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Do I Need Multiple Successor Trustees?

September 14, 2022

How Many Successor Trustees Should I have? When planning a revocable living trust many people name a family member as their successor trustee. The successor trustee is the person who will take over all the administration of your trust if you become incapacitated or die. A common candidate is their spouse or oldest child. Is… Read more »

Does Your Trust Need a Facelift? You Need Periodic Estate Plan Reviews.

September 14, 2022

Periodic Estate Plan Reviews are Important. How old is your trust? If there have been a few presidents since you made your trust, it might be time to put it under a microscope and tighten it up. This is not a scheme for estate planning lawyers to bill you. Everyone should periodically review their estate… Read more »

Don’t Be Fooled! How to Avoid IRS Scams

September 14, 2022

Avoid IRS Scams By Understanding How They Would Actually Contact a Taxpayer With continuing phone and in-person scams taking place across the country, we want to share information about how the IRS would contact you, so you know it’s really them. Review these scenarios to avoid IRS scams. In most instances, the IRS sends a… Read more »

Snowbird Estate Planning-Where to Start?

September 14, 2022

Thinking of Wintering Somewhere Warm? Don’t Forget Snowbird Estate Planning Many people planning for retirement dream of having the title “Snowbird.” This is the practice of dividing your year between two or more places you love-somewhere warm in the summer and a different one that is warm in the winter. Snowbirds can enjoy gorgeous northern… Read more »

Updates to the Illinois Secure Choice: Retirement Savings Program Calls for Compliance

September 14, 2022

Illinois Updates Retirement Savings Program Chances are If you’re a small business owner in Illinois, you may have recently received a letter from the State Treasurer’s Office or heard about Illinois Secure Choice in the news.  Established in 2015, the program has made some changes which have gone into effect recently. Most importantly, the program… Read more »

IRS Announces Penalty Relief

August 25, 2022

Penalty Relief Now Offered By IRS for Late Filers The Internal Revenue Service announced it is providing penalty relief to most individual and business taxpayers who filed their 2019 or 2020 returns late due to the COVID pandemic, while refunding $1.2 billion in penalties to nearly 1.6 million taxpayers who filed late. They issued Notice… Read more »

Difference Between C Corp and S Corp

August 19, 2022

Learn the Difference Between a C Corp and S Corp According to business law firm in Des Plaines, there are two main types of business structures: the C corp and S corp. Both have unique benefits and drawbacks. So how do you know which is right for your business? This article will discuss the differences… Read more »

The Basics About Copyright Infringement

August 12, 2022

What You Need to Know About Copyright Infringement The copyright law of the United States has a long and complicated history, dating back to colonial times. It was established as federal law with the Copyright Act of 1790. This act was updated many times, including a major revision in 1976. Over 150 years ago, Thomas… Read more »

Is Build Back Better Born Again?

August 03, 2022

Looking at Build Back Better – Part 2 In a surprise to most everyone, Senate Majority Leader Chuck Schumer, D-N.Y., and Sen. Joe Manchin, D-West Virginia, announced the Inflation Reduction Act of 2022 (or is it Build Back Better Redux), a proposed reconciliation bill. Manchin is known for blocking previous attempts to pass Build Back… Read more »

Investors Nearing Retirement Can Unlock Real Estate Wealth

July 13, 2022

Unlocking real estate wealth for investors nearing retirement Individuals or investors nearing retirement face the challenge of having wealth trapped in investment properties with no real strategy to maintain their wealth and create passive income. These individuals need a plan to ease the steep taxes on capital gains when their investment properties are sold. There’s… Read more »

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Anthony J. Madonia & Associates, Ltd. Map

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It would be our pleasure to discuss your business and estate planning needs.
For more information or to schedule an appointment, please complete the following, call or email us today.
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2700 S River Rd UNIT 115
Des Plaines, IL 60018
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Phone: (312) 578-9300

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