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Immediate Action Required for Most Small Business Owners: New Federal Financial Crimes Enforcement Network (FinCEN) Corporate Transparency Act Reporting Requirements
As addressed in the KH video below, the new federal Corporate Transparency Act (“CTA”) requires most small business entities registered with a Secretary of State (e.g., corporation, limited liability company, family limited liability company, limited partnerships, etc.) with less than 21 full-time employees and less than $5 million of gross receipts to report detailed entity […]
What is Included in Your Estate?
This question can be answered differently, depending on what we mean by “estate”. Your “probate estate” includes all assets that are titled in your own individual name, with no joint owner and no named death beneficiary. In Illinois, if the total value of your probate estate exceeds $100,000, or you own any real estate in […]
Kelleher + Holland, LLC Q1 2024 Newsletter
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Navigating Paid Leave Compliance in 2024
Amy Rizzo: Good afternoon, and thank you for joining us for Kelleher and Holland’s final employment law lunch and learn series webinar of 2023. I am Amy Rizzo, Marketing Manager and webinar moderator. As promised last week, today’s special episode will take a deeper dive into one of our most popular topics: paid leave – […]
Businesses Must Act Now to Comply with CTA Reporting Requirements
The Corporate Transparency Act (CTA) will require most owners of LLCs or small corporations to report additional identifying information on the entity and it’s owners to the U.S. Department of the Treasury’s Financial Crimes Enforcement Network (FinCEN). Violations of the CTA and noncompliance with reporting requirements can result in hefty penalties, so it is important […]
Property Predicament: The Power of Eminent Domain
Eminent domain is the power of government to take private property for public use, even against the will of the owner, provided that it pays just compensation. If the government cannot reach an agreement with the owner as to a price to be paid, a lawsuit can be filed to have a jury decide on […]
Federal Estate Tax Exemption + Gift Tax Annual Exclusion Amount
As we head into the last quarter of the year, many people are thinking about making gifts and transfers to their family members and loved ones. It is important to start planning now based on the estimated decreases that are coming. Secure your family’s financial future by taking immediate action to update your estate plan, […]
K|H Quarterly Newsletter
Despite gloomy forecasts, we had lovely weather and a great turnout, with over 40 cars on display. Every year, 100% of show proceeds benefit a charity, and this year we raised more donations than in the history of our show! The charity chosen this year was Barrington Youth & Family Services, which provides a wide […]
WEBINAR: Illinois Paid Leave for All Workers Act
Transcript: Introduction Amy Rizzo: Today we are here to discuss some recent changes in Illinois law surrounding mandated paid leave for employees. On March 13, 2023, Illinois Governor J. B. Pritzker signed the Paid Leave for All Workers Act. Question 1: What is the purpose of the Act and what does it change? Madeline F. […]