CTA – Federal Reporting Requirements for Small Business The paper work for many small businesses will be increasing. Many small businesses with 20 or fewer employees and $5 million or less in gross receipts or sales will be subject to new federal reporting requirements under the Corporate Transparency Act (“CTA”),…
How to Prepare for 2021 Wow, 2020 was a year to forget! I hesitate to say it was interesting because it was not. It was more like a nightmare as we coped with a public health crisis, an economic crisis, a political crisis, and a civil rights crisis. Let’s put…
Employees can be required to vaccinate. The federal government has stated that workers can be barred from work if they refuse the vaccine. Employers can make a COVID vaccination a condition of employment. But, employers must also consider exemptions for employees with disabilities or religious objections. After a long delay…
Updated December 7 The Chicago area and Illinois business owners are facing a number of challenges and the CoronaVirus pandemic is threatening the continued viability of their business. Here are some of the more frequently questions asked by business owners. Residential Evictions can proceed under certain conditions The moratorium in…
Are virtual business transactions the new reality? Once consummated in title company conference rooms amid seemingly bottomless stacks of paper, real estate transactions—like seemingly every other aspect of our lives—have gone virtual during the pandemic. While some home buyers opt to continue in-person closings where possible, others are either giving…
Crypto economy has arrived. An actual physical bank will soon be providing the full slate of deposit-taking, custody and fiduciary services for cryptocurrency such as bitcoin. The Cheyenne, Wyoming-based Kraken Financial on September 16 became the first digital asset firm in the U.S. to obtain…
Employers Need to Mask Up Against Lawsuits Small businesses face a dizzying swirl of regulations from different levels of government about whether patrons and employees are required to wear masks during the pandemic, as well as whether employers are required to either purchase masks for employees or reimburse them for…
Women-Owned Small Business Ends Starting October 15, in a stepped-up effort to ensure that all applicants are eligible, the U.S. Small Business Administration will no longer allow women-owned small businesses or economically disadvantaged women-owned small businesses to self-certify that they meet the requirements for the Procurement Program for Women-Owned Small…
Is commercial real estate set to rebound after 2020? The pandemic and resulting stay-at-home orders from governments and private employers has upended the commercial real estate market on a number of fronts. And we are now looking square into the Pandemic Recession which has just begun. For now, it’s merely…
How private is your cell phone? Smartphones provide all kinds of information that advertisers might find useful, including the user’s locations throughout the day. While this information is aggregated and anonymized—excluding names and other identifiers—it’s possible that hackers or other malevolent actors could gain access to a user’s raw data.…