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When a person is injured because of someone else’s actions or negligence, they can be affected in multiple ways. Some of the damages that a person may experience can be easy to understand and place a monetary value on. For example, a car accident may result in medical bills and the need for vehicle repairs, and a person’s injuries may cause them to be unable to earn income while they are recovering. By detailing their expenses and the economic impact of their injury, a victim can pursue compensation for these financial losses. However, an injury may also result in emotional
Continue Reading Can a Personal Injury Victim Receive Compensation for Emotional Trauma?

Over the past year, many businesses have made accommodations in their workplaces to ensure that employees are safe from becoming infected with COVID-19. Due to the increased availability of vaccines, many people who have been working from home are beginning to return to work in person, and employers are taking steps to ensure that their workplaces are safe for employees. However, many employers are uncertain about their requirements related to COVID-19 vaccines for employees, so they should be sure to understand how the authorities in Illinois are addressing these issues.
Can Employers Require Employees to Be Vaccinated?
Currently, the State
Continue Reading What Employers Need Know About COVID-19 Vaccine Requirements

In a recent blog, we looked at the issue of tax-related identity theft, which can occur when a person steals someone else’s information and files a fraudulent tax return in their name. Another form of identity theft that is sometimes related to these illegal practices involves a person applying for unemployment benefits in someone else’s name. Unfortunately, this practice has become more widespread during the COVID-19 pandemic as scammers attempt to take advantage of expanded unemployment programs. Individuals and families who are building a wealth protection strategy will want to address any forms of identity theft quickly and take
Continue Reading How to Respond to Identity Theft Related to Unemployment Benefits

The first few months of every year are known as “tax season,” and during this time, many taxpayers compile their financial information and prepare to file their tax returns, which are due on April 15th. Unfortunately, many taxpayers may become the victims of identity theft during this time. If a taxpayer’s personal information is compromised, scammers may file fraudulent tax returns in their name, access their accounts, or use their information to open new accounts or obtain employment. A person’s identifying information may also be used to file false unemployment claims (we will be providing more information about this type
Continue Reading How Can I Avoid Tax-Related Identity Theft?

The COVID-19 pandemic has had a huge impact on the U.S. economy. In many cases, small businesses have been hit the hardest. Many businesses have been forced to close, scale back their operations, or come up with new ways of completing essential business activities. This has in turn caused difficulties for people who have been laid off or forced to reduce the hours they can work and the amount they are able to earn. To address these ongoing problems, the federal government has passed economic stimulus and relief programs meant to help businesses continue operating and paying their employees. A
Continue Reading How Has the Paycheck Protection Program Changed in 2021?

The COVID-19 crisis has placed many businesses and their employees in difficult financial situations. Some businesses have had to close or limit their hours of operation, and many employees have been laid off or had their work hours reduced. While some government relief programs have provided aid to those who have been affected by these issues, many people are continuing to experience financial difficulties. A recent executive order may provide some help in this area by allowing employers to defer some of the taxes withheld from employees’ pay.
Social Security Tax Deferral
In August of 2020, President Trump issued an
Continue Reading Payroll Tax Deferral May Help Employees Affected by COVID-19

Concerns about discrimination and harassment affect many employers and employees, and in response to these issues, the state of Illinois has passed the Workplace Transparency Act (WTA). This law went into effect on January 1, 2020, and in addition to addressing employment contracts and non-disclosure agreements, it has placed new requirements on employers regarding sexual harassment training that must be provided to employees. Business owners should be sure to understand these requirements and make sure they take the right steps to maintain compliance with the WTA.
When Will a Business Be Required to Provide Sexual Harassment Training?
The Workplace Transparency
Continue Reading Sexual Harassment Training Requirements Under the Workplace Transparency Act

In response to the financial impact that the COVID-19 pandemic has had on many businesses, the U.S. Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act in March of 2020. One of the key provisions of this act was the ability for businesses to apply for forgivable loans through the Paycheck Protection Program (PPP). However, the restrictions and requirements for these loans had caused some difficulties for small business owners, and in response, Congress passed the Paycheck Protection Program Flexibility Act, and it was signed into law by President Trump on June 5. This act implemented a number
Continue Reading How Will the Paycheck Protection Program Flexibility Act Affect My Business?

Over the weekend, the United States Congress passed the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which provides new programs and initiatives intended to assist small businesses, as well as certain non-profits and other employers.
Do You Need:
1. Capital to cover the cost of retaining employees?
Paycheck Protection Program (PPP) loans will provide cash-flow assistance to employers through 100% federally-guaranteed loans. The loans are available for employers are who maintaining their payroll during the coronavirus emergency and are eligible to be forgiven if the payroll is maintained. Borrowers are eligible for loan forgiveness for up to eight weeks of
Continue Reading The “CARES” Act — Can it Help Your Business?

There are a variety of estate planning tools that a person can use to protect their assets and pass them on to beneficiaries. Trusts are some of the most powerful and flexible of these tools, allowing a trustmaker (also known as a “settlor”) to place assets in the control of a trustee, who will then distribute the assets to the beneficiaries according to the terms of the trust. There are certain requirements that must be met during the trust administration process, and trustees and beneficiaries should be sure to understand how recent changes to Illinois law will affect their rights
Continue Reading How Will the New Illinois Trust Code Affect Beneficiary Rights?

For anyone who has suffered a personal injury, coping with the effects that it will have on their life can be incredibly difficult. This is especially true if the injury results in disability that affects a victim’s ability to work and earn an income. While it may be possible to recover compensation through a personal injury lawsuit, many people also rely on public benefits such as Social Security income (SSI) or Social Security disability income (SSDI). However, some recent changes to the rules followed by the Social Security Administration (SSA) may affect a person’s ability to receive Social Security
Continue Reading How Recent Rule Changes May Affect a Social Security Disability Claim

Over the course of your life, you are likely to save money and acquire assets, and you will probably want to use these resources to provide for the needs of your loved ones. This is particularly true if you have any family members who are disabled or have special needs, since you will want to do everything you can to ensure that they will always be taken care of. However, simply gifting funds to a person or naming them as a beneficiary in your will can actually have some negative effects. To ensure that a beneficiary will continue to have
Continue Reading How Can a Special Needs Trust Benefit a Disabled Beneficiary?

These days, more and more unmarried couples choose to live together instead of or before getting married. Consequently, they often buy property such as a house or a car together. However, unmarried couples do not fall under the same property division laws as married couples in Illinois. In order to protect both parties’ interests and assets in case of a breakup or death, it is important to have a formal agreement in place before buying property together. Often known as a cohabitation agreement, this type of arrangement is similar to a prenuptial agreement. When creating this type of agreement, an
Continue Reading Why Unmarried Couples Need a Cohabitation Agreement Before Buying Property

On Jan. 1, 2018, Section 199A was inserted into the Internal Revenue Service tax code as part of the Tax Cuts and Jobs Act. As stated in the code, Sec. 199A says sole proprietors, business partnerships, S corporations, and many trusts and estates could be eligible for a qualified business income (QBI) deduction. This lets qualifying taxpayers deduct a maximum of 20 percent of their QBI, in addition to 20 percent of qualified publicly traded partnership (PTP) income and real estate investment trust (REIT) dividends.
When the new law was announced, uncertainty remained as to what kinds of businesses would
Continue Reading What Is a Qualified Business Income Deduction?

In mid-2017, a 112-page bill from the Illinois General Assembly significantly altered the Illinois Limited Liability Company Act. Its purpose was to align Illinois law with the Revised Uniform Limited Liability Company Act adhered to in most states. In addition to affecting the formation of future companies, the law also applied to LLCs already in existence. Changes that significantly impacted Illinois business entities and individuals starting a new company include:
Clarification of Procedures for Records Inspection and Copying
If an LLC member wishes to assess the business’ transactions and financial status, the company must provide the necessary records within
Continue Reading How Recent Changes to Illinois Law Affect Limited Liability Companies

The new year typically brings alterations to existing federal and state laws, and 2019 is no exception. This year’s updates include a change to federal tax laws that will significantly impact both parties involved in divorce, while one change to state laws adds a provision designed to reduce injuries in car accidents.
Spousal Support Tax Changes 
A substantial change in U.S. tax law that went into effect on January 1, 2019 spawned an increased push to finalize divorces before the new year. To help defray the cost of the 2017 tax reform bill, spousal maintenance (formerly called alimony in
Continue Reading Changes to Federal and State Laws Address Alimony and Driving Safety