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Hoffman Estates Business Law Blog

Should you write a business plan?

On behalf of Spagnolo & Hoeksema, LLC on Wednesday, June 6, 2018.

You may be an entrepreneur considering if you need to write a business plan. It sounds like a great idea. You would think any new business or idea may need a plan to be successful and you would be right. There are many reasons why you should make sure a proper business plan is on your to-do list.

A business plan is a list of goals for your business. It lists your plans for accomplishing the goals and says how they can be achieved. The business plan may also include information for possible investors, as well as, information on the organization’s background and the group trying to reach them.

Business owners should start planning for 2018 taxes now

On behalf of Spagnolo & Hoeksema, LLC posted in blog on Monday, February 26, 2018.

Taxes can be a particularly frustrating part of running a business. Filing on behalf of a company is often much more complicated than the average personal tax return. Audits tend to be more of a hassle as well.

Because a higher value is likely at stake, many Illinois business owners spend ample resources making sure that taxes are under control. In light of the Republican-formed tax reform policy, you might have to direct your attention to the financial implications.

Three things to know about non-competition agreements

On behalf of Spagnolo & Hoeksema, LLC posted in blog on Thursday, January 4, 2018.

If you're a business owner, you have a vested interest in staying ahead of the competition. While you achieve this goal in many ways, having top-notch employees is paramount to your success. Talent pool retention is a focal point for any business operator, but what happens when a skilled employee moves on to a competitor?

A non-competition agreement can be a valuable tool for preserving your business's interests. This contract, entered by an employee and employer, may ensure that a worker does not join a competitor after termination.

5 Ways To Prevent Partnership Disputes

On behalf of Spagnolo & Hoeksema, LLC posted in blog on Monday, October 2, 2017.

Partnerships are best cultivated with like-minded individuals. Finding someone with aligned growth strategies and management philosophies can equal an equation for success. Unfortunately, even successful business owners encounter disagreements. Disputes can not only be costly, but damage your hard-earned business. It is better to prevent them before they can ever erupt into costly litigation. Consider the following five ways to prevent partnership disputes.