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…
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…
On July 1, 2017, new employment ordinances will take effect in Cook County and Chicago creating new sick leave requirements. If your business is located in Chicago, these new requirements will apply to your employees, and they will have a virtually unrestricted right to sick leave, one hour of leave for every 40 hours worked….
After a summer hiatus, our law blog returns for an announcement about a special event to be hosted by David J. Lynam and the Entrepreneur Group of the Union League Club. Please join us for “Angel Investing, What It Is, How it Works, and Recent Trends†on November 16 at 11:30 am. This event will…
Please join us for a special luncheon on Thursday, June 2, from 11:30 AM to 1:30 PM hosted by the Union League Club Entrepreneur Group, David Lynam, Chair, where Professor Craig Wortmann of the University of Chicago’s Booth School of Business will present a workshop based on his award winning course “Entrepreneurial Selling.” In this special ULCC Entrepreneur Group workshop, Professor Wortmann will lead discussions on applying selling skills in different contexts, acquiring and keeping…
The leadership of the Union League Club Entrepreneur Group was highlighted in the Winter 2015 edition of The State of the Union, the official magazine of the Union League Club of Chicago. The Entrepreneur Group is chaired by David Lynam of Lynam & Associates, and vice-chaired by Laurel Rundle, Partner at Aha! Marketing and CEO of All…