As a result of the coronavirus pandemic, only three new laws take effect this year that affect Illinois businesses. The statewide minimum wage increased. The minimum wage in Chicago will increase this summer. Chicago has also extended some licensing and permitting deadlines. New Laws for Businesses in 2021 Normally a new year brings a bevy of new laws. Last [...]
Freelancers work at the mercy of the market. If you're freelancing during COVID-19, the see-sawing economy may make you want to shelve your business for a while. But this may actually be the ideal time to officially form an LLC for your freelancing business. Seems crazy, right? But official registration confers many benefits, we think that by the end [...]
With the holidays behind us, it’s time to get back to business and, with the turning of the calendar, your policies and processes might need to be updated to match changes in the law. The Illinois legislature passed several laws last year, effective on January 1, which affect small businesses. Here are some of the most relevant changes: The [...]
What is an annual meeting? Every year, corporations gather together all their shareholders to talk about the state of the company. This is an annual meeting. It’s also called the “general meeting” or the “shareholder’s meeting.” Are all businesses required to hold an annual meeting? It depends. LLCs only need to hold one if required in the company’s [...]
Today would be my Grandma’s 94th birthday. She influenced my life in uncountable ways. One I’ve been thinking about a lot lately is her life’s work with my Grandpa: owners of the family hardware store passed down by my great-grandfather. Her name probably wasn’t listed on any official business documents, but she was just as foundational to the business [...]
