Buy-sell agreement
A buy-sell agreement is a binding contract - between you and your co-owners - that controls when an owner can sell his interest, who can buy an owner's interest and what price will be paid for that...
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5 Basics About Buy-Sell Agreements
When starting a business, having a partner brings some obvious benefits over going it alone, but what happens if both individuals decide to eventual go their separate ways or one faces a life-altering...
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10 Steps to Give Your Business a Legal Kickstart
So you have a great new idea or a way to improve on an existing one, but what now? Starting a business is no easy task and the requirements to do it correctly can seem overwhelming. But, while there...
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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...
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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...
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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....
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Illinois Land Trusts Explained
In Illinois, individuals have a unique option for holding title to real estate not otherwise available to individuals in the vast majority of other states. The Illinois Land Trust is a creation of...
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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...
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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...
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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 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 ArticleWhat to Know About the New Deduction for Qualified Business Income for Small...
The Tax Cuts and Jobs Act, otherwise known as the tax reform bill includes some provisions which should prove beneficial to pass-through business owners. For those unfamiliar with the concept of...
View ArticleGive Your Business a Quick Legal Check Up for 2018
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...
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