Blog
Distributions from Retirement Funds under the CARES Act
The Coronavirus Aid, Relief, and Economic Security Act or CARES Act eliminates the early distribution penalty on withdrawals from retirement plans under certain circumstances. Typically, if an individual withdraws funds from a qualified retirement plan before age 59 ½...
Stimulus for Small Businesses – Emergency Grants up to $10,000 for Small Businesses that Apply for Disaster Loans from the Small Business Administration
The Corona Aid, Relief, and Economic Security Act referred to as the CARES Act provides for Emergency Grants of up to $10,000, for small businesses including corporations, LLCs, partnerships, sole proprietors, not for profits, and certain other organizations with 1 to...
Stimulus for Small Businesses – Non-Recourse Paycheck Protection Loans under the CARES Act
The Corona Aid, Relief, and Economic Security Act referred to as the CARES Act provides for Paycheck Protection Loans to small businesses, including corporations, LLCs, partnerships, sole proprietors, not for profits, and certain other organizations with 1 to 500...
Video: Coronavirus (COVID-19) and Estate Planning
The coronavirus (COVID-19) pandemic is causing innumerable and unique challenges around the globe. Now more than ever we need to focus on the well-being of ourselves and families. An incredibly important part of this process is to establish (or review) your estate...
What is an Essential Business during COVID-19?
Essential Businesses & Operations Executive Order 20-10 requires all non-essential businesses and operations to cease all activities exceptfor minimum basic operations. Non-essential businesses may also continue operations consistingexclusively of employees or...
Governor Pritzker’s Executive Order in Response to COVID-19 (Stay at Home Order)
EXECUTIVE ORDER IN RESPONSE TO COVID-19(COVID-19 EXECUTIVE ORDER NO. 8)WHEREAS, I, JB Pritzker, Governor of Illinois, declared all counties in the State of Illinois as a disaster area on March 9, 2020 (Gubernatorial Disaster Proclamation) in response to the outbreak...
How To Fix a Problem with a Retirement Interest Divided as Part of Divorce
Under Illinois law, if you discover a problem with your “qualified domestic relations order” commonly referred to as a QDRO - there may be a legal way to fix the problem. When a couple divorces, some retirement benefits may be divided by QDROs. QDROs are complicated...
Should I Establish my Illinois Business as a Corporation or an LLC?
A major advantage to establishing your Illinois business as a Corporation or Limited Liability Company (“LLC”) is that you can protect your personal assets from the creditors of the business. There are also tax advantages to establishing a business entity like a...
New Cannabis Law as it Relates to Employment
On January 1, 2020 the Cannabis Regulation and Tax Act became effective in the State of Illinois. The Act allows individuals 21 years of age and older to possess up to 30 grams of marijuana for recreational purposes. The Act also amends the Illinois Right to Privacy...
