Archive | Business


Illinois Rolls Back LLC Fees

This is the season to be pro-business.  First President Trump and Congress passed significant tax reforms that are intended to help businesses, especially small businesses.  Whether or not this occurs will be seen.  However, one area in which the Illinois Government has reached out to help Illinois businesses is to lower the filing fees associated […]

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New Restrictions on Non-Compete Employment Contracts

Illinois continues to be an employee friendly state in some ways, including in the area of non-compete clauses. A non-compete clause, or covenant not to compete, is a provision of a contract in which one person agrees not to compete against another person or business after termination of the relationship. Employers often require employees to […]

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Portrait of a senior man looking of thoughtful

The Fiduciary Idea

Social pundits have said that kids who grew up in the 1970’s are part of the “me generation”. They are forty and fifty somethings now. Our survival-of-the-fittest world encourages people to “look out for number one”. In that context, the fiduciary idea is counter-cultural.  (more…)

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New Employee Reporting Requirement

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~  Employers need to beware of the new requirement of the Illinois Employee Classification Act to file a report to the State Department of Labor for every independent contractor that is not incorporated or organized as an LLC. By January 31, 2015, contractors and subcontractors in the construction industry must file a report to the State […]

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Aesop’s Pretty Good Business Fable

Aesop had a good thing going. He had a great family, owned his own home and was operating a small, but successful, construction business doing home additions. Based on a radio advertisement for do-it-yourself, legal work, he decided he should incorporate. The ad said it would protect him from liability. Aesop followed the instructions and […]

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