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Blog Post
Toolkit to Elevate Your Business
Lavelle Law • May 13, 2021
A Good Morning Schaumburg Presentation
Are you looking to start or grow your business as we emerge from the pandemic? Are you considering changing your existing business from a sole proprietorship to an LLC or an S Corporation? In a recent “Good Morning Schaumburg” presentation, Lavelle Law attorneys discussed how to choose the correct entity for your business, as well as how to structure the relationships among the entity and its owners through the careful use of shareholder and operating agreements. New and emerging businesses seeking to raise capital learned how they can do so through certain private placements of their securities without the need to incur the time and expense of registering them with the SEC and the Illinois Securities Department. Watch this video as attorneys Ted McGinn, Samantha Bonamassa, and Steve Migala outline the tools needed to grow your business. For follow-up questions, reach out to one of the attorneys at 847-705-7555.
More News & Resources
Lavelle Law News and Events
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.
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.
On December 11, 2024, we published an article titled “Corporate Transparency Act on Hold: Key Implications for Businesses,” which addressed the nationwide injunction impacting the enforcement of the Corporate Transparency Act and its Beneficial Ownership Information Reporting rule.
Since then, there have been a few significant legal developments that businesses should monitor closely. While the Financial Crimes Enforcement Network is currently prohibited from enforcing BOIR requirements, ongoing litigation, and the related appeals may alter this status. Below, we provide a timeline of key events and insights into what business owners should anticipate moving forward.
The Internal Revenue Service is issuing automatic payments to eligible people who did not claim a Recovery Rebate Credit on their 2021 tax returns. The payments are in follow up to an IRS announcement last month of the intent to take this special step. The IRS took this step after reviewing internal data showing many eligible taxpayers who filed a return but did not claim the credit. The Recovery Rebate Credit is a refundable credit for individuals who did not receive one or more Economic Impact Payments (“EIP”), also known as stimulus payments.
The Fair Labor Standards Act (FLSA) establishes federal minimum wage and overtime pay requirements, with exemptions for employees in bona fide executive, administrative, professional, computer or outside sales roles. 29 U.S.C. § 213. Employees classified as "outside sales" must primarily engage in making sales or obtaining contracts for services or the use of facilities, and they must conduct their work primarily away from their employer’s place of business. 29 C.F.R. § 541.500.
Amendments to BIPA
SB 2929 became effective on August 2, 2024. Codified as 740 ILCS 14/10 and 14/20, this Act introduced two pivotal changes to BIPA that dealers should be aware of:
• Limiting Per-Scan Damages: The amendments clarify that a single violation under BIPA accrues per type of violation, rather than per scan. This significantly reduces the financial exposure for dealerships.
• Electronic Consent: The amendments formalize electronic signatures as a valid means of securing biometric consent, streamlining compliance processes for businesses.
The National Taxpayer Advocate recently released her annual report to Congress. A few highlights from the report are summarized in this article.
Nearly 300 New Illinois Laws are going into effect in 2025. Listed below are some that may have a significant impact on you or your business.
As we say farewell to 2024, we’re excited to look back on the unforgettable moments from our Koozie Challenge! From the frozen wonders of Antarctica to the excitement of the Paris Olympics, and countless incredible destinations in between, the Lavelle Law koozie truly went the distance this year! A big thank you to our clients, staff, family, and friends who took part in the fun. Here’s to even more adventures in 2025! Happy New Year from Lavelle Law!
Schaumburg-based Lavelle Law wrapped its annual food drive benefiting the Schaumburg Township Food Pantry. During the month of October, Lavelle Law set up collection boxes around Schaumburg and the surrounding area, where residents and workers could drop off nonperishable food items, paper goods, personal care items, baby food and diapers. Participants could also make cash donations online.
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