REPRESENTING INDIVIDUALS, BUSINESSES AND THEIR OWNERS SINCE 2002 IN ILLINOIS & INDIANA
As an attorney who has been involved in estate, business and tax planning my whole career, I have reviewed the Democrat’s proposed tax plan, and it’s an eye opener. We all expected that the “rich” would be targeted with this plan. Who is and isn’t rich is always left...
The decision to dissolve your business can be a difficult one, and the process of dissolving your business can be just as challenging. Before you can enter the next chapter of your life, there are several vital steps that you must take to close out your financial,...
We, as business owners, tend to work “in” our business, rather than work “on” our business. The tyranny of serving the customer’s needs, in a lot of instances, robs us of our ability to sit back and evaluate our business and how it operates. With many businesses...
In this time of extraordinary uncertainty and stress, the last thing you need is one more thing to worry about. But we would like to offer another productive way to spend your new-found “down time” as we wait for an end to our quarantines. After the puzzles and...
If you're starting a business for the first time, one thing you'll need to decide on is the kind of business you want to run. Will you have a sole proprietorship? Do you want to open a corporation? The kind of business you set up does matter. Certain business forms...
Wealth and a network of loved ones can each take a lifetime to build, but the government can drastically affect both in a matter of seconds after you die. If you don't plan ahead for the potential impact of estate taxes, the people and causes you care about may end up...
Some people opt to start a business alone, while others seek a partner to take the journey with them. While there is no right or wrong approach, you must be familiar with the pros and cons of each option. If you decide that a partnership is the way to go, there's an...
Many families have the goal of one day owning property in another state. Some families dream of a rustic cabin on a lake, while other families desire a vacation home somewhere warm. If you have made your family’s dream a reality, you may have some special...
Deciding on the legal structure is one of the most important decisions you will make when starting a business. You will probably decide on the legal structure early in the business formation process. However, your choice will have long-term impacts on the amount of...
As most of my clients that have heard me speak over the last 20 years can attest, I have been known to say, "Illinois is broke, so be alert to new taxes." One fact I have mentioned on several occasions is that Illinois does not impose income taxes on your retirement...
