FLSA’S “REGULAR RATE” WILL CHANGE SOON

The U.S. Department of Labor (“DOL”) recently offered hope to many employers that are seeking clarity regarding compliance with the Fair Labor Standards Act’s (“FLSA”) overtime calculation rules. The FLSA generally requires employers to pay employees overtime pay of at least one and one-half times their regular rate for hours worked in excess of 40 […]

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Best Practices of a Board of Directors

A Board of Directors is elected to represent the shareholders of a company and, thus, is expected to lead by example. The importance of having ethical directors cannot be overstated.  The most forward-thinking companies consistently practice sound governance and understand its legal responsibilities. Directors should at all times act faithfully, and with diligence and care […]

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Investing in a Qualified Opportunity Zone

In 2017, the Tax Cuts and Jobs Act established a Qualified Opportunity Zone program that provides tax incentive for investing your money in an “economically stressed community.” All 50 states have certified zones and investing in these areas provide the opportunity to defer and potentially reduce the taxes you pay on recognized capital gains. This […]

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Impact of Illinois Legalization of Recreational Marijuana Use on Business Policies

Governor Pritzker has recently announced that he’s reached an agreement with key lawmakers on a plan to legalize recreational marijuana in Illinois starting next year. This legislation would allow adults 21 and older to legally buy cannabis for recreational use from licensed dispensaries. Illinois residents could possess up to an ounce (30 grams) of marijuana, […]

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Recent Legislation Could Subject Employers to Civil Liability for Latent Work-Related Injuries

Illinois lawmakers have once again attempted to address the perceived injustices associated with long-standing statues of repose that bar claims of asbestos-related diseases diagnosed many years after a plaintiff was exposed during their employment.  Senate Bill 1596, which has now passed both chambers of the Illinois General Assembly, amends the Illinois Workers’ Compensation and Occupational […]

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Protecting Your Business in a Divorce

Although no couple enters marriage with the belief that their relationship will end in divorce, unfortunately some relationships break down, and individuals may enter into months or even years of expensive litigation over divorce proceedings. Business owners face particular challenges, as the assets, ownership and interest in your business may be at risk. Any lawyer […]

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Predictable Scheduling Law Seeks to Impose Regulations on Unpredictable Work Hours

A Chicago-based ordinance seeks to limit unpredictability in employees’ work schedules by enforcing scheduling-related regulations on larger businesses. The proposal would require employers to inform employees of their schedules at least two weeks in advance, and would require compensation for last-minute schedule changes, by providing for an hour of “predictability pay” at their regular wage […]

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No Right-To-Work Laws by Local Governments

This April, Illinois Governor J.B. Pritzker signed a bill that prevents local governments from enacting laws that weaken the power of labor unions, also referred to as “right-to-work” laws. The bill is known as the Collective Bargaining Freedom Act (“CBFA”), which Pritzker stated was designed to prevent right-to-work laws from cutting employee benefits, lowering wages, […]

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Succession Planning for Business Owners

While running the day-to-day operations of a company can be time consuming, it is important for business owners to take the time to assess the organization’s future as well.  Succession planning is essential for the continuity of a business for when an owner or key employee retires, becomes disabled, passes away or simply leaves the […]

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Discrimination Bill Would Affect Small Businesses

House Bill 252 is a recent attempt to expand the Illinois Human Rights Act to encompass employees that work at small business with less than 15 employees.  Currently, small business employees do not have any course of action against employers for discrimination based on gender, sexual orientation, religion, and age, although these employees can bring […]

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