What You Need to Know about Paying Yourself as a Single-Member LLC

Rincker Law Business/Commercial Law Leave a Comment

You are a new business owner and have decided to organize your business as a limited liability company (LLC). You are its sole owner and work for the company. How do you pay yourself? Are there guidelines regarding how often and how much you are entitled to? How do self-employment taxes come into play? The answers to these questions depend …

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Ask Cari: What do I need to Know About Family and Medical Leave as a Small Business Owner?

Rincker Law Employment and Labor Law Leave a Comment

Federal law has required certain businesses to offer family and medical leave for decades. An increasing number of states have also enacted or considered passing laws requiring businesses to offer family and medical leave. For small businesses, these laws have distinct pros and cons. This article discusses some of the most important factors small business owners should keep in mind …

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Ask Cari: What are Stay Bonus Agreements?

Rincker Law Business/Commercial Law, Employment Law Leave a Comment

Do you have certain key employees who help make your family business a success? Keeping those employees may be essential to a successful transition of ownership and management to your children or another new owner when you retire or pass away. A “stay bonus” (also called a retention bonus) is a strategy that is frequently used by large companies during …

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Illinois Business Law: Registering LLC’s Formed Out-of-State

Rincker Law Business/Commercial Law Leave a Comment

What happens when you form an LLC in another state but want to regularly conduct business within the State of Illinois?  These are called “foreign LLC’s.”  A foreign LLC must be admitted by the Illinois Secretary of State to transact business in Illinois.  To do this, the foreign LLC must submit an application for admission to transact business as a foreign …

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I Need To Hire Someone for My Business; What Do I Need To Know?

Rincker Law Business/Commercial Law, Employment Law Leave a Comment

The goal of most businesses is to grow – at least somewhat.  However, in order to grow or to be able to step away from the business for a personal life, vacation, or other ventures, you’ll need help with day-to-day operations.  If you’ve never hired someone before – or it’s been a long time – don’t worry – here’s the …

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