Business Formation & Planning

Illinois is a popular place to start a business, but not necessarily an easy place for entrepreneurs. A state government report revealed that Illinois led the Midwest in the number of filings for new business startups in 2021. Indeed, it was among the top 10 states in...

Starting a business is hard and can be complicated, especially when you finally need to make it, “legal.” Part of getting right with the law is deciding on the right business entity, and broadly, the Internal Revenue Service recognizes several business types: the sole...

Proper business organization requires a fundamental understanding of many converging factors: financial investment and profits, management structure and personal and entity liability. A relatively new type of business entity, the limited liability limited partnership,...

An employee handbook is an important way for a business to share important information with its employees. If you are the owner or manager of a business, your employee handbook outlines your policies, procedures and the rules that govern your company. It can cover...

There are many decisions to make when starting up a business and business forms to choose from when it comes time to make that important decision. In some cases, it makes sense to register a business as a corporation. There are multiple types of corporations, and two...

There are several different business forms that new business owners can choose from when setting up their business. It is helpful to be familiar with what they are and what the differences between the different business forms are. Different options for business...

Setting up a business is an important and exciting step for a new business owner. Because of that, new business owners should be familiar with the different options they have the implications of each to help them make the best business formation decision possible....

Starting a new business can be both exciting and terrifying. You’ll have a lot of decisions to make at the outset, including what form your business will take. If a partnership is one of the forms you’re considering, it’s important to understand the different types of...

Selecting a business form is an important decision and its importance may sometimes be overlooked.  Putting together a new business requires many different decisions and the decision of what business form to select should be carefully considered. Start your business...

You built your business in Chicago from the ground up and you have seen considerable success throughout the years. A once small enterprise now hires many people, has a solid and significant client base and has caught the interests of investors. At this point, you may...