Posted on July 28, 2017 in Business Law

If you have a small business in Oakbrook Terrace or elsewhere in DuPage County, or if you are considering starting a small business, it is important to consider having general counsel for your company. You might be thinking: if I simply have a small business with only a couple of employees, do I actually need general counsel?

As an article in the Boston Globe explains, small business—of all sizes and types—regularly encounter legal issues that require the assistance of counsel. When you are trying to run a business, attempting to tackle some of these legal matters on your own can be frustrating and complicated, and in some cases seemingly impossible.

What Kind of Business Should I Form?

One of the initial reasons to work with general counsel as you develop your small business concerns making a decision about the type of business you want to develop. A fact sheet from the U.S. Small Business Administration explains that there are numerous business structures from which a person (or group of persons) in DuPage County can choose.

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 Posted on July 14, 2017 in Estate Planning

Do you have a last will and testament? Hajj 2017 begins the evening of Wednesday, August 30 and ends the evening of Monday, September 4. Each year, millions of Muslims from around the world participate in the five-day Hajj pilgrimage. Indeed, as an article in the Independent suggests, about two million Muslims are likely to participate in the pilgrimage this year to Mecca. Given that Hajj is one of the five pillars of Islam, all Muslims who are able to make the pilgrimage are required to do so at least once.

Since the pilgrimage comes with physical challenges and requires travel to Saudi Arabia, it is important to have your affairs in order before going to Hajj. As such, if you are planning on going for Hajj, you should speak with a Muslim trusts and estates lawyer in DuPage County today to get started on this process.

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 Posted on June 28, 2017 in Business Law

If you have a small business in DuPage County or are considering starting your own business, why do you need to have a lawyer? A DuPage County business law attorney can consult on a wide variety of issues that your small business might face. While there are many aspects of running a small business that you may be able to handle on your own, it is important to have experienced counsel who can guide you through the issues you are likely to face as a small business owner.

Why Do I Need to Work with a Small Business Lawyer?

There are many aspects of running a small business that you can handle on your own. For instance, choosing a name for your business and even developing a business plan may be relatively easy for you to manage, especially if you have experience in business. However, there are many issues for which it is important to be able to consult with a DuPage County business law attorney. At Farooqi & Husain Law Office, we regularly consult with small business owners on some of the following issues:

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 Posted on June 17, 2017 in Business Law

Is your small business healthy when it comes to legal risks and vulnerabilities? It can be exciting to start a small business in Oakbrook Terrace and to begin the process of structuring your business and hiring employees, but many legal complications can arise. When most small business owners hear the term “audit,” they think of a tax audit or an accounting audit. Legal audits are very different. Legal audits refer to a small business owner hiring a DuPage County business law attorney who can review the operations of your business to determine whether you are likely to encounter any legal problems.

When you run a small business, there are already many complicating matters that arise on a daily or weekly basis concerning your company. You should not have the extra anxiety of worrying about whether your business is at risk of a legal issue. A business lawyer in Oakbrook Terrace with experience assisting Muslim small business owners can speak with you today.

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 Posted on May 31, 2017 in Business Law

Do you have a business in DuPage County and are considering entering into a strategic partnership? Or are you thinking about forming a startup company in the Oakbrook Terrace area and wondering how you can have a mutually beneficial relationship with another small business or company? Strategic partnerships are agreements between two companies that are not in competition with one another, and they are agreements that benefit both companies. If you are looking to grow your company, strategic partnerships can help in a number of ways — from issues surrounding marketing to supply chains to technology.

Strategic partnerships are one way that you can expand, and it is important to learn more about strategic partnerships and, ultimately, how you should structure the deal.

Small Businesses and Strategic Partnership Agreements

The way you structure your strategic partnership agreement will depend upon the type of business you operate, and the way in which you want to expand your company. One of the more common types of strategic partnership agreements are marketing partnerships. Strategic marketing partnerships are especially useful for smaller businesses that offer a limited number of products and/or services. By partnering with a marketing company, you can work with a company that will refer others to your products and services, while the marketing company will also gain sales for your services or product by developing company-specific marketing techniques. The two companies, then, can share in the profits. In strategic marketing partnerships, it is important to work with a company that can market your products either to a shared customer based, or to a new set of consumers.

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 Posted on May 17, 2017 in Employment Law

If you are starting a small business in DuPage County or are thinking about expanding your current business to include employees beyond yourself, you are likely to have many questions about the steps you need to take in order to hire new employees. For instance, what kind of information do you need to obtain from the Internal Revenue Service (IRS) before you can hire new employees? What information will you need to obtain from your new employees in order to hire them legally and to withhold federal income taxes from their paychecks? What kinds of information are you required by law to provide to new employees?

At Farooqi & Husain Law Office, we are committed to helping members of the Muslim community in DuPage County create and expand their small businesses, and a DuPage County business law attorney at our firm can answer all of your questions about hiring new employees. In the meantime, the U.S. Small Business Administration (SBA) provides helpful tips for creating a checklist for any small business owner who is planning to hire new employees.

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 Posted on April 29, 2017 in Business Law

Do you have a business in DuPage County? Do you work with an off-site bookkeeping service? Many Muslim small business owners in Oakbrook Terrace and nearby communities want to ensure the success and profitability of their businesses, and hiring an off-site bookkeeping service is an effective way to save on your taxes, have cleaner books, and ultimately to assess how the business is doing.

At Farooqi & Husain Law Office, our dedicated DuPage County business lawyers have years of experience assisting members of the Muslim community and helping our clients to maintain strong businesses. If you have questions about why you should hire an off-site bookkeeping service, an experienced DuPage County business lawyer can speak with you today.

Dealing with Complicated Business Issues

For many small business owners in DuPage County, their companies likely have numerous complicated business issues to an extent that they do not realize. As an article in Entrepreneur explains, business owners “who hire accounting help usually discover they weren’t doing nearly as well on their own as they thought they were.” To be sure, in the early stages of a business, many business owners attempt to keep their own books and in some cases to handle their own taxes. What many business owners do not realize is that they can benefit immensely from working with an off-site professional.

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 Posted on April 14, 2017 in Business Law

When you have a small business in Oakbrook Terrace, it is extremely important to have an accountant and a lawyer on your side. While an accountant can sometimes answer questions that might seem relevant for your attorney and vice versa, both accountants and lawyers can help with specific tasks related to the finances and day-to-day running of your business.

For many members of the Muslim community in DuPage County who form small businesses, you should understand the importance of working with an accountant and a business law attorney. At Farooqi & Husain Law Office, we have been serving Muslim clients in Oakbrook Terrace for years and can provide you with some helpful information to get you started.

Choosing a Small Business Structure

One of the first steps of starting a small business likely will require the expertise of both an accountant and a lawyer. Your accountant can help you to think through various tax implications of your business structure, for instance, while your attorney can help you to consider various legal issues that may arise in each type of business structure. Examples of business structures include the following:

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 Posted on March 22, 2017 in Illinois Family Law

Are you considering adoption in DuPage County? Adoptions can be extremely complicated, and as such, it is important to speak with an experienced DuPage County family law attorney. Yet just because adoption is complicated does not mean that this is not a valuable route to pursue. Indeed, according to a fact sheet from the Illinois Department of Children and Family Services (DCFS), more than 15,000 children have been adopted in Illinois in the last decade, allowing those children to have a permanent home while also providing the adoptive parents with the same rights and responsibilities as biological parents.

What are some common issues surrounding adoption in Illinois with which you should familiarize yourself?

Who Can Adopt a Child in Illinois?

Adoptions in DuPage County are governed by the Illinois Adoption Act (750 ILCS 50/). Under this statute, a person may be eligible to adopt a child if they meet the following requirements:

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 Posted on March 08, 2017 in Estate Planning

When you are considering whether you need to make a will, it is important to think carefully about your assets and where you want them to go when you are no longer living. For most members of the Muslim community in DuPage County, it is extremely important to make a will. If you do not have a will at the time of death, then your assets will be distributed according to Illinois intestacy laws.

These laws are complicated, and they can prevent your assets from being distributed according to your wishes. While many people assume they only need to make a will if they have real property, any assets at all can be subject to Illinois intestacy laws at the time of death. By making a will, however, you can ensure that your property goes to the parties to whom you planned to leave it—whether it is your children or a neighborhood nonprofit foundation.

Do You Have Intended Beneficiaries Who Are Not Close Family Members?

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