0
This accounting practice varies from firm to firm and lawyer to lawyer. Some do and some do not there is no definitive answer.
Wiki User
∙ 13y ago
Add your answer:
Earn +20 pts
What is the journal entry to record a retainer fee?
Debit retainer fee expenseCredit cash / bank
What is an annual retainer fee?
An annual retainer fee is a flat fee that a client pays in advance to retain the services of a professional, such as a lawyer or consultant, for a specified period of time. This fee ensures priority service and availability throughout the year.
The fee is paid to an attorney to engage their services is called?
a retainer fee
What if your broker is requiring a retainer fee?
Lose them............fast.
Can an attorney charge two retainer fees?
Generally, unless the fees are excessive, attorneys are free to charge as much or as little as they want, and do so with whatever fee schedule they want. If the client does not like the billing method, they can hire a different attorney. It is common for attorneys to charge a set retainer that they bill against. Once that retainer has been used, they would then ask that the retainer be replenished.
What does RL FEE mean?
RL FEE may refer to a "return label fee," which is a charge associated with using a return shipping label provided by a company. This fee is often deducted from the refund amount when returning an item.
Is there such a thing as having a lawyer on standby and if so how are the payments arranged?
The term usually used is "on retainer." A retainer is basically a fee paid up front for the services of a lawyer. The details vary, but usually it works something like this: The client arranges with the lawyer to represent him in either a specific legal matter (with details to come later) or just in general (as needed). The client pays the lawyer some amount of money up front. When/if the client actually uses the lawyer's services, the cost is deducted from the amount already paid. When the costs of the services approach the amount of the retainer, the lawyer and the client must reach some other arrangement. Should the client NOT use the services of the lawyer, the retainer fee is (usually) considered refundable. What you're describing sounds like something else, since the payments are made up front in a typical retainer agreement.
How can I find a good product liability lawyer that doesn't require a retainer?
The best thing to do is to look in your local newspaper. It will have a listing for all the lawyers in your neighborhood and it will show on the ad if they have a retainer fee or not.
How much money does a coin star ded if you have fifty dollars?
The coin counting processing fee, deducted from the total once coins have been counted, is 9.8% in the USA, some stores may have a lower rate.
Can lawyer fee for civil case be deducted on taxes?
It actually depends on what the case, and the restitution is exactly for. You should ask your lawyer to advise on the tax nature of his fee's and settlement options proposed.
What happens if you cannot afford a retainer fee for a crimanal attorney?
Criminal - court through legal aid will appoint one for you.
What are retainer fees?
A retainer fee can form part of an employment contract. The easiest explanation is by example.... an actor is contracted from January to July and then again from September to December on separate contracts ... the period between July and September would ordinarily go unpaid, however, to make the job offer more attractice the employer might offer a reduced fee for this period to attract the best possible candidate for the job...the period in which the reduced fee is paid is referred to as a retainer fee and commonly, the employee will not be required to work in this period, however, the employer will probably want to retain the right to call upon the employee if needed.
