New Rules Affect Employers Effective January 1, 2022, employers will need to comply with significant new rules which restrict the use of employee non-competition and non-solicitation provisions. Among other changes, the recent amendments to the Illinois Freedom to Work Act prohibit employers from entering into non-competition agreements with employees who earn less than $75,000 annually […]
Tax Planning Opportunities Multiple proposals regarding estate tax exemptions and rates came and went during 2021, with little change to the law. This means there is still time to take advantage of the “perfect storm” of planning opportunities available in 2022. The IRS has announced the following changes to the estate and gift tax exclusions […]
Many people dream of owning their own business, which can bring a great deal of financial and career freedom if it is done successfully. However, purchasing a business can also be risky and stressful if it is not done well. Thankfully, we have compiled some of the best tips for success when purchasing a business. […]
What May Happen and What You Can Do Now The House Ways and Means Committee has now released its plan for tax changes, some of which may become law and take effect on January 1, 2022, or even sooner. Released earlier this week, this proposed legislation contains several changes to tax laws, including increased individual […]
Back-to-School Checklist: Do You Have Your “College-Prep” Legal Document Package? For many families back-to-school time means preparing your college-bound child for life away from home. Something you may not have added to your to-do list is creating advance directives for your adult children. Did you know that once your child turns 18, access to their […]
Over the past year, the widespread prevalence of the coronavirus disease has changed life for many. Moreover, COVID-19 has affected the way that many businesses must operate, and in response, many employees are finding themselves working remotely on a regular basis. Companies need to ensure that their confidentiality practices are enforced in a remote setting […]
Litigation Services You already know that K+H provides a wide array of competent legal services to individuals, families and businesses. Our accomplished Litigation Practice Group wants you to be aware that K+H regularly handles: Personal Injury Business Disputes Divorce + Family Law Contested Probate/Estate + Trust Litigation Medical Malpractice + Wrongful Death Employment Litigation Workers’ […]
The recent tax bill proposed by Senator Bernie Sanders would dramatically alter the estate tax landscape and would eradicate or severely limit a number of estate planning strategies that families have relied upon for decades. These changes could be effective after December 31, 2021, in part, as follows: Estate and GST tax exemptions to be […]
The current governmental spending, tax, financial and political climate is provoking great concern regarding controlling and preserving assets. Be proactive in protecting your wealth – consider reviewing your estate, business and tax planning options in advance of the expected “Blue Wave” Spending + Tax changes. The time to plan is now. Transferring assets in-trust can […]
Are you are considering purchasing an existing company by acquiring the stock, membership or partnership interests of the current owners, or the company’s assets? Unlike buying a car, you typically cannot test drive a business before you buy it. But much like buying a car, the purchase cannot be returned, and the payment refunded merely […]
