The Corporate Transparency Act Guide for Small Businesses

By |2024-01-04T11:21:54-06:00January 19th, 2024|Blog, Business Law, Business Structure, Federal Law, Small Business|

The Corporate Transparency Act has gone into effect this year. In the ever-evolving business landscape, staying on top of regulatory changes is crucial. The Corporate Transparency Act (CTA), effective from January 1, 2024, brings important requirements for small businesses across the United States. Let's dive into the key aspects of the CTA and what [...]

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The Paid Leave for All Workers Act in Illinois

By |2024-01-04T11:21:22-06:00January 12th, 2024|Blog, Business Law, Business Structure, Compensation, Employment Law, Hiring Practices, Illinois State Law, Small Business|

The Paid Leave for All Workers Act has gone into effect this year. If you are an employer, this new law may affect your workforce and policies around paid leave. Starting January 1, 2024, Illinois has become a trailblazer by implementing the Paid Leave for All Workers Act, signed into law by Governor JB [...]

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Unlocking Tax Savings for Business Owners: Section 1202 Stock

By |2023-10-03T11:00:28-05:00September 29th, 2023|Blog, Business Law, Tax Law, Tips|

Tax savings for business owners may be found in the Qualified Small Business Stock. As a business owner or professional looking to invest in small businesses, you're likely always on the lookout for ways to optimize your financial strategy. One powerful but often overlooked avenue for reducing tax liability is Section 1202 stock, also [...]

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The Employee Background Fairness Act

By |2023-07-13T10:48:23-05:00July 14th, 2023|Blog, Business Law, Employment Law, General, Hiring Practices, Illinois State Law, Small Business|

Illinois Governor, J.B. Pritzker, recently signed the Employee Background Fairness Act into law, bringing significant changes to the hiring practices of employers in the state under the Illinois Human Rights Act. This law aims to ensure fairness in the employment process by prohibiting employers from disqualifying job applicants based solely on their conviction records, [...]

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Can You Handwrite a Will?

By |2023-06-22T10:57:57-05:00July 7th, 2023|Blog, Business Law, Estate Planning, Estate Planning|

Can you handwrite a will? Technically, yes. But SHOULD you handwrite a will? No. Creating a will is an essential step in planning for the future, ensuring that your assets and wishes are properly distributed after your passing. Fans of HBO's popular show Succession, learned this in a shocking episode in season 4. With [...]

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Estate Planning for Family Businesses

By |2023-05-18T09:47:38-05:00May 19th, 2023|Blog, Business Law, Business Structure, Estate Planning, Estate Planning, Small Business, Tips|

As a family business owner, you've worked hard to build a successful enterprise that reflects your family's values and legacy. However, as you approach retirement, it's important to plan for the future of your business and ensure a smooth transition of ownership and management to the next generation. Estate planning for family businesses can [...]

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Top Estate Planning Strategies for Business Owners

By |2023-05-11T11:06:46-05:00May 12th, 2023|Blog, Business Law, Estate Planning, Estate Planning, Small Business|

Estate planning strategies for business owners should consider both your professional and personal goals. As a business owner, you have likely invested a considerable amount of time, effort, and resources into building your company and accumulating wealth. However, without proper estate planning strategies in place, much of that wealth may be lost or subject [...]

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The Gucci Family Feud: What Family Businesses Should Know

By |2023-03-23T11:13:37-05:00March 24th, 2023|Blog, Business Structure, Estate Planning, Small Business|

The Gucci family feud is arguably one of the most famous family feuds of our time. Gucci is one of the most iconic and successful luxury fashion brands in the world today. However, there was a time in the 1980s and 1990s when the brand was on the brink of bankruptcy and its reputation [...]

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Successful Business Succession Planning in 5 Steps

By |2023-03-16T10:46:52-05:00March 17th, 2023|Blog, Business Law, Business Structure, Estate Planning, Small Business|

Successful business succession planning is an essential part of ensuring the long-term success of any business. It's important to take the time to make well-informed decisions when it comes to your succession plan. A successful business succession plan includes identifying and preparing a successor to take over the leadership of the company when the [...]

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Updates to Severance Agreements That Employers Need to Know

By |2023-03-09T10:27:36-06:00March 10th, 2023|Blog, Business Law, Business Structure, Employment Law, Small Business, Unemployment|

Changes are being made to what can be included in severance agreements. If you are an employer, you need to be aware of recent decisions made by the National Labor Relations Board. What's the Purpose of a Severance Agreement? A severance agreement is a contract between an employer and an employee that outlines the [...]

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