When estate planning is something that most people think that only extremely wealthy people need, they may not consider how it could benefit them. Misinformation about estate planning may be part of why two out of every three adults do not have a thorough estate plan....
A corporation is a type of business structure. You may best know this type of business as being the type that offers stocks. There are two main types of corporations: S and C. According to Nav, each type of corporation has distinguishing features that can help you...
Your employees are the lifeblood of your Illinois-based business. Without them, you may not have the success that you currently enjoy. As their employer, you promise steady income in exchange for their skills and abilities. An employment contract can aid you in...
Many people put off making their wills for a variety of reasons, from believing their estate is too small for the need to fearing all the paperwork and questions involved. According to U.S. News, the more specific individuals are when writing a will, the simpler it is...
Wills and trusts both represent important estate planning components. If you expect to leave assets to your children and grandchildren when you die, one or both of these structures will guide your wishes for your estate. Review the differences between wills and trusts...
You feel ready to look for a successor for your Illinois-based business. What qualities should you seek to feel comfortable with your decision? The Minority Business Development Agency offers several tips for choosing viable candidates. Provide yourself with peace of...
The discussion about the minimum wage is ongoing in the U.S. Many people want to raise the wage, but those who oppose it say it will destroy small businesses. According to CNBC, both sides have valid arguments about the impacts of a minimum wage increase. Increases...
Past posts on this blog described scenarios where one must file an estate tax return. Among these situations is when an estate is subject to estate tax. Yet these posts also detail the fact that if the total taxable value of your estate comes in under the federal...
As a business owner, you will likely eventually sell your share of the business. This can happen due to other obligations, health reasons or a simple wish to retire and move on to different ventures. Once you reach that point, what are your options? How do you pass...
Creating a partnership agreement for your business will ensure you protect yourself and your partners. You may think it is awkward, especially if you go into business with family and friends, but in the end, you will be glad you did it. The U.S. Chamber of Commerce...
