Antitrust LawsuitNational Association of Realtors
Decades-old norms regarding Realtor commissions and other policies surrounding home buying and selling have been swept away by the March 15 court settlement between the National Association of Realtors and groups of homeowners who filed suit against the realtors’ group arguing that home buyers should pay their agents’ commissions directly
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Corporate Transparency Act struck down as unconstitutional
Corporate Transparency Act
While Congress might have had worthwhile purposes in passing the Corporate Transparency Act, a section of the 2021 National Defense Authorization Act, it’s nonetheless unconstitutional, according to a federal judge’s summary judgment ruling in an Alabama case brought by the National Small Business Association (NSBA).
The Act requires most entities incorporated under…
Employee or Freelancer? New Rules for Independent Contractors
Employee or Freelancer?
Is a person who works for your business financially dependent on you, or can they potentially independently profit based on their skill set? Will they be part of your company indefinitely? Do they perform a central, daily, integral role? Do you dictate when, where and how they work? Do you limit their…
Going Through a Divorce? Don’t Forget to Disinherit Your Soon-to-be Ex
For parents going through a divorce, the right-now priority is to retain matrimonial attorneys to negotiate or litigate a plan to divide up assets, determine alimony and child support payments, and haggle over children’s residency and visitation schedules.
And it’s understandable that’s the top focus from a legal standpoint. But assuming you and your soon-to-be…
Beware the Cryptocurrency Exchange Account
Looking for a reason not to use a cryptocurrency exchange account?
If you are looking for a reason to use a cryptocurreny exchange account, you may now have a reason not to use one…..or at least check out the terms and conditions of the exchange.
One thorny question has arisen and needs the attention of…
Estate Planning Insights: The Widespread Impact of Wills
Did you know that according to recent statistics, a significant percentage of adults still don’t have a will in place? Here’s a glimpse into the current state of estate planning:
1. Widespread Gap: Surprisingly, approximately 60% of adults worldwide do not have a valid will. This means the majority of individuals are yet to formalize…
Chicago Employers Required to Give 10 Days Paid Leave—Starting in Six Weeks
Starting on January 1, 2024, most employers in the will be required to provide five days of paid leave for any reason. Thanks to an City Council ordinance passed earlier this month by a 36-12 vote, Chicago employers will have to double that amount, including five sick days and five vacation days, under one of…
When Partner Leaves Partnership, What are the Tax Implications?
Tax Implications When Leaving a Partnership
When a partner leaves a business, the resulting transaction can take the form of a payment to the retiring partner to redeem his or her share of the business, or a sale of that share of the business to the remaining partners. Either way, the person who leaves obtains…
Employer Paying for Employees’ Transit Costs?
Transit Benefits Required for Illinois Employers
Another wrinkle for employers in the Chicago area.
Businesses located in the six-county Chicago area near public transit routes operated by the Regional Transportation Authority (RTA) that have at least 50 employees will be required as of Jan. 1, 2024, to provide their full-time employees with pre-tax public transit…
Illinois now requires Long-Term Temps to be paid like Employees
Long-Term Temps to be Paid Like Employees
Both Illinois employers that contract with temporary labor service agencies, and those agencies themselves that do business in the state, should review staffing contracts and ensure compliance with relevant policies and procedures under amendments to the Illinois Day and Temporary Labor Services Act signed by Governor J.B. Pritzker,…