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We’ll recommend a tailored accounting and advisory solution designed to support your firm’s success. In total, airport officials said there were four passengers and two crew members onboard the plane, which had arrived from Houston. The aircraft was headed for the Paris-Vatry Airport in France, but had stopped in Bangor for fuel and de-icing services. The Arnold & Itkin and Abraham How Bookkeeping for Law Firms Strengthens Financial Health Watkins law firms each donated $300,000 to First Tuesday in support of their efforts to elect Democrats in 2024.” The N10KJ plane is registered to KTKJ Challenger, LLC and the address linked to that tail number is the same address of the Arnold & Itkin, a Houston law firm. In Houston, security was tight on Monday outside the offices of Arnold & Itkin on Memorial Drive, where Houston Police officers were seen guarding the building.
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Our process also aligns with IRS standards for expense categorization, revenue recognition, and documentation to ensure your books are audit-ready and fully support your tax filings. We stay current with regulatory updates and conduct regular internal reviews to maintain best practices. Several other planes were taking off before the wreck, but the airport was also de-icing aircraft waiting on the tarmac — and it remains unclear whether the ill-fated jet had been a part of those procedures. Arnold and Itkin also donated $10 million to the Texans for Truth and Liberty PAC, which was founded by the firm’s founders. The PAC, however, appears to be focused mainly on Republican primaries. Large donations from the PAC went to GOP members of the Texas House who voted alongside Democrats on an amendment that would have gutted a bill aimed at blocking abusive litigation practices.
- The N10KJ plane is registered to KTKJ Challenger, LLC and the address linked to that tail number is the same address of the Arnold & Itkin, a Houston law firm.
- Law companies use this information to determine whether they need to hire lawyers, update software, or expand their target audience.
- Sources tell ABC13 that the two other victims on the plane are another employee and the plane’s co-pilot.
- Such dynamic information ensures stable company operations over the long term.
- We use secure, cloud-based platforms, like QuickBooks to provide real-time financial visibility, secure data access, and efficient workflows through a dedicated client portal.
- Both lawyers reached great results with several multi-million dollar cases and share an impressive profile.
- Monthly reporting allows lawyers to analyze business trends, identify inefficient activities, and forecast revenue.
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Please join us in holding the Mastrascusa family in your thoughts and hearts, and consider making a contribution to help them through this challenging time. Your support will make a meaningful difference as we https://canvomagazine.com/how-bookkeeping-for-law-firms-strengthens-financial-health/ surround this family with love and hope.” Nick touched the lives of so many in our community through his kindness, dedication, generosity and friendship. As we grieve this unimaginable loss, our hearts are with the Mastrascusa family and all who knew and loved Nick. We are coming together to support Natalia and the children during this unthinkable time, helping to provide for their immediate needs and future as they navigate life without Nick.
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Meanwhile, Kurt Arnold’s landmark judgements included $117 million single-plaintiff personal injury verdict in Louisiana and a $44 million single-amputation verdict in the United States. Kurt has been honored by The Best Lawyers in America for his exceptional work in both personal injury litigation and maritime and admiralty law. This incident comes 3 days after Arnold and Itkin were named to the 2026 Lawdragon 500 Leading Lawyers in America, in the Plaintiff Litigation category.
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The family of pilot Jacob Hosmer, 47, confirmed his death on Tuesday but declined to comment. Hosmer started working for Arnold and Itkin seven months ago as a “team captain,” according to his LinkedIn page. He had been a licensed flight instructor and the managing member of Platinum Skies Aviation LLC, incorporated in Texas in late 2024, online records show. A founding partner of the Arnold & Itkin law firm is listed as the agent for the company that owns the plane. Arnold & Itkin had not released an official statement as of Monday evening. The firm’s founders are well known across Texas for their legal work, political and civic involvement, and major philanthropic contributions.
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- The experienced bookkeepers at BooksTime understand the latest legal accounting regulations.
- PORTLAND, Maine (AP) — As snow from a massive storm began to fall in Bangor, Maine, on Sunday night, six people who had stopped to refuel a Paris-bound luxury jet prepared for takeoff.
- Hosmer started working for Arnold and Itkin seven months ago as a “team captain,” according to his LinkedIn page.
- “Given the weather conditions at the time and the history of wind contamination with this particular aircraft, I’m sure that’s something the NTSB is going to look into immediately,” he said.
- Incorrect trust accounting can lead to regulatory violations, hefty fines, and the loss of clients due to reputational damage.
Federal officials and the law firm have not yet released official statements regarding their identities. HOUSTON, Texas (KTRK) — The family of Nick Mastrascusa has identified him as the fourth person on board the corporate jet owned by the Arnold & Itkin law firm that crashed Sunday night in Maine. We offer expert-led, done-for-you bookkeeping built specifically for attorneys and law firms. Seven people were killed and one seriously injured after a plane crashed at a Maine airport on Sunday. Kurt Arnold and Jason Itkin are co-founders of Arnold & Itkin LLP, a nationally recognized trial law firm based in Houston, Texas. The law firm specializes in catastrophic injury, maritime, energy and workplace litigation.