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You are here: Home / Archives for Business & Tax Planning

Spesia & Taylor and Attorney Brad McCann are Open for Business to Meet Your Trust, Estate, and Corporate Needs

May 18, 2020

All of us have been adjusting how we live our lives or how we conduct business in light of Covid-19. As Governor Pritzker makes changes to what is allowable in the foreseeable future, it will require us to remain fluid and flexible. For many, the “new normal” has been a slowing down, a reprioritizing, a time for reflection. For Spesia & Taylor attorney Brad McCann, the “new normal” has included implementing a protocol to allow his estate and ... Read More

Filed Under: Business & Tax Planning, Estates, Wills & Trusts, News & Cases Tagged With: Attorney, Brad McCann, Corporate Business Attorney, COVID-19, Estate, Governor Pritzker, Joliet, meeting protocols, Spesia & Taylor, Trust, Will County

President Trump’s Proposed Tax Reform Outline

September 18, 2017

By attorney: Bradley S. McCann President Trump has set forth an outline of some of his goals related to tax reform.  It will remain interesting to see if any of these specific reform items gain traction during the first year of his presidency.  President Trump has set forth an outline of some of his goals related to tax reform.  It will remain interesting to see if any of these specific reform items gain traction during the first year of his ... Read More

Filed Under: Business & Tax Planning, News & Cases

Utilizing Business Organizations for Valuation Discounts

November 12, 2015

Forming a limited partnership or limited liability company, which is established for valid business purposes, may provide significant transfer tax savings at death or during life, allowing the donor, during his or her life as a general partner, to retain control over the entity's assets. The main transfer tax (either gift tax during life or estate tax at death) benefit is the ability to apply a discount or adjustment to the ownership interests ... Read More

Filed Under: Business & Tax Planning

Income Tax Advantages of the Section 645 Election

November 9, 2015

Section 645 of the Internal Revenue Code provides for an irrevocable election to treat a qualified revocable trust as part of the decedent's estate for federal income tax purposes. If a Section 645 election is made by the executor of the estate and the trustee of a qualified revocable trust, several tax advantages that are available to an estate, become available to a trust; advantages that would not have been available to the trust if not for ... Read More

Filed Under: Business & Tax Planning

Business Organizations that are Tailor-Made for the Client

November 2, 2015

When starting up a business, one of the first decisions to be made by a business owner is how the business should be structured: sole proprietorship, partnership (with two or more owners), corporation (subchapter C or S), or limited liability company. In making the choice, certain factors need to be taken into account: current or potential size and nature of the business, level of control that the owner(s) desire, business’s risk, vulnerability ... Read More

Filed Under: Business & Tax Planning

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Featured News:

Spesia & Taylor Donates to the Spanish Community Center Food Pantry

Spesia & Taylor has stepped in to help the Spanish Center of Joliet with a donation to its food pantry. According to Veronica Gloria, Executive ... Read More

Spesia & Taylor and Attorney Brad McCann are Open for Business to Meet Your Trust, Estate, and Corporate Needs

All of us have been adjusting how we live our lives or how we conduct business in light of Covid-19. As Governor Pritzker makes changes to what is ... Read More

Witnesses In The Era Of Covid-19; Signing Important Documents During Social-Distancing

Executive Order From Governor Pritzker on Witnesses During Gubernatorial Disaster Proclamation On March 26, 2020, Governor Pritzker issued Executive ... Read More

The COVID-19 CARES Act; How It Effects Your Financials And 2020 Taxes

Summary Of Tax And Financial Factors Of The CARES Act The CARES (Coronavirus Aid, Relief, and Economic Security) Act was signed into law on March 27, ... Read More

COVID-19 Update – Spesia & Taylor is Open for Business

During these unprecedented times, Spesia & Taylor remains committed to providing legal services while protecting the health and safety not only of ... Read More

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