Clik here to view.
Estimated Taxes: What New Business Owners Need to Know
As a new business owner you have myriad things to worry about, but perhaps none cause more headaches than taxes. From itemized deductions to self-employment tax, to payroll taxes for those small...
View ArticleClik here to view.
Helpful Resources for Entrepreneurs and Small Business Owners
I’ve written a lot about starting a new business and the legal challenges that any new entrepreneur must consider when turning an initial idea into a buildable business concept, trends I see taking off...
View ArticleClik here to view.
12 Issues to Consider When Leasing a Commercial Office Space
New business owners typically need to find a commercial space out of which to run their company. In today’s economy, there is no shortage of options, especially in Midwest cities hit particularly hard...
View ArticleClik here to view.
General Partnership vs. Limited Partnership: What's the Difference?
A general partnership is the simplest form of business organization involving more than one person and it is widely used today by a variety of businesses. Formation of a general partnership is easy....
View ArticleClik here to view.
Ideas for the Top Businesses to Start in 2014
Last December I gave you 13 businesses to start in 2013 which people seemed to enjoy. So, I’m doing it again this year. According to a recent survey by Kelly Services, roughly 48% of world employees...
View ArticleClik here to view.
2014 Tax Law Changes To Know
Each year brings with it various changes to federal tax laws. Navigating all of those changes can be daunting, especially if you have little experience or knowledge about tax outside of filing income...
View ArticleClik here to view.
Getting to Know the Sole Proprietorship
LLCs are all the rage these days, but did you know that even without formally forming a business, like an LLC or corporation, you may very well be operating a business without even considering it as a...
View ArticleClik here to view.
I Have to Do What For My Employees?? Navigating Employment Law Issues for New...
Every business owner thinks about how his or her company will grow from a small entrepreneurial idea, to a budding business, to something sustainable and long-lasting. Employees are almost certainly...
View ArticleClik here to view.
Do You Need Licenses For Your Business?
The licenses and permits you will need to operate your business vary widely depending on your location and type of business. However, there are a few items that will be necessary for nearly all new...
View ArticleClik here to view.
Making Your Business Stand Out From the Crowd
I advise a number of businesses that are just starting out and looking to establish themselves in some competitive markets. While they come to me to help them sort out legal issues associated with...
View ArticleClik here to view.
Top Six Reasons To Have an LLC Operating Agreement
For many new business owners, one of the first questions they need to tackle is what type of business entity to form. From multiples types of corporations and partnerships (or sole proprietorships for...
View ArticleClik here to view.
How an LLC Works: An Illustration
One of the first decisions an entrepreneur must make after deciding to start a business is how the business should be structured. There are a number of options, from C Corporation to S Corporation, to...
View ArticleClik here to view.
LLC vs. S Corporation | Which is Right for My Business?
I'm frequently approached (virtually) by entrepreneurs that have great ideas for a new business to start. They know that they need to form SOME type of business, but often they don't know much more...
View ArticleClik here to view.
Piercing the LLC Veil in Illinois
I often receive questions from small business owners or folks thinking about starting a new business about how best to protect themselves from liability. Not surprisingly, from a legal standpoint, it’s...
View ArticleClik here to view.
Employee or Independent Contractor? Misclassification Can Be Costly
The prospect of hiring workers, while exciting, can be intimidating to new business owners, Employment law can be a confusing and time-consuming minefield, and the consequences of making a mistake can...
View ArticleClik here to view.
Unpaid Interns-- Ideal but Risky for Business Owners
An ever-popular method for small businesses to acquire some extra—albeit temporary—hands on deck is to hire interns. Typically college students with similar career aspirations are eager to gain some...
View ArticleClik here to view.
New Overtime Rules Set to Affect Many Small Businesses
Overtime protections were first put into place by the Fair Labor Standards Act of 1938, and established the general standard that workers be paid time-and-a-half for any hours worked over 40 hours in a...
View ArticleClik here to view.
What to do After Forming a Corporation
So you’ve gone through the analysis and decided that a corporation (rather than a partnership, LLC or other entity) is the appropriate formal structure for you business.You’ve filed your articles of...
View ArticleWhat to Know When Hiring an Employee in Illinois
Hiring your first employee is an exiting time for any growing small business. But, it's not as simple as just writing a paycheck to your new worker. Failure to comply with the law can have some serious...
View ArticleGive Your Business a Legal Checkup
In the words of Benjamin Franklin, "an ounce of prevention is worth a pound of cure." Few places is that more evident than in the field of law, where taking proper measures to protect one's interests...
View Article
