Blog Post

Business Formation Workshop

Lavelle Law • August 15, 2024

A Lavelle Law Breakfast Briefs Presentation

September 11, 2024

7:45 – 9:00 AM

1933 N. Meacham Rd., Suite 127

Schaumburg, IL 60173


Have you ever wanted to start your own business but are unsure how to organize it? If so, then this seminar is for you. We will discuss the organizational steps you should consider when forming your new venture. Tips for selecting the appropriate form of entity will be provided, including a discussion of the income tax consequences flowing from each choice. We will also highlight the organizational documents needed for each entity type, with a focus on the importance of shareholder and operating agreements. There will be time for you to ask questions of our panel. The seminar will conclude with a special package offer to attendees for our services.


Doors will open at 7:45 for a complimentary continental breakfast and the presentation will begin at 8:00. Registration is required as seating is limited. No walk-ins. 

REGISTER


MEET THE PANEL


Ted McGinn is the managing partner and a shareholder of Lavelle Law and focuses his practice on business formations, capital structuring, mergers and acquisitions, and other transactions. He also provides guidance in areas of intellectual property including trademarks and copyrights, handles employment and labor law issues, and represents individuals and businesses in bankruptcy and other debtor relief and wind-down strategies. Mr. McGinn serves as Immediate Past Chair of the Board of Directors for the Schaumburg Business Association and is a member of the Schaumburg Business Development Commission of the Village of Schaumburg. Additionally, Ted supports the Palatine Area Chamber of Commerce’s Young Entrepreneurs Academy (YEA!) and currently serves on the Harper College Legal Studies Advisory Committee.


Steve Migala is one of the shareholders of Lavelle Law, and is an experienced business attorney practicing in the following areas:

  1. Corporate / M&A: Steve counsels business organizations in all stages of their life cycle, from start-up issues, contract negotiation and documentation, assets and equity sales/purchases, and mergers and joint ventures.
  2. Banking: Steve represents banks and borrowers in commercial lending and workout matters, including negotiating and documenting a variety of loans and forbearance agreements, as well as handling foreclosures and other collection actions.
  3. Real Property: Steve represents sellers, buyers, landlords, and tenants with acquisitions, dispositions, and leasing of real estate, as well as with related municipal zoning matters.
  4. Estate Planning: Steve assists business owners with their succession planning and exit strategy, as well as their estate plans, probate, and trust administration.


Steve serves on the Planning and Zoning Commission in the City of Elgin and is a member of the Board of Directors for the Elgin Area Chamber of Commerce. He is a former chair of the Chicago Bar Association’s Corporation and Business Law Committee.


Frank Portera manages the Corporate Compliance Practice Group at Lavelle Law, and focuses his practice on new business formations, drafting shareholder/operating agreements, and mergers and acquisitions. Through Frank’s general business law practice, he works closely with many business owners to assist them in applying for and maintaining trademarks and negotiating commercial lease agreements. Mr. Portera serves on the Board of Directors for the Arlington Heights Chamber of Commerce and is a member of the Arlington Heights Zoning Board of Appeals. He also serves on the Board of Directors for Gerry’s Café in Arlington Heights. Frank received both his B.A. and J.D. from Marquette University in Milwaukee, Wisconsin.


More News & Resources

Lavelle Law News and Events

FinCEN Eliminates BOI Reporting Obligations!
By Frank P. Portera March 25, 2025
On March 21, 2025, the Financial Crimes Enforcement Network (FinCEN) issued its interim final rule stating that those entities previously classified as "domestic reporting companies" are now exempt from all BOI reporting requirements. On the other hand, all foreign entities registered to do business in the USA must file their own initial BOI reports within 30 days of the initial final rule's publication, if they have not done so already.
Join us April 3, 2025 for Business After Hours 5-7 PM
By Lavelle Law March 19, 2025
Spring is here, and with baseball season kicking off, we’re stepping up to the plate with our annual Lavelle Law Business After Hours event. We’re excited to partner with our friends in the Schaumburg business community for an evening of networking, good vibes, and a few surprises—all hosted in the friendly confines of our Schaumburg office. Bonus points: Feel free to rock your favorite baseball team’s gear and show off your fandom while you’re at it!
Delaware Court  Provides the Standard of Supreme Review for the Redomestication of Corporations
By Steven A. Migala and Anthony Letto March 12, 2025
Delaware corporations seeking to redomesticate to another state should be advised that on February 4, 2025, the Delaware Supreme Court issued its highly anticipated decision in Palkon v. Maffei, C.A. No. 2023-0449-JTL, addressing a challenge to TripAdvisor's redomestication from a Delaware corporation to a Nevada corporation. The case raised important questions regarding the standard of review applicable to such reincorporations, particularly when fiduciaries may derive a benefit from shifting to a legal regime perceived as more friendly.
Illinois residential zoning laws and significant opportunities for property owners.
By Chance W. Badertscher March 12, 2025
Recent legislative efforts in Illinois are reshaping the state’s approach to residential zoning, with significant implications for the housing market. A new bill, House Bill 1814, introduced last week, aims to eliminate single-family zoning in municipalities across Illinois. If passed, this bill will allow for the development of multi-unit buildings in areas currently zoned exclusively for single-family homes. This initiative, alongside a similar bill introduced last year, has the potential to address the state’s growing housing shortage and make housing more affordable for middle-class families.
LATEST UPDATE on the Corporate Transparency Act and BOI Report Filings
By Frank J. Portera and James Berg March 11, 2025
On February 27, 2025, FinCEN issued an immediate press release stating it would not impose fines, penalties, or take any other enforcement actions against companies that fail to file or update Beneficial Ownership Information ("BOI") reports pursuant to the Corporate Transparency Act ("CTA") by the current deadlines. FinCEN also announced that it would be revising BOI reporting deadlines through an interim final rule set to be issued no later than March 21, 2025.
IRS Releases its List of Dirty Dozen Tax Scams for 2025
By Timothy M. Hughes March 10, 2025
The IRS recently published its yearly list of most prevalent tax scams known as its Dirty Dozen. The list is obviously not exhaustive but an attempt to warn taxpayers of trends seen by the IRS. The IRS list of tax scams for 2025 came with a warning for taxpayers, businesses, and tax professionals to watch out for common schemes that threaten their tax and financial information.
Success Story – Small Business Owner Recovers Substantial Amount Levied by the State
By Tax Law March 5, 2025
Lavelle Law represented a small Illinois business owner who had accumulated a large sales tax balance due to their accountant’s negligence. Unbeknownst to the client Illinois Department of Revenue (“IDOR”) was at the levy issuance phase in its collection. And the IDOR levied the taxpayer’s account right after the taxpayer had deposited funds from a HELOC that was obtained to provide capital to the company for the next 6 plus months.
New statutory provisions on potential income included in new Illinois child support law.
By Joseph A. Olszowka February 27, 2025
The Illinois legislature has recently taken a significant step in closing a longstanding loophole in child support. This amendment represents a pivotal change in how courts assess and calculate child support obligations, providing greater protections against those who attempt to evade their financial responsibilities.
LATEST UPDATE on the Corporate Transparency Act and New Deadline for Filing BOIR
By Frank J. Portera February 20, 2025
This article will serve as another update to the ongoing Corporate Transparency Act developments. As of February 17, 2025, a federal judge in the Eastern District of Texas lifted the injunction it had ordered on January 7, 2025, in Smith v. U.S. Department of the Treasury, 6:24-cv-00336 (E.D. Tex.), allowing the federal government to once again enforce the Corporate Transparency Act and its Beneficial Ownership Information Report requirements.
A Step-by-Step Guide to Bringing a Lawsuit in Illinois
By Sarah J. Reusché February 14, 2025
This article is the second in our Litigation 101 series. It focuses on the flip side: how to sue someone else. Suing someone is a serious decision that requires careful thought and preparation. Before pursuing legal action, it’s crucial to reflect on the issue and understand the steps involved in bringing a lawsuit. This article outlines the basics to help you approach the process with confidence and make informed decisions.
More Posts
Share by: