Month: October 2024

Captive Meetings: Illinois has enacted law that takes effect January 1, 2025, prohibiting employers from conducting so-called “captive meetings,” where they speak on political or religious topics and require the attendance of the employee. The law does not restrict the speech of employers in any way or prevent them from holding meetings to speak on […]

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Real estate transactions come with numerous tax implications that can significantly impact the financial outcomes for buyers and sellers. Understanding these tax considerations is crucial for making informed decisions and optimizing the financial benefits of real estate investments. Capital Gains Tax:  One of the most significant tax implications in real estate transactions is the capital […]

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Estate and trust administration is a multifaceted process that requires careful navigation to ensure that a decedent’s wishes are honored and assets are distributed appropriately. This article aims to demystify the process and provide a roadmap for those tasked with managing an estate or trust. Understanding Probate:  Probate is the legal process of validating a […]

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Freelance Worker Protection Act: As of July 1, 2024, freelance workers, defined as anyone hired as an independent contractor, except for construction, generally must be paid for their services within 30 days of the completion of the services, unless a written agreement specifies otherwise.  The Act applies where services with a total value of at […]

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The Department of the Treasury and the Internal Revenue Service (IRS) have released final regulations regarding required minimum distributions (RMDs) from inherited IRAs under the SECURE Act. According to the SECURE Act, all assets in an inherited IRA must be fully withdrawn by the end of the 10th year following the death of the IRA […]

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