While term limits for not-for-profit boards of directors are not legally mandated, many organizations consider term limits to be a best practice.

If you own a restaurant, bar or other business that serves food or beverages, do not overlook the FICA tip credit. This credit provides some relief for the federal...

On April 9, 2020, the IRS issued Notice 2020-23, which postponed due dates with respect to Federal tax returns and payments, and certain time-sensitive actions. This Client Alert addresses how this notice applies...

On November 5, Mayor Lightfoot announced several initiatives designed to help Chicago restaurants and bars — and their workers — that have been hit hard by closures, reduced capacity...

On Wednesday, March 25, 2020, Governor Pritzker announced several new emergency assistance programs...

On the morning of May 13, 2020, the Small Business Administration (SBA) clarified how it will review a borrower's good faith certification concerning the necessity...

This issue's "Newsbits" highlihts a study showing digital revenue on the rise, some new positions that might emerge at not-for-profits and a report that sheds some light on employee retention.

Foundation Center and GuideStar join forces The Foundation Center, which maintains the most comprehensive database on foundations and their grantmaking, is teaming up with GuideStar, an online database of about 2.7 million not-for-profits.

Tariffs on imported materials, such as steel and aluminum, are increasing costs for many manufacturers. Here are six ways to help evaluate and manage the effects on your business.

As a way of encouraging long-term employment, employee benefit plans often provide a combination of vested and non-vested assets.

The Coronavirus Aid, Relief, and Economic Security (CARES) Act provides financial relief for those who have been negatively affected by the COVID-19 pandemic.

Determining how much of your retirement nest egg to withdraw each year can be stressful. You want to take out enough to maintain a comfortable lifestyle ...

Many employers mistakenly believe that the misclassification of employees as independent contractors does not really matter, so long as contractors satisfy all of their tax obligations.

Last year, the Harris Poll conducted a survey about investing for the American Institute of Certified Public Accountants (AICPA)-with sobering results.

You cannot control costs if you do not know what they are.

People treating health care like a retail business defines consumerism in health care.

Based on the disaster declaration issued by the Federal Emergency Management Agency (FEMA) for the severe storms and flooding that occurred in parts of Illinois (DR-4728-IL)...

More than $120 billion of our nation's income flows through trusts, and the Supreme Court will hear a case that may clarify how much states are able to tax.

In response to buyer and tenant expectations to be competitive in the market, many owners and developers are regularly incorporating smart technologies in their projects.

Most college packing lists do not include an estate plan; however, a few basic documents can give you peace of mind as your son or daughter heads off to college.