On January 25, 2019, The Illinois Supreme Court ruled that violations of the Illinois Biometric Information Privacy Act (“BIPA”), the toughest privacy law in the nation, did not require actual damages to be shown by workers or customers, but that very serious damages were presumed where violations occur, up to $1,000/$5,000 per person per incident. Under the…
While performance reviews are a routine part of many job positions, they can be a sword or a shield in employment disputes. These documents can be valuable evidence in many types of employment claims, especially those involving allegations of wrongful termination. Performance reviews are intended to provide feedback and identify opportunities for growth. They can…
It’s not all doom and gloom after the Tax Cuts and Jobs Act of 2017, which curtails charitable deductions, eliminates personal exemptions and limits the deduction of local property taxes and state taxes. Taxpayers with IRAs who are over 70 ½ have an opportunity to gain a tax break this year, and their favorite charities…
David Lynam, the Chair of the Union League Club of Chicago Entrepreneur Group and the author of this blog, introduced the program. He spoke of the beginnings of cryptocurrency from an underground network of cyber counterculturists, to gaining a significant amount of popularity in the last decade. Cryptocurrencies operate on an anonymous, decentralized ledger which…
On Monday, October 29th at 5:30 pm the Union League Club of Chicago Entrepreneur Group will present: CRYPTO: How to Juice your Investments, Revolutionize Society, and Conquer the World! You have only 4 days left to sign up for this exciting event. Share with us the chance to experience the potential that Cryptocurrencies have to…
Please join the ULCC Entrepreneur Group on Monday, October 29th at 5:30pm for a crash course on cryptocurrencies and how they have the potential to change the future, as we continue our innovation series. Please note the change in location and time for this special event. It was only in 2009 that the first cryptocurrency…
At the August 27th 2018 meeting of the Union League Club Entrepreneur Group, we featured a program on the exciting new technology known as blockchain, which allowed attendees a glimpse at how future companies will interact with vendors and clients. The presentation, “Blockclain for your Business”, was lead by BusinessBlocks’s Managing Director, Tom Klein. Tom…
The Kansas City Fed has reported that the rate of residential construction has been contributing to the tight supply of existing homes listed for sale. New construction provides liquidity to local housing markets, where households are often both buyers and sellers. With fewer new homes from which to choose, many homeowners considering upgrading have instead chosen…
Equifax’s major data loss in 2017, where thieves stole sensitive information of more than 145 million people, is making taxpayers, the IRS, and CPAs worry. Tax authorities fear that Equifax’s stolen information may create havoc in 2018 as crooks race to use the stolen data to falsify returns. Fraudulent tax returns are typically filed early…
On July 4, 2017, the Illinois Senate voted to override Governor Bruce Rauner’s veto and passed a $36 billion budget package. With the override, the Illinois Senate effectively passed the package which amends the Illinois Income Tax Act and the Retailers’ Occupation Tax Act, resulting in a $5 billion tax increase. Here’s what Illinois businesses…