Paying taxes is a necessary evil for individuals and businesses in Illinois. The main objective is to ensure that the required amount is paid in state and federal taxes while finding as many strategies as possible to mitigate it. In recent years, corporate tax rates...
Experienced Representation In Business Law, Estate Planning And Tax Law
Godfrey Illinois Law Blog
How a buy-sell agreement can save a business
Organizing a new business can be an exciting, and no one in the midst of this adventure wants to contemplate any change to a business plan whose completion that probably required several months of dedicated effort. Unfortunately, the future is infamously uncertain,...
Understanding easements
An easement gives a person, organization or government entity an interest in land that is owned by someone else. Easements are used for a specific purpose and allow the easement holder to have a right of way or use property. Types of easements There are three main...
Buying a home and dealing with CC&Rs
Purchasing a home is a major step to take in life. Thus, it is important to understand everything one is getting into before making a large purchase. While the transaction is primarily about obtaining a home, it could also encompass specific rules on how the real...
Understanding the mechanics of a special needs trust
One of the prime reasons for preparing an estate plan is to make adequate provision for the future needs of family members such as housing, health care and clothing. In families where one or more members are disabled and incapable of supporting themselves, a special...
Has your business been harmed by fraudulent misrepresentation?
A lot of small businesses in Illinois and Missouri pride themselves on their hard work and the strength of their word. This means that most of these businesses enter into agreements with the full intent of keeping their promises. But, as you’re probably well aware,...
How does business type influence financing options?
With last year’s historic boom in startups still surging ahead in 2021, many entrepreneurs are looking for ways to attract capital. In order to tap into appropriate financing sources, however, it is wise for the Illinois business owner to be aware that the choice of...
Three steps your parents should take when estate planning
The passage of time may have gone by quickly as you grew from a child to an adult. Now you may find that your parents are aging, you want to take good care of them. One way to ensure your parents are cared for in the manner they wanted, and that their wishes following...
What can be done if people cannot pay their taxes to the IRS?
The tax season is wrapping up in Illinois. Many people completed their tax returns months ago and filed them with the IRS as many people are expecting returns or do not expect to owe anything more than they have already paid throughout the previous year. There are...
Guardianships in Illinois
When a person is unable to make decisions regarding his or her personal care or finances because of a mental, physical or developmental disability, it may be necessary to appoint a guardian for that person. The person for whom a guardian is appointed is called a ward....