Choosing a structure is a vital step when starting a business. In many instances, choosing the wrong entity type can mean incurring additional tax and legal liabilities. In addition, you could be faced with dealing with a series of ineffective operations which can have devastating effects. Before … [Read more...] about Why You Should Never Choose a Business Structure Without Talking to a Chicago Business Lawyer
Whether you just started a nonprofit or are working with a few others to get one started, you may have considered incorporating. It requires some paperwork and can be a bit complicated, but for many nonprofits, it is well worth the effort. If you are unsure whether incorporating is best for your … [Read more...] about Why Should a Chicago Nonprofit Incorporate?
One of the first responsibilities of newly appointed directors is to create and document bylaws for the organization. Typically, this is completed at the first official meeting of the board. Bylaws are needed early on since they provide the structure for the nonprofit organization’s general … [Read more...] about Establishing Bylaws for a Nonprofit
Many people assume that all non-profit organizations operate in a federal tax-free environment. After all, that is the entire point of section 501(c)(3) of the Internal Revenue Code. But, it isn’t always the case that all money made by non-profits is tax-free; so that they can raise additional … [Read more...] about What are Some Examples of Unrelated Business Income?
It can be easy to forget when you look at the news, but there is a lot of good being done in the world—and in Illinois in particular. Much of the hard work of making good things happen is being done by non-profit organizations, big and small. These groups focused on the welfare of others and … [Read more...] about Law Guide for Employment Issues in Illinois Nonprofits