When you run your own business, the importance of accurately preparing your taxes cannot be understated. Part of getting things right include identifying and claiming all deductions for which your business is eligible to reduce your taxable income. If your business makes or resells goods, the “Cost of Goods Sold” is a significant business tax  … Read more

If you own a small business, you know that every operational decision matters. One of the more important decisions is when to hire employees for your business or when to utilize independent contractors. The two are entirely distinct classifications and knowing the difference matters a great deal. If you misclassify your employees as independent contractors,  … Read more

Guardians may be appointed for adults who have been legally determined incapable of handling their own personal or financial affairs due to mental illness, mental deterioration, physical incapacity, or other form of recognized disability. There are two types of guardianship appointments. The first is a guardian of the person, who makes decisions about the person’s  … Read more

When you get married, you become a part of a team. A team that lives together, grows with children, and works with the hope of one-day enjoying retirement together. Married couples also put their estate plan together. This is because estate planning is about securing the future for each other and for your children. If  … Read more

Many of us have causes that we are truly passionate about, causes that are personal, or that hit us at our moral core. We volunteer, we advocate, we fundraise, and we donate. Estate planning allows for us to continue our commitments to the causes we believe in. In fact, charitable giving can be a smart,  … Read more

The law in Illinois presumes that anyone over the age of eighteen is able to make their own decisions about their lives or their money. There are, however, exceptions to this rule, such as when a person suffers from mental deterioration, mental illness, or debilitating physical disability. In these instances, a person over the age  … Read more

The point of estate planning is to create a stable and predictable method of distributing your property when you pass away, while maximizing the amount that your heirs ultimately receive. People work closely with their attorneys to meticulously create their plans, which can involve any variety of gifting, wills, and trusts. However, one aspect of  … Read more

When you run your own business, you wear a great many hats. You find that you have responsibilities that you didn’t anticipate, and find yourself spread pretty thin. It is therefore critical for new business owners to learn to prioritize their responsibilities and to discover and develop systems to operate efficiently. One of the duties  … Read more

Taxpayers lose millions of dollars per year due to scammers stealing from honest, hard working people. The IRS has invested a lot of time and money attempting to thwart the problem, but the criminals involved continue to advance in their technology and adjust their tactics to continue to steal. For your own protection, you should  … Read more

  A joint will is a single will executed by a married couple that determines how all of their property will be distributed upon their deaths. Generally, in such a document, upon the death of the first spouse, all property will transfer to the other spouse. For the rest of that spouse’s life, the survivor  … Read more