Chicago Estate Planning Attorney — Asset Protection Benefits from Retirement Plans The tax benefits of 401(k)s and IRAs are well-known and widely used among Illinois residents planning a comprehensive estate plan. Furthermore, a well-manicured retirement plan is a great sign of financial security, … [Read more...] about Asset Protection Benefits from Retirement Plans
Are You Ready for the Next Recession?
Are You Ready for the Next Recession? Nobody wants to hear the word recession, but there are signs that the economy is slowing down. Job growth, factory production, retail sales and company profits are all down. If you haven’t started thinking about the next recession, you need to start soon. … [Read more...] about Are You Ready for the Next Recession?
Americans Grew More Generous In 2014
Giving the USA released its annual report on American philanthropy for 2014. Here are some of the highlights: 1. Total giving grew to $358.38 billion. It was up by about 7%. 2. Giving was up from all sources. Individual giving accounted for 72% of the total. 3. Bequests grew by 13.6%. It … [Read more...] about Americans Grew More Generous In 2014
Required Annual Filings for Non-Profits
We have found start-up organizations often don’t understand what reports are required annually. When an organization is up and running there are three very important filings required annually to keep the organization in good order with the state and the Internal Revenue Service. The first one … [Read more...] about Required Annual Filings for Non-Profits
Should you set up a subsidiary for part of your operations?
We are sometimes asked by a client if they should set up a subsidiary for some part of their operations. A subsidiary is usually necessary for 2 situations: First, the nonprofit is undertaking an activity where it seeks to reduce liability. Second, it wants to avoid the tax consequences of an … [Read more...] about Should you set up a subsidiary for part of your operations?
