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May 19, 2026

Your Business Contracts Were Written for a Different World. That Is a Problem.

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Most business disputes do not start with bad intentions. They start with contracts that were written for a business environment that no longer exists.

The vendor agreement you drafted three years ago did not account for tariffs reshuffling your supply chain. The independent contractor arrangements your company relies on were built before enforcement agencies started looking much harder at how businesses classify workers. The employment practices you put in place assumed a set of rules that several states, including Illinois, have now rewritten.

In 2026, the distance between what your legal documents say and what the law now requires has grown wider, faster, than most business owners have had time to notice. That gap is where disputes begin, audits are triggered, and litigation gets filed.

January 1, 2026

January 1, 2026: Quiet Legal Changes Chicago-Area Business Owners Should Not Ignore

by George Bellas

For Chicago-area business owners, January 1, 2026 is shaping up to be a deceptively important date. There is no single headline-grabbing law taking effect. Instead, several Illinois and federal changes arrive at once, quietly affecting hiring practices, payroll, employee benefits, business expenses, and tax planning. These are exactly the kinds of changes that tend to create problems when they are discovered too late.

One of the most significant developments involves the use of artificial intelligence in employment decisions. Beginning January 1, 2026, Illinois law treats misuse of AI in employment as a potential civil rights violation. Employers using AI tools for recruiting, resume screening, interview scoring, scheduling, performance evaluations, or similar decisions must ensure those tools do not produce discriminatory results. The focus is on outcomes, not intent. Even well-meaning employers can face exposure if automated systems disproportionately affect protected classes. The law also requires notice to employees when AI is used in covered employment decisions, making it important to understand how HR software actually functions.

Another change affects payroll practices for nursing mothers. Illinois now requires that

November 12, 2025

Illinois Receivership Act 2026: What Every Illinois Litigator, Creditor, and Business Owner Should Know

by Bellas & Wachowski - Attorneys at Law

Effective Date: January 1, 2026

The Illinois Receivership Act will take effect on January 1, 2026, transforming how courts, creditors, and distressed businesses handle asset protection and management across the state. This new legislation provides expanded legal tools for addressing financially distressed assets, ensuring greater consistency and transparency in receivership proceedings.

Scope of the Act:

August 25, 2025

Are Properties Transferred at Death by a Transfer on Death Instrument (TODI) Subject to the Debts of a Deceased Owner in Illinois?

by Bellas & Wachowski - Attorneys at Law

Transfer on Death Instruments, or TODIs, have become a popular estate planning tool in Illinois. They allow real estate to pass directly to named beneficiaries when the property owner dies, all without the need for probate. But what happens if the deceased

owner had unpaid debts and the property transferred through the TODI is the only substantial asset? Can creditors go after the property? Do beneficiaries have to pay off those debts? Under Illinois law, the answer isn’t as simple as many assume.

A TODI is a legal document that enables a property owner to designate someone to receive real estate automatically at death. It’s similar to naming a beneficiary on a bank account or life insurance policy, but it applies to real property, often a primary residence.

August 13, 2025

What Illinois Business Owners Should Know About the One Big Beautiful Bill Act (OBBBA)

by Bellas & Wachowski - Attorneys at Law

A New Era of Tax Policy for Business Owners

On July 4, 2025, the One Big Beautiful Bill Act (OBBBA) was signed into law, ushering in sweeping changes to the federal tax code. While the law has drawn national attention for its b

roader political implications, it contains several key provisions that Illinois business owners should take seriously. These changes affect everything from depreciation schedules and pass-through deductions to employer tax credits and employee compensation planning.

August 12, 2025

Big News for Small Businesses: QSBS Rules Get a Major Upgrade

by Bellas & Wachowski - Attorneys at Law

Small business owners and startup founders now have a powerful reason to take another look at Qualified Small Business Stock (QSBS). A new federal law, the One Big Beautiful Bill Act, signed on July 4, 2025, makes QSBS more valuable than ever for growing companies and their stakeholders.

These changes give business owners, employees, and early investors more flexibility and larger tax breaks when selling shares. Whether you’re raising capital, attracting top talent, or planning an exit, this law could have a direct impact on your bottom line.

What Changed And Why It Matters

February 8, 2024

Employee or Freelancer? New Rules for Independent Contractors

by George Bellas

Employee or Freelancer?

Is a person who works for your business financially dependent on you, or can they potentially independently profit based on their skill set? Will they be part of your company indefinitely? Do they perform a central, daily, integral role? Do you dictate when, where and how they work? Do you limit their ability to work for others? Can the person apply what they do to other endeavors, widening their market reach and leading to other revenue streams?

Small businesses and other employers will need ask themselves this set of questions and consider the “totality of the circumstances” in determining whether to classify people who work for them as employees or independent contractors, in a rule change published by the U.S. Department of Labor’s Wage and Hour Division on January 10, set to take effect March 11.

December 7, 2023

Beware the Cryptocurrency Exchange Account

by Bellas & Wachowski - Attorneys at Law

Looking for a reason not to use a cryptocurrency exchange account?

If you are looking for a reason to use a cryptocurreny exchange account, you may now have a reason not to use one…..or at least check out the terms and conditions of the exchange.

One thorny question has arisen and needs the attention of everyone using an exchange account.

January 25, 2021

Small Business Second PPP Loans & Grants

by George Bellas

Small Business Pandemic Survival Information

The $900 billion pandemic relief package included relief for Small Businesses. The updated programs are intended to make it easier for small business owners to apply and gain funds.

The Small Business Administration (“SBA”) approved $5 billion in new Paycheck Protection Program (“PPP”) loans on January 19 and expanded the network of lenders who can make the loans. At least $25 billion is being set aside for Second Draw PPP Loans to eligible borrowers with a maximum of 10 employees or for loans of $250,000 or less to eligible borrowers in low or moderate income neighborhoods. More info is available on the SBA Website here.

October 23, 2020

Illinois Requiring Employee Training on Sexual Harassment Prevention

by George Bellas

State Requires Sexual Harassment Prevention Training

If you’re a small business owner and you haven’t trained your employees on sexual harassment prevention, you have until December 31 to stay in compliance with Public Act 101-0221, which amended the Illinois Human Rights Act to require such training this year and every year hereafter.

This recent law mandated that the Illinois Department of Human Rights put together a model training program for sexual harassment prevention, which the department has made publicly available to employers online.