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Kevin's firm handled setting up my will and trust recently. They took something that seemed intimidating and made it easy to understand. I've also referred a couple clients to Kevin - he's trustworthy, approachable and very fairly priced.
"I've used Kevin and his firm's services since 2011. He gave undivided attention to my cases, advised me on different options and..."
"Kevin was extremely professional, responsive and knowledgeable when I came to him for help. I would definitely recommend O'Flaherty Law!"
Choosing the right law firm can change everything. At O’Flaherty Law, we pride ourselves on transparency, responsiveness, and personalized care. See how we compare to the industry standard.
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Learn how we service your area with our Remote Location Approach.
The purpose of a consultation is to determine whether our firm is a good fit for your legal needs. Although we often discuss expected results and costs, our attorneys do not give legal advice unless and until you choose to retain us.
Schedule a ConsultationLearn More About The Firm1515 Legacy Cir., Ste. 1A
Naperville, IL 60563
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I am personally committed to ensuring that each one of our clients receives the highest level of client service from our team. Our mission is to provide excellent legal work in a cost-effective manner while maintaining open lines of communication between our clients and their attorneys. Many of our clients are going through difficult times in their lives when they reach out to us. They should feel comfortable leaning on the experience and knowledge of our attorneys as their counselors and advocates. We are here to help!
In this article, our Naperville corporate attorneys explain when you should consult your business lawyer. Some new business owners are not sure when consulting with a corporate attorney is appropriate, but we're here to help you with this list of essential issues that are best handled with the assistance of an attorney.
In this article, our Naperville corporate lawyers explain the benefits of incorporating your business.
There are two primary benefits to incorporating your business, either as a corporation or an LLC:
(1) Liability Protection: Whether you incorporate as a corporation or as an LLC, your personal assets will be protected from business debts. Your most likely source of liability as a business owner comes from people you contract with, employees and independent contractors, banks that have lent you money, your landlord, and disputes with customers. If you are properly incorporated, anyone who sues you will only be able to pursue assets owned by your corporation. This means that your personal assets and any businesses that are separately incorporated will be protected from liability.
(2) Saving on Self-Employment Tax: If you are not incorporated, in addition to income tax, you are required to pay self-employment tax on any money that you take out of your business. However, if you file an S-Corp election, either as a corporation or an LLC, you only have to pay self-employment tax on your salary, not on profits that you distribute to yourself as a shareholder. I recommend consulting with an accountant to determine the smallest amount of salary that will be reasonable, and take everything else as profit free and clear of self-employment tax. Your accountant should also be able to tell you when incorporation makes sense from a purely financial perspective, even if you are not concerned about liability protection.
Read the full article by our Naperville corporate lawyers explaining the benefits of incorporating.
In this article, our Naperville Corporate attorneys and Naperville LLC lawyers explain minority shareholders’ rights in closely held corporations and LLCs. We explain what a minority interest in a corporation or LLC is and what a closely held corporation is, We also discuss the special rights that minority shareholders of closely held corporations and LLCs have including the right to notice and voting at shareholder meetings and the right to access business information.
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