William A. Price, Attorney at Law
Introduction: Two new BIPA Cases Two Illinois Supreme Court decisions recently released, Tims v. Black Horse Carriers, Inc., 2023 IL 127801 and Cothron v. White Castle Sys., Inc., 2023 IL 128004, have clarified the statute of limitations and the actionable number of violations for suits under the Illinois Biometric Information Privacy Act, 740 ILCS 14/1…
If you think your customers will enjoy humor, offer them extreme termination of friendly puppets, like “Mr. Bill”, or Jim Henson’s take on coffee commercials, for Wilkins Coffee: https://www.youtube.com/watch?v=HVewx3-9×24
You are eligible to receive a government bailout! Under “INCREASED ELIGIBILITY FOR CERTAIN SMALL BUSINESSES AND ORGANIZATIONS,” the Paycheck Protection Program (PPP) explicitly notes that nonprofit organizations meeting the size limitation of “less than 500 employees.” Despite being called loans, the PPP actually provides free money, 100% backed by the federal government: as long as…
You are eligible to receive a government bailout! Fellow indies, whether you are self-employed, independent contractors, or sole proprietors: this could be your salvation. The CARES act, passed into law as H.R.748, specifically makes the new paycheck protection loans available for “eligible self-employed individuals,” meaning anyone who works in a trade or business and who…
You Could Lose Your Federal Income Tax Exemption: Corporate or trust income tax at the highest rate (21% for corporations, 35% for trusts, in 2019)[i] applies if a nonprofit entity fails to qualify, engages in prohibited transactions, or stops operations that are exempt from taxation.[ii] 378 entity 501(c)(3) exemptions are listed by the IRS as…
The General Assembly repealed the 1/10 of 1% capital assets of business corporations franchise tax, and the Governor has signed the repeal, P.A. 101-0009. The tax disappears for amounts due below $30 in 2020, below $1,000 in 2021, $10,000 in 2022, $100,000 in 2023, and all amounts in 2024. The tax comes back in 2026…
When Roman tenants stumbled back into the lobby of their apartment buildings after a night of drinking, they probably threw a few coins into a clay pot by the stairway. If they died of drink (or the lead lined pipes, or the diseases that city life still features), the coins in the pot would pay…
The Illinois State Bar Association just posted a video with me talking about the documents you need to negotiate in the course of buying or selling a business, from the initial nondisclosure/noncircumvent that allows buyers and sellers to exchange confidential information to the term sheet which outlines their deal to the final sales contract (with…
Just posted a video to Youtube on what could happen if you die before a business deal like the sale of your business closes, with suggestions for how to document who has authority to act for your business or estate if something happens.
Many Americans own a side business, or make most of their money from a company they help run. Very few of them get the money they deserve after building the business, because they either leave feet first in a health emergency, or fail to sell the place on terms that let them keep busy, get…