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 [...]

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 [...]

New Laws for Businesses in 2021

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 [...]

2021-01-13T10:32:31-06:00January 13th, 2021|Employers, Employment Issues, Small Business Law|

New Scheduling Requirements for Employers

Earlier this week, on July 1st, 2020, Chicago enacted the Chicago Fair Workweek Ordinance. Coming at the same time as an increase in the minimum wage, the Ordinance supports and enforces workers’ rights to a fair and predictable schedule. The Ordinance requires certain employers to post schedules 10 days in advance and pay employees extra for sudden schedule changes, [...]

2020-07-02T10:52:54-05:00July 2nd, 2020|Employers, Employment Issues, Small Business Law|
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