July 1st Employment Law Updates

On July 1st, two of Chicago’s municipal ordinances will see scheduled updates. The city’s minimum wage will increase. Certain employers will have to post schedules two weeks in advance. July 1st Employment Law Updates July 1st will bring a couple of important legal changes for employers in Chicago, when a couple of municipal ordinances have updates scheduled to take [...]

2022-06-15T14:30:28-05:00June 15th, 2022|Employers, Employment Issues, Small Business Law|

S Corp Taxes In Illinois (SB 2351)

S-Corp taxes recently changed in Illinois. The state legislature recently passed SB 2351, a corporate tax reform law, that has significant ramifications for S-Corporations (“S-Corps”). Before diving into the law and why it matters, we should cover some background information. What Is An S-Corp? An S-Corp is a sub-type of the classic corporate entity structure, often referred to as [...]

New Laws in 2022

In 2022, several new laws went into effect in Illinois that could impact your business. In this blog post, we will dive into each of those new laws and how they may affect you, although this is not an exhaustive list of every law effective this year. If you have any questions about what these laws mean for your [...]

2022-01-19T13:22:18-06:00January 19th, 2022|Small Business Law|

1099s For Lawyers

1099s For Lawyers This is a guest post by Jill Ulett of Accounting Girl, LLC Although you are not required to send 1099s to corporations, there is an IRS requirement to send 1099s to all attorneys regardless of their corporate status. There are two different ways to complete the 1099 depending on how the attorney/firm was paid, and the [...]

2021-12-08T10:19:47-06:00December 8th, 2021|Uncategorized|

S Corp: Is It Right For Me?

S Corps may seem complex, but they are actually a quite simple tax designation. Not all small businesses will benefit from an S-Corp designation, and the decision to file as one is very individualized. If filing as an S Corp is right for your company, it is not a complicated process; just follow the timeline! https://www.youtube.com/watch?v=JfQ9MHXHo-s This article was [...]

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