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Illinois employment law attorneysSmall businesses – especially the ones that are just starting out – must be mindful of their budget. Unfortunately, many are not quite prepared for the wide range of expenses and legal complexities. Workers’ compensation insurance. Taxes. The list goes on and on. Let one area slip, and the company could face penalties. One example is when companies fail to comply with Illinois’ minimum wage laws. Before you hire an employee, take the time to understand the law and what compliance looks like under it.

Minimum Wage Law Basics

A recently proposed bill may begin a transition to $15 an hour, but right now, employers are only required to meet the current minimum wage of $8.25 per hour. Paying employees any lower than this amount is considered a violation of the minimum wage law. Unfortunately, paying that amount does not necessarily keep your company out of trouble; there are other, more complex laws to account for as well.

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Illinois business law attorneyStarting a business as a partnership can be highly beneficial for all parties involved. Unfortunately, there are also some potential pitfalls. Some of these negative situations are so detrimental, they could place the business at risk of failure, extreme financial loss, or litigation. Then there are situations that can place partners at risk for bankruptcy and/or criminal penalties. Learn how effective planning can reduce your risk of such negative effects in your business venture.

The Why and How of Partnership Conflicts

Partners often start out as family members, friends, or colleagues who share a passion or idea. Fueled by little more than hopes and dreams, they may fail to consider that it takes more than passion to succeed in the business world. They may not examine aspects like differing work ethics, money management, or leadership styles. This lack of consideration and communication can ultimately lead to anger, frustration, and unmet expectations.

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Illinois record keeping lawyerStress during tax season is a common issue for small businesses. More often than not, it is because of multiple internal failures. Poor or inadequate record keeping, failure to keep up with ever-changing tax laws, and difficulties in maintaining day-to-day operations are some of the most common of these issues. Thankfully, it is possible to manage the stress that often accompanies tax season. The following information explains further.

Understanding the Root Causes Before you can truly address your business’s tax issues, you must first understand why they exist in the first place. For example, if your record-keeping system leaves room for error, or fails to ensure you claim every credit and deduction, it may be time to rethink how you do the books. If your issue is more related to being overworked, which can cause you to fall behind in your record-keeping duties, it may be time to outsource your bookkeeping duties. Alternatively, you might hire another employee (even if only part-time) so that you can effectively balance day-to-day business operations and daily, weekly, and monthly record-keeping. Finding a System That Works If it turns out that bookkeeping issues are, in fact, the root cause of your tax issues, it may be time to bring in some outside help. For example, an attorney can help you set up a system that will hopefully meet your company’s needs without adding more work than you can reasonably handle. Further, the input from an outside source can help you understand how to file and record certain credits and deductions; this could potentially decrease your tax load at the end of the year, which could place more profits in your pocket. Managing Employee Documents If you hire employees, general contractors, or freelancers, you must submit all documents within the appropriate time period. Last year, businesses had until the end of February to submit 1099s and W-2 forms to the IRS. This year, they needed to be in by January 31. Failure to get them in prior to the deadline could result in a penalty. So, if you are still behind on your record-keeping and filing, contact an experienced lawyer for assistance immediately. Any further delays could potentially cost your small business even more money in the end.

Contact Our Illinois Record-Keeping Attorney

Whether you are starting a new business and simply want to ensure you start off on the right foot, or are struggling to deal with the impending tax season, Miller Law Firm, P.C. can help. Dedicated and experienced, our Schaumburg, IL record-keeping lawyer can assist you with all aspects of tax-related record-keeping issues. Learn more by calling 847-995-1205 today. Source:

http://www.dentonrc.com/business-tech/denton-business-headlines/20170128-taxes-often-a-headache-for-small-businesses.ece

creditA low credit score or a poor credit history can be very difficult to overcome. For many people with bad credit, the first step toward recovery is getting a new job that pays decent, reliable wages. Unfortunately, a low credit score can create a vicious cycle as some companies refuse to hire applicants with questionable credit histories. In some situations, such screenings make sense as a person’s ability to manage finances could directly impact his or her ability to do the job for which he or she is applying. In others, however, a person’s credit score has no bearing on his or her qualifications for the available position, and a recent Illinois appellate court has determined this to be the case for most retail sales positions.

Employment Credit Privacy Act

Back in 2010, then-Illinois Governor Pat Quinn signed a measure that prohibited employers in Illinois from discriminating against job applicants on the basis of their credit history. The Employee Credit Privacy Act was drafted by lawmakers in response to the national recession of the early 2000s that left many individuals with less than ideal credit scores. Under the Act, employers are not even permitted to run a credit check on an applicant unless a “satisfactory credit history is an established bona fide occupational requirement of a particular position.” Such positions generally include those in which an employee would handle large amounts of money without supervision or has access to personal, confidential, or financial information.

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Posted on in Minimum Wage

minimum wage, Illinois employment law attorneyIn late October, Cook County officials elected to join the city of Chicago in adopting a plan to increase the minimum wage to $13 per hour by 2020. While the decision is being heralded by many as an important step toward increasing the quality of life for the county’s lowest-paid employees, it is also raising a number of concerns for several local communities.

Beginning in July 2017, the new minimum wage in Cook County will be $10 per hour, a substantial increase from $8.25—the current statewide minimum wage. In 2018, the minimum wage will go up to $11 per hour, with $1 per hour increases each year until 2020. The problem, however, is that a number of villages and towns straddle the line between Cook County and other surrounding counties. The line between Cook County and Lake County, for example, runs directly through the village of Barrington. The city of Elgin sits on the border between Cook County and Kane County.

Tough Choices

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1051 Perimeter Drive, Suite 400
Schaumburg, IL 60173
Phone: (847) 995-1205

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