Naperville Estate Planning Lawyers Discusses Foreign Trusts

In today’s connected world, more people that ever before have begun participating in a global economy. Having family members living and working both in the United States as well as overseas often brings with it a number of issues when you are deciding what will happen to your estate upon your death. As an experienced […]

Naperville Business Attorney Addresses Advantages of an LLC

For an entrepreneur, one of the most important decisions to be made in the early stages of business ownership is the selection of an appropriate business entity structure. With a number of options from which to choose, deciding on the best one requires careful consideration of the advantages and potential drawbacks of each, as well […]

Small Business Lawyer Highlights New Obamacare Changes

Business law and tax law often go hand in hand. This is particularly true since the passage of the Affordable Care Act, also known as Obamacare. Regardless of whether they support or oppose this law as individuals, many U.S. small business owners have reasonable concerns about what the law will mean for their business, and […]

What is a Sole Proprietorship?

One of the first things to decide when starting a business is deciding on a business type.  It is nearly as important as deciding what good or service your business will provide.  The reason is because of the legal, taxation and other ways that your business form will affect your business.  The three most popular […]

Starbucks Purchases Tea Company Teavana

In an effort to exert further its presence as the only place to drink, Starbucks announced plans this morning to purchase the tea company Teavana.  Teavana is a local and online presence that shows people the wonders of herbal teas.  After their initial start in Atlanta, Georgia, Teavana has expanded to over 250 stores in […]

Types of Structures to Consider When Starting a Business

When deciding to form a business, there are many different organizational structures to consider depending on your business needs.  These structures will be different in regards to taxation, management, debt responsibility, financial benefits, and legal requirements to form.  It is just as important as finding out what your business will sell, because it has ramifications […]

Pending Legislation Would Require Corporations to Annually Disclose State Income Tax Liability

The Chicago Tribune reports that a proposal currently pending in the Illinois Senate would mandate publicly traded corporations subject to Illinois income taxes to publicly disclose their state income tax liability each year. Traditionally, corporations do not make such disclosures. However, in order to protect corporate information, the disclosures would not occur until two years after the end […]

Property Tax Exemption Crackdown Law Sought by Cook County Leaders

Under current Illinois property tax laws, homeowners can claim a homestead exemption on their primary residences in order to reduce their property taxes. Unfortunately, WGN Radio reports that many homeowners abuse this exemption by also claiming it on vacation homes, rentals, and second homes. Lawmakers are supporting legislation that would give local authorities power to go […]

New Development Could Bring Numerous Businesses to Chicago Neighborhood

Plans are in the works for a 260,000 square-foot privately-funded development to potentially be built just east of the United Center, home of the Chicago Blackhawks and Chicago Bulls. Led by the Bull’s owner, Jerry Reinsdorf, the development is envisioned to include a team store, restaurants, bars, and possibly team offices, parking, and a green […]

U.S. Senate to Vote on Minimum Income Tax Rate for Millionaires

The Chicago Tribune reports that the so-called “Buffett Rule” is coming before the U.S. Senate today for a vote. While there is strong public support for the bill, which would impose a minimum 30% tax on those individuals whose adjusted gross income exceeds $1 million, Republicans are uniformly against the law, and the proposal is […]