Business Planning in Illinois
Business formation and succession planning is a necessary step when opening a business and makes the business a distinct legal entity. There are four main types of business formation options: Limited Liability Company (LLC), partnership, sole proprietorship, and corporation. Learn more about your options
What Is a Company For?Creation of a common fund for a common purpose is a good reason to create a business (or nonprofit, or political, or social benefit) entity.
Read more- Business Succession Planning: Funding the Plan
There are two basic sources of funding your business succession plan. Either the seller funds the transition plan, or the buyer does. How you fund the plan will affect the price, the terms, and the subsequent involvement of the selling owner.
Read more - Consolidating Management of Business or Property Using an LLC or Family Limited Partnership
Baby boomers over time have acquired various parcels of real estate or are participating in a number of businesses. In order to minimize their estates for estate tax purposes, they may be gifting minority interests in these entities to their children as the tax law may allow.
Read more - You Own the Business; Should you Own the Space?
Both individuals and businesses are faced with the choice of whether to lease or whether to purchase property. Many of the same considerations apply whether the property is an automobile, a personal residence or an office condo or building. These considerations need to be weighed by the individual or company to determine which is the right decision for you.
Read more - Preserving Business Value When Acquiring Real Property
As business owners go about building their wealth, it’s not unusual to acquire real estate.
Read more - Which Business Entity is Right for You
You have decided to start your own business and have begun researching into, among other things, which business entity is right for you. There are partnerships, S-corps, C-corps, LLPs, LLCs and PCs. Quite frankly, your research is starting to look like alphabet soup.
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