Author: Rock Fusco Connelly LLC
New Law Allows NCAA Athletes in Illinois to Be Paid
The Student-Athlete Endorsement Rights Act allows students to be compensated, not directly by their schools, but by endorsements and marketing campaigns. Under the new law, college athletes will be able to hire agents and negotiate deals to profit off their name and likeness. Illinois is leading the nation in modernizing the collegiate sports system and
Wage Payment & Collection Act: Increased Penalties for Violations
Gov. Pritzker recently signed a bill into law, which makes employers liable for unpaid wages, final compensation, and 5% of the damages of underpayment per month. This differs from the previous 2% penalty of damages for underpayment under the Illinois Wage Payment & Collection Act (“IWPCA”). The IWPCA covers private employers as well as local
Illinois Law 2021 Updates: Attention Employer
A Flurry of Changes to Employment Law With the pandemic increasingly in the rear-view mirror, 2021 stands to be a blockbuster year for changes to employment law. Many of these laws aim to rectify perceived imbalances between workers and their employers. In this edition of the Rock Fusco & Connelly, LLC newsletter, we will explore
Property Tax Appeals Update
Our real estate tax team at Rock Fusco & Connelly, LLC continues to work hard fighting to keep your property tax bills as low as possible. As the 2021 appeal session progresses, we wanted to give you an update on the conclusion of the 2020 session, what to expect in 2021, and key dates to
Using Mergers and Acquisitions to Grow Your Company’s Value
This is the second installment in a three-part series Rock Fusco & Connelly, LLC will be publishing on using M&A transactions to maximize and grow your company’s value. In part one, we helped you understand EBITDA, and how to increase EBITDA and its multiplier. In today’s edition, we will address how to compare rates of
Senate Joint Resolution Constitutional Amendment 11 (“SJRCA 11”)
On May 26, 2021 the Illinois Senate announced that Senate Joint Resolution Constitutional Amendment 11 (“SJRCA 11”) had been adopted by both houses of the Illinois General Assembly. SJRCA 11 would permanently enshrine in the Illinois Constitution unprecedented power of government unions. Already the Illinois labor market performance has been lagging behind the rest of
Supreme Court Upholds Affordable Care Act
The Supreme Court once again upheld the Affordable Care Act, providing another lifeline to President Obama’s landmark legislation. This is the third Supreme Court opinion upholding the law. The case, California v. Texas, was brought by the state of Texas, and joined by nineteen other states, to challenge the constitutionality of the individual mandate, a
Preparing for a Visit from OSHA
Companies should be aware of the planning, documents, receiving, process, and follow-up involved with an OSHA visit. There are several reasons why companies receive an OSHA visit. Typical reasons include an on-the-job fatality or serious accident, a complaint made by an employee, a referral from an outside source, or a follow-up. Planning Companies should plan
Biden Tax Plan 101 – Understand the changes you need to know, in minutes
Written by Rock Fusco & Connelly’s trusted advisors at Dugan & Lopatka CPAs A new administration almost always means changes to the tax code, and President Biden is no exception. President Biden’s ambitious new tax plan proposes numerous changes across the board— for individuals, businesses, nonprofits, and entire industries. Some of these changes will almost
Using Mergers and Acquisitions to Grow Your Company’s Value
This is the first installment in a three-part series Rock Fusco & Connelly, LLC will be publishing on using M&A transactions to maximize and grow your company’s value. This first part will help you understand a simplified valuation methodology (earnings before interest, taxes, depreciation, and amortization (or, “EBITDA”)), and how to increase EBITDA and its