As the economy improves, more and more entrepreneurs are considering starting or expanding their small businesses. However, most small business owners do not have the financial resources to do this without obtaining outside funding. If you are looking for funding for your business, you will need to provide prospective funders with a well-thought-out and professional business plan, regardless of the …
I get a lot of questions regarding spousal support, especially in farm and ranch divorces with complex financial issues. I completed a Fact Sheet for the National Agriculture Law Center on this topic here. You can read all of the family law fact sheets on agriculture here. Share this Article
At the end of September, the Department of Labor issued a new overtime pay rule that will take effect on January 1, 2020. According to the Department of Labor, the new rule will make 1.3 million American workers newly eligible for overtime pay. It is important for small businesses with employees to be aware of the changes to avoid violating …
Sometimes farm and ranch families have domestic violence issues (as do all types of families). I worked on a Fact Sheet on Orders of Protection for the National Agriculture Law Center here. You can read all my fact sheets as it relates to family law issues with agriculture here. Share this Article
Tax season is just around the corner, so now is a great time to make sure that you are retaining all the documentation you need to back up the income, deductions, and credits listed on your small business’s tax return. Keeping the proper records is not optional—it is required by the Internal Revenue Service (IRS). Recordkeeping System The IRS does …
You have spent years building your small business, but have you taken time to consider what will happen to it when you retire, become disabled, or pass away? Although it is often hard to fathom an event that may not occur for many years, it is important to put plans in place in advance. The failure to do so could …
If you follow me then you know that I loooooove Alternative Dispute Resolution. In fact, I’m a trained mediator myself and I teach mediation as an adjunct professor at the University of Illinois School of Law. There is nothing that gives my heart more joy (well, except for puppies and baby goats) when I am able to resolve divorces through …
As a small business owner, you have invested large amounts of time and money to make your business a success. Business insurance protects this investment in the event of unexpected damage to property or lawsuits, which could otherwise be devastating to your business. There are many types of insurance available depending upon the nature of your business. Worker’s compensation insurance …
In Illinois, it is within the trial court’s discretion to give the dependency status to one parent because the tax dependency issue is viewed as an issue of support. In re Marriage of Evanoff and Tomasek, 2016 IL App (1st) 150017 (1st Dist. 2016), In re Marriage of Sawicki, 346 Ill.App.3d 1107 (3rd Dist. 2004). If a court allows the …
When I say that divorce is one of the Big D’s that hurt multi-generational family farms, I am mostly referring to equitable distribution issues. Read my fact sheet on this issue here. You can also check out all my fact sheets with the National Agriculture Law Center on family law issues here. Share this Article
Among those who desire to own their own business, many attempt to build a company from scratch. That, however, is not the only available option. Purchasing a company that is already in existence is a valid alternative. If you are interested in potentially acquiring a business instead of starting one from the ground up, there are several vital questions to …
Oftentimes in a divorce or separation, people assume that assets need to be divided… but that isn’t *always* the case, especially with farm and ranch divorces. Read my Fact Sheet on Keeping the Farm Business Intact with the National Agriculture Law Center here. You can read all of the fact sheets on family law issues with agriculture here. Share this …