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Look Before You Leap: Demystifying Cross-Border Recoveries10/29/2017

Rick Rein Contributed to an article discussing Local jurisdictions and establishing a plan of action for achieving an international recovery of an asset.

Timing Is Everything – Reporting of Revenue Agents Reports08/14/2017

Nowhere in the state tax world is that statement more important than complying with the state filing requirements for reporting changes to federal taxable income.

Sins of the States: Local Government’s Search for Revenue, State Tax Notes, July 17, 201708/14/2017

The focus of the SALT community’s discussion generally has been on the states’ search for revenue and the creation of new revenue sources. What has been overlooked in that discussion, however, is the revenue needs of cities, counties, and other local governmental bodies.

Telecoms Face Tough Tax Questions Surrounding Realty Versus Personality Classifications07/21/2017

David’s article explores the ramifications of treating something as tangible personal or real property for sales/use and property tax purposes, specific to the telecommunication industry.

Key Issues for Collectors: Buyer Beware06/05/2017

Recent cases have brought to the forefront issues regarding the risks of purchasing art.

30 Things I’ve Learned After 30 Years as an Estate Planner05/29/2017

The ABA published this article in one of their journals and it expresses my views of what makes a satisfying client relationship, as well as a satisfying relationship with partners, referral sources, and the legal practice generally.

Marilyn Wethekam Published in State Tax Notes “How Would Federal Tax Reform Affect States?”05/01/2017

There are a number of federal tax reform proposals currently being discussed. The question is what impact these proposals will have on state taxes. Will the reforms result in a state windfall or a revenue loss? What are the administrative complexities that must be addressed? …

HMB’s John Wiktor and Christin Handa are Published in Family Foundation Advisor’s Jan/Feb 2017 Issue02/01/2017

Family Foundation Advisor is a publication of the Civic Research Institute, offering guidance for effective foundation management, development and grant-making. Family Foundation Advisor is devoted exclusively to helping family foundation administrators and their professional advisors. In How to Connect With the Next Generation of Philanthropists, John and Christin discuss the changing landscape of philanthropy with respect to millennials joining the…

The Challenges of Leasing Mobile Property01/12/2017

David Machemer provides an overview of some of the technical tax issues that may be encountered when leasing vehicles used to transport persons or property in interstate commerce. Click here to read the full article…

IL Shipping and Handling Regs Part 130.410 and 130.415 Second Notice01/22/2016

SECOND NOTICE OF PROPOSED RULEMAKING 1)         Agency:  Illinois Department of Revenue 2)         Title and Ill. Adm. Code Citation of Proposed Rulemaking:  Retailers' Occupation Tax, 86 Ill. Adm. Code 130.410, 130.415 3)         Date, Issue, and page number of the Illinois Register in which the First Notice was published:  August 25, 2015, Issue 35, 39 Ill. Reg. 11865. 4)         Text and Location of any Changes Made…

Illinois Appellate Court Holds Entities Must Be Represented By an Attorney At Administrative Hearings04/25/2014

Illinois Appellate Court Holds Entities Must Be Represented By an Attorney At Administrative Hearings A recent decision by the Illinois Appellate Court held that corporations may not represent themselves at administrative hearings, but instead must be represented by an attorney. In Stone Street Partners, LLC v. The City of Chicago Department of Administrative Hearings, Case No. 12 M1 450026, Stone…

Commercial Lending and Equity Deal Terms for Middle Market Businesses, Spring 201403/05/2014

Spring 2014 The winter months were unusually cool in late 2013 and early 2014, and most middle market borrowers and lenders will likely concede that lending activity during those months was equally cool.  The optimism for robust deal flow in 2013 never materialized into actual results, even though most middle market lenders remained quite optimistic until the bitter end.  Spring,…

Commercial Lending and Equity Deal Terms for Middle Market Businesses, Fall 201310/14/2013

FALL 2013 Although the first half of 2013 was marred by stagnant activity within the middle market lending environment, senior lenders across the middle market seem quite optimistic about finishing the year with a bang.  While it is difficult for senior lenders to pinpoint the exact cause for their optimism, the recurring talking point has been that these senior lenders…

Mortgage Foreclosure Alert – Alternative Means to Sell Property Under Illinois Mortgage Foreclosure Act03/28/2013

For many foreclosure sales, the typical sale process - selling the property at a court-ordered auction - is sufficient.  The result of most such sales is the bank "credit bidding" against its debt.  In certain cases, however, a traditional judicial auction may not be appropriate.  For example, the bank may not want to take title to the property or the…

Why and When a Sweetheart Will (or No Will at All) is Not Enough08/31/2012

Why and When a Sweetheart Will (or No Will at All) is Not Enough Young couples at the stage where they are having children and purchasing their first home may not realize that they need estate planning.   The assets a couple is likely to acquire in the early stages of building wealth, such as a home, retirement accounts and life…

Investment Banker Customary Fees06/14/2010

In our previous two articles we walked you through the reasons to hire an investment banker for the sale of your middle market business (i.e. transaction valued between $25 million and $250 million) as well as typical terms for how the relationship will work. Now your attention turns to fees. Our experience is that terms vary among investment banking firms…

Investment Banking Customary Terms04/14/2010

In the first of our three part series we walked you through the process of deciding whether to hire an investment banker for your middle market business (i.e. transaction valued between $25 million and $250 million). So now that you have decided to sell your business, we will discuss customary investment banking terms in this article and will wrap up…

In Support of the Investment Banker12/14/2009

So why do business owners want to hate investment bankers? Too often, it is based on cocktail party chatter. Have you ever heard, "the investment bankers added no value to the process? I already knew the buyer. We were competitors for years." Or, "the investment bankers wrote a nice book, but at the end of the day my lawyer and…

Lessons That Planners Can Learn From Celebrity Estate Battles10/01/2008

Author: JASON S. ORNDUFF AND LAUREN J. WOLVEN, ATTORNEYS JASON S. ORNDUFF is a partner in the Private Client practice group at the law firm of Thompson Coburn Fagel Haber in Chicago. His practice focuses on the legal aspects of wealth transfer to the next generation, including estate planning, estate and trust administration, and transfer taxes. LAUREN J. WOLVEN is…

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