02.29.12

Pass Through to Greater Tax Savings

An initial challenge facing a real estate investor or developer is deciding which type of entity will best meet his/her objectives. While there are numerous entity types available, two “pass-through” entities – an S corporation and an LLC – are popular choices. Although both are “pass-through” entities for tax purposes, there are significant differences that can strongly favor one type over the other.

02.27.12

Order Up! – The Special with a Side of Fraud

Restaurants have been victimized by their servers for almost as long as restaurants have been in existence. Many servers take advantage of the industry’s historically high turnover rate to commit their scams at each new place of employment. Unfortunately, background checks rarely result in uncovering a potential new server’s fraudulent activities since restaurants rarely make this information public.

02.08.12

Splitting Costs- CAM Charges

Most businesses are affected by leases in one way or another, either as a tenant or as a landlord. Lease documents can be long and difficult to read, but paying attention to the small print could make your wallet larger particularly related to common area maintenance charges (CAM).

02.05.12

How to Pitch Angel Investors

Chris Arndt is a partner in Red Granite, a Chicago-based firm that advises high-net-worth individuals and families—a roster of clients that includes several angel investors. From his unique advisory position, Arndt says he knows what entrepreneurs should be thinking about as they go about trying to get an angel on their side. What follows, then, are his tips to do just that.

01.23.12

One + One ≠ Two? The Sum of the Parts Does Not Always Equal the Whole

Under current estate and gift tax rules, every taxpayer has the ability to give away $5 million of property during lifetime or at death. With the Bush administration tax cuts set to sunset at the end of 2012, the $5 million exemption could be reduced to as low as $1 million. Thus, any method of maximizing current gifts could prove to be very beneficial.

01.20.12

The Power of Volunteering Outside of Your Comfort Zone
Carla Denison-Bickett

Whether sitting on a finance committee, completing work pro bono, or getting involved with issues close to home, when it comes to volunteering, we often stick with what we know. While we offer our talents to others, there is an untapped power in volunteering outside of your comfort zone.

01.16.12

Keep an Eye on your Numbers

In the restaurant industry, the ability to effectively improve the management of food and labor costs (a.k.a. prime costs) is a huge key to maintaining that profitability. Even with lower sales revenues, the improvement in the management of prime costs could actually result in an increase in the bottom line.

01.13.12

BINGO! What now?
Jeffrey Chiles

In the current state of the economy, organizations are trying new and unique ways such as holding gaming activities including bingo, raffles, or card games either as stand-alone activities or as part of larger special events to draw in contributors. Gaming activities, however, come with a number of specific rules surrounding filing and withholding requirements that organizations need to be aware of prior to hosting these events.

01.11.12

Protest Now or Pay More Later
Richard Lang

The time for protest is ripe. Each year the Cook County Assessor reassesses one-third of the nearly 1.8 million parcels in Cook County. Starting in January, 2012, the Assessor will reassess all properties located within the boundaries of the City of Chicago with taxes payable in 2013.

01.06.12

Heavyweights Including Pritzker, Mansueto Launch Tech Investment Fund

We get excited whenever we see more tech investing in Chicago. This fund’s investment in a start-up will serve as an immediate credibility booster for that startup. Family offices and other potential investors would be wise to make follow-on investments in the start-ups that are backed by this fund of experts. Read article: “Heavyweights Including […]