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Today, July 1st 2020, Chicago’s minimum wage goes up. The increase marks the second stage of a plan to incrementally reach $15.00/hour by 2021. The BACP published full rules on their website; here are the essential details:
What is the Minimum Wage in Chicago?
The minimum wage used to be $13.00 across the board. The rules taking effect today (July 1st, 2020) introduce a little more nuance. The minimum wage now depends on the size of your business; businesses with a workforce over a certain size pay a little bit more.

  • Tiny (Fewer than 4 workers): $10.00 (was $9.25;

…
Continue Reading Minimum Wage Increases Today

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 of this post you’ll agree. Here are the top five reasons why freelancers should form an LLC.
Protect Your Personal Assets and Limit Your Personal Liability
First and foremost, LLCs limit your personal liability as a business owner. When you freelance…
Continue Reading Freelancing During COVID-19? Five Reasons For An LLC

“Social equity” status was a trademark of Illinois’s cannabis legalization legislation. It aims to give a leg up to license applicants from overpoliced, underinvested, and primarily minority neighborhoods. However, despite the promise of fairness, they must wait a while longer.
Cannabis Licenses for New Businesses Delayed
The state postponed the issuance of 75 new dispensary licenses for recreational adult use of cannabis until mid-July, more than two months past the target date of May 1st. These licenses prioritized “social equity” business owners in an effort to diversify a white- and male-dominated industry.
The delay can be largely attributed to the…
Continue Reading New Cannabis Licenses Delayed, Leaving Minority Entrepreneurs In The Lurch

Last updated June 9th, 2020
 
Another day, another round of revisions to the PPP.
On June 5, 2020, the President signed the Paycheck Protection Program Flexibility Act (“the Act”), a set of changes to the current rules for the paycheck protection program. Three days later, the SBA administrator and US Treasury Secretary issued a statement “clarifying” the rules in the Act. The news is mostly good, but don’t get too excited just yet – the Treasury and SBA are going to issue even more new rules and guidance for the Act, and we’ll write about those when they happen.
Continue Reading The New PPP Rules: Updates from the Latest Law

I recently had an epiphany about PPP loan forgiveness, thanks to a wise G & G Law attorney, Rebecca Lyon. For weeks, she was gently explaining to me that I didn’t need to stress about loan forgiveness quite so much. Global Pandemic Brain (anyone else experiencing this?) combined with cobbler’s children syndrome prevented me from understanding how the PPP terms applied to my own business’s loan.
 
Here’s my revelation: Forgiveness is not all-or-nothing. Partial forgiveness is likely available for PPP loans. I was stuck on all or nothing thinking. I thought that if I couldn’t figure out how to…
Continue Reading PPP Stress: Our Founder’s Revelation

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Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.
If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G Law have assembled a toolkit of accessible, easy-to-digest information that answers many common questions we’ve received from our clients. You can read more about it and purchase it here.
This information was retrieved directly from the Small Business Association (SBA)…
Continue Reading SBA and Treasury Release Paycheck Protection Program Loan Forgiveness Application

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Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.

If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G Law have assembled a toolkit of accessible, easy-to-digest information that answers many common questions we’ve received from our clients. You can read more about it and purchase it here.
This is a guest post from our good friend Kate Scully…
Continue Reading Business Insurance and COVID-19: 5 Coverage Questions [Guest Post]

Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.

If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G Law have assembled a toolkit of accessible, easy-to-digest information that answers many common questions we’ve received from our clients. You can read more about it and purchase it here.

Last updated April 28th, 2020

On April 23rd, 2020, Governor JB…
Continue Reading COVID-19 Employer Questions: New Shelter-in-Place Order

Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.
If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G Law have assembled a toolkit of accessible, easy-to-digest information that answers many common questions we’ve received from our clients. You can read more about it and purchase it here.
Last updated April 20th, 2020
 
U.S. unemployment claims topped 22…
Continue Reading COVID-19 Unemployment Benefits: What We Know Right Now

Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.
If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G Law have assembled a toolkit of accessible, easy-to-digest information that answers many common questions we’ve received from our clients. You can read more about it and purchase it here.
Last updated April 15th, 2020
 
The Economic Injury Disaster Loan…
Continue Reading COVID-19 Loans and Grants: CARES Act Updates

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Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.

If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G Law have assembled a toolkit of accessible, easy-to-digest information that answers many common questions we’ve received from our clients. You can read more about it and purchase it here.

This is a featured post from our good friend Jennifer Brugh…
Continue Reading IRS Help for Employers/Small Businesses Suffering Economic Impacts Due to Coronavirus [Featured Post]

Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.
If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G Law have assembled a toolkit of accessible, easy-to-digest information that answers many common questions we’ve received from our clients. You can read more about it and purchase it here.
Last updated April 13th, 2020
 
The monumental Coronavirus Aid, Relief,…
Continue Reading COVID-19 Employer Questions: Unemployment Expansion

This article is intended to be accessible and comprehensible. It is not all-encompassing and does not contain all the terms nor all the context. We highly recommend reaching out to your attorney, CPA, or financial advisor to get advice on your unique situation before applying for any relief listed in this article. Additionally, remember that we are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.

If your business has hit trouble because…
Continue Reading COVID-19 Resources: Loans and Grants

So far you have two big tasks on your list today, Tuesday, March 31, that I highly recommend you do ASAP in this order:

 
1) Apply for the SBA Disaster Loan.
This is how you get the $10,000 grant from the CARES Act:

    • Apply for a loan
    • Request a $10,000 advance to provide immediate economic relief.
    • Funds are supposed to be released within 3 days of the request and will not have to be repaid.
    • You can apply online here: https://covid19relief.sba.gov/#/

We recommend that you apply fast. We’ve heard rumors that funds are limited and are first…
Continue Reading COVID-19 Loans and Grants: What To Do Today

Michelle here, owner and founder at G & G Law. I spent my Sunday staying at home and analyzing the small business provisions of the federal coronavirus relief package just signed. In addition to educating myself so I can better serve our clients, I’m wondering if I should apply for loans or grants for my own small business. This is in notes form, but I wanted to get it up quickly. I know most business owners are going through a similar decision process.

Here’s what my goals are while evaluating the options:

  • Goal #1: Avoid making commitments to pay back

    • …
    Continue Reading CARES Act Small Business Loan and Grant Provisions

    Disclaimer: We are not experts in health or policy and make no guarantees as to the accuracy or timeliness of the details on this page. This page is for informational purposes only. See our full COVID-19 disclaimer for more.

    If your business has hit trouble because of the pandemic and you need guidance, the attorneys at G & G Law have assembled a toolkit of accessible, easy-to-digest information that answers many common questions we’ve received from our clients. You can read more about it and purchase it here.

    This article discusses the various employment options business owners…
    Continue Reading COVID-19 Employer Questions: Terminations, Layoffs, and Furloughs