New Bill Requires Employers to Set Up Mandatory IRAs for Employees

A new bill has been passed by the Illinois State Senate that requires employers to set up retirement accounts for all of their employees. This bill passed earlier this week imposes significant requirements on business owners throughout the state. It is unclear yet what effects this employer managed retirement account law will have on employer […]

Options for Selling Your Small Business Online

Has your profitable business become too much for you to manage on your own? Are you interested in early retirement, or in making a sharp career change? Are you ready to become a small business owner, but would prefer to purchase a business that’s already up and running? If you answered yes to any of […]

New Small Business Administrator Appointed to United States Senate

Earlier this week the year-long search for a new Small Business Administration (“SBA”) leader ended with the appointment of Maria Contreras-Sweet. Contreras-Sweet was nominated by President Obama, and was confirmed this week by the U.S. Senate. Many believe that Contreras-Sweet’s appointment will breathe a breath of fresh air into the SBA, while also encouraging the […]

Interviewing Tips for Avoiding Sensitive Legal Issues

Small businesses have recently seen an increase in the hiring of new employees. In fact small business hiring is at the highest level it has reached in eight years. Hiring new employees allows small businesses to help the U.S. economy grow, and also lowers the national unemployment rate. However, small business owners must be careful […]

EEOC Offers New Guidance on Religious Accommodations

The United States Equal Employment Opportunity Commission (EEOC) is the federal agency charged with protecting the rights of employees to be free from unlawful workplace discrimination. In order to prevent such unlawful discrimination before it happens in the first place, the EEOC issues guidance to employers and business owners on how they can ensure they […]

Providing for Children Born After Your Will Has Been Executed

Philip Seymour Hoffman will be remembered as a talented actor and, sadly, for the tragic way that he died. But his sudden death shines a light on more than the dangers of illegal drug use. It also reminds us of the importance of planning ahead to provide for our families. In 2004, Hoffman executed a […]

New Higher Estate Tax Exclusions for 2014

An important part of estate planning is gifting.  The benefits include transferring assets to beneficiaries tax-free.  It also allows the guarantors to see their gifts being enjoyed by their family members and friends.  In 2014, the amount that people can transfer or gift while still avoiding taxes will be increased. With data from the Consumer […]

The Impact of CEO Divorce on Shareholders

When a couple divorces, many people in their lives may feel the effects – children, family, friends and other people in the couple’s social circles. But if one spouse is a CEO of a company, those effects can also have a large negative impact on the shareholders of that company. That’s the conclusion of a […]

Crowdfunding Act is Big Money for Small Businesses

A term heard more and more in the business world is “crowdfunding” – defined as a way of funding a project or business by raising small amounts of money from many people.” This is usually done through the Internet, using companies such as Kickstarter, Fundable, Lucky Ant, Indiegogo, just to name a few. Last year, […]

Illinois Concealed Carry Law Creates Liability Concerns for Local Business Owners

On July 9, 2013, Illinois became the 50th state to pass a concealed firearm carry law. The Firearms Concealed Carry Act requires that all people carrying a concealed firearm on their person must first register for a Concealed Carry License. This law provides exceptions, prohibiting the carrying of a concealed arm in public places such […]