way to communicate how much those airline miles really cost.

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Topics: Firm Financials, Credit Card Fees, Business of Law


The Real Cost of Accounts Receivable

Posted by Emery Wager on February 3, 2020

Getting clients to pay isn’t easy. As more invoices remain outstanding, accounts receivable creeps upward. As an attorney responsible for the firm's financial success, it's important to understand the real cost of accounts receivable. Here's a simple way to estimate those costs.

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Topics: Firm Financials, Business of Law


Understanding Credit Card Processing Fees for Law Firms

Posted by Emery Wager on January 15, 2020

For many law firms, credit card processing fees are a sizeable item on the income statement. Because there are a wide variety of different types of processing fees, it can be difficult to figure out exactly how much you’re paying. It's also why, at Gravity, we try to simplify this process as much as possible, primarily by offering a fair and transparent pricing structure while providing all the important information in a one-page monthly statement without the jargon. In this article we'll cover the three different categories of processing fees as well as the most commonly-used credit card processing pricing models. 

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Topics: Firm Financials, Credit Card Fees, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Oklahoma?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is probably, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in West Virginia?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is probably not. See below for all the details. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Tennessee?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in North Dakota?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Nebraska?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is maybe, but probably not. See below for details.  

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Montana?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Missouri?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Mississippi?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is probably not. See below for all the details. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Minnesota?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Michigan?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is probably not. See below for all the details. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Maine?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is not unless it is done by raising prices by the amount of the charge and then discounting those prices for clients that pay by means other than card. Below are more details. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Louisiana?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Kentucky?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Kansas?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is not unless it is done by raising prices by the amount of the charge and then discounting those prices for clients that pay by means other than card. Below are more details. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Iowa?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is maybe, but probably not. See below for details.  

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Indiana?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is maybe, but probably not. See below for details.  

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Delaware?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Arkansas?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Alaska?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Alabama?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is probably not. See below for all the details. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Wyoming?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Wisconsin?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Vermont?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Virginia?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Utah?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in Texas?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is probably, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


Can Law Firms Charge Clients for Credit Card Fees in South Carolina?

Posted by Emery Wager on January 1, 2020

Introduction

The short answer is yes, but there are certain rules and regulations to understand. 

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Topics: Firm Financials, Accounting, Surcharging, Business of Law


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