This year, and only this year, Cook County residents get a one-month extension on their property tax bills: the first installment 2010 property tax bills have an extended due date of April 1, 2011, one month later than the usual March 1 due date. The first installment bills are estimated at 55-percent of last year’s…

You may already have established an estate plan, but the new year has brought very significant changes in the law as it applies to estate planning. We are informing you of how these changes may affect your current estate plan and what steps you may need to take to ensure your plan will still provide…

The National Labor Relations Board (NLRB) proposed a rule last week that virtually all employers of any size be required to post notice informing workers of their rights to organize labor unions, to strike, and to do so without punishment by their employers. The notices also instruct employees on how to file NLRB complaints against…

This has been a strange year for property tax in Cook County, Illinois, and it looks like next year will be even stranger. Cook County has just mailed out the second installment 2009 tax bills, which are due on December 13. For the 2010 tax year, so many changes are in the works, especially for…

As election day approaches, your employees may be asking for time off to vote. No federal law mandates that you give employees time off (although federal law does prohibit interference with any aspect of the voting process, such as voting, campaigning, or working as a poll watcher or election judge). However, an Illinois law does…

With the tightening of budgets it may be difficult to find ways to reward and retain your employees. What if you could provide a group legal service to give those employees an additional benefit, at no additional cost? Lynam & Associates has joined with the Homeowners Club of America (HCA) to offer you, our clients,…

The American Recovery and Reinvestment Act has created an exceptional opportunity for not-for-profits and the banks loaning to them. This is tax-exempt financing that also provides the not-for-profit with much more favorable interest rates and terms than those currently available in the marketplace. Working through an Illinois state agency, the banks loaning to 501(c)(3) applicants…

Small business owners can still shelter a significant portion of their income from taxes through use of a Sub S Corporation tax break, but this option may not last forever. Recently, the Senate refused to budge and allow the death of the substantial tax break currently given to S Corporations that allows business owners to…

During 2010, the Cook County Assessor will reassess all property located in the Chicago Northern suburbs.  Assessment notices will be mailed one township at a time beginning in June and continuing through late fall.  Unless contested, the proposed assessments will determine a property owners’ tax obligation for the next three years. It is well known…