In the big scheme of things, only a small percentage of taxpaying Americans have the IRS audit their tax returns. However, finding out that you are now the subject of an audit may prove stressful and anxiety-inducing. It may help calm your nerves to recognize that...
Experienced Representation In Business Law, Estate Planning And Tax Law
Godfrey Illinois Law Blog
Is the seller trying to hide something about the home you want to buy?
Finally, you have found a house in Illinois that you love. The down payment and mortgage are no problem, but there is more to do before officially moving forward. Home inspections are a critical part of the process, but you can take a few steps on your own to...
Things you should do before starting a business
With a new year and a new decade in full swing, you may have decided it is the right time to start your own business. Although it can be stressful, starting a business can be very fulfilling. There is a significant commitment required for a successful business, and it...
Do pour-over wills pass through probate?
Some people set up trusts to keep assets from going through probate. However, individuals with complex estates might neglect placing one or more assets into a trust before they pass away. To prevent this from happening, some Illinois residents compose pour-over wills...
Real estate tax realities under new tax code
While most people in Illinois know that income tax money funds many programs and services, it is understandable that residents wish to keep their tax liabilities to reasonable levels. The ability to deduct certain items from a tax return allows consumers the chance to...
Does Illinois offer tax credits to entrepreneurs?
Figuring out how state taxes work is often a challenge for entrepreneurs and small business owners in Illinois. Overestimating or underestimating your company's tax liability may create a difficult financial burden and make it harder to succeed. Fortunately, Illinois...
Common mistakes when starting a small business
Starting a small Illinois business is a balancing act. Your work and personal lives are about to change in big ways. Dedication is part of your successful formula. You also have to plan, plan and plan some more. Otherwise, you are setting yourself up for common...
What mistakes should I avoid with my startup?
Starting a business in Illinois is a huge undertaking. Finding success in the business world is difficult, and you have probably heard the statistics about business failure. However, that should not chase you away from following your dreams. You can help ensure your...
How do I decide on the proper bid for a home?
You have to make so many considerations when buying a home that you may forget about the most important one: how much you will pay for it. The fun part of buying a house is getting to walk through the different options and see what is available. It is also exciting to...
Can you terminate a revocable trust?
If you include a trust in your Illinois estate plan, you may later want to revoke it. In the case of revocable trusts, the grantor, or person who created the trust can terminate the trust in his or her lifetime. Whether you have a trust already or wonder about whether...