Information and Assistance for Small Business Owners
From time to time we receive information from various government agencies or non-profit groups that might be of use to Small Business Owners.
They will be posted here and updated periodically.
Please scroll down to see all the articles.
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More Helpful Information From The Police Department
Prevent Air Conditioning Thefts
Click Here
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14th District Commander Flores: "Attention to Incidents is Up, But District Crime Rate is Down"
Click here to Read the letter
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From the Chicago Police Department
Business Robbery Prevention Tips
Click here
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From the SBA New Business Data Website
Your small business needs to be equipped with the best tools and information available to innovate and grow. Data.gov recently launched a new site to collect all of the business-related data, apps, and tools the government has to offer for interested small business owners and app developers.
Learn more
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From the SBA How to Find the Right License and Permit for Your New Business
Starting a business? Confused about whether you need a business license or permit? Check out our overview of the process of obtaining a license or permit for your new business.
Read more
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From the SBA When to Hire a Lawyer for Business Matters
Ever wonder if you need to get a lawyer involved in a business matter? See these guidelines to help you know which legal business issues you can probably handle independently and when it’s really time to retain a lawyer.
Read more
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From the SBA How to Start a Successful E-Commerce Business – 6 Tips from Seasoned Pros
According to U.S. Census data [pdf], e-commerce sales are increasing at a rate faster than traditional offline retail sales, so it’s no surprise that people are turning to e-commerce as a business opportunity. If you’ve got questions about starting an e-commerce business, consider these tips and recommendations.
Read more
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In 2012, The Chicago Tribune Will Offer Almost 50 Classes on Social Media.
The classes are designed for all skill levels and interests.
Each 3-hour class can be purchased individually. You can also purchase a package of three classes at a reduced cost. The classes are held for three consecutive weeks at Tribune Tower, located on Michigan Avenue in downtown Chicago. For more info and to register, please click here.
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From SBA-How to Choose, Claim, and Protect Your Business Name – Online and Offline
Choosing a business name is an important step in the business planning process. But where do you start? Here are some tips to help you pick, register, and protect your business name – online and offline.
Read more
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From SBA-Get Startup Advice With These 6 Free Online & In-Person Resources
Looking to start a business? Here’s an overview of online and face-to-face resources that provide free or low-cost counseling and training to new and aspiring business owners.
Read more
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From The City of Chicago-For Individuals and Families Only
Free income tax preparation for families earning less than $50,000.00 and individuals earning less than $25,000.00.
You need to bring Bank Account & Routing Numbers, Photo Identification, Social Security Card for All Household Members, All 2011 W-2 and 1099 Forms, Copy of 2010 Tax Return and Copy of Property Tax Bill Paid in 2011.
For dates and locations visit www.cityofchicago.org/ctac or call 311, 312-630-0273, 312-409-1555 or 312-409-4318 (Spanish)
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From SBA-Opening and Running a Restaurant – A Legal and Regulatory Checklist
Opening a restaurant or food service business requires research, planning, capital (not always as much as you think), business acumen, and perseverance. It also requires a number of legal and regulatory considerations, during both the startup phase and the lifecycle of the business. Here are some tips for starting and operating a restaurant within the law.
Read more
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From SBA-Going Beyond the Spreadsheet – Automate Your Billing Process with Online Software
Preparing invoices can be a taxing and costly process for small business owners. For example, if you are a solo business owner or just don’t have the staff to develop tough internal controls, then you may well be spending too much time creating manual paper-based invoices. The Internet and cloud computing offer various options for managing the entire invoice process efficiently and seamlessly. Here are a few reasons to take your billing system online, questions to ask, and options that may fit your business needs.
Read more
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CITY'S NEW DATA PORTAL
The City of Chicago's Data Portal is dedicated to promoting access to government data and encouraging the development of creative tools to engage and serve Chicago's diverse community. The site hosts over 200 datasets presented in easy-to-use formats about City departments, services, facilities and performance. The catalog presented lists datasets alphabetically and links back to each set on the Portal. Entrepreneurs looking to develop innovative web apps should investigate the possibilities. Data sets include crime statistics, maps, budgets and more. Also, all business license data is available. Click here for more information.
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2012 SIDEWALK CAFE SEASON APPLICATIONS AVAILABLE
The 2012 Sidewalk Café Season begins on March 1st. Applications for last year's sidewalk café permit holders have been mailed. Please let us know if you have not received your application packet. New sidewalk café permit applicants may download the "Sidewalk Café Application Information Package - 2012 Season" at www.cityofchicago.org/content/city/en/depts/bacp/provdrs/public_way.html. As a reminder, the entire application process may take 30 - 45 days, so make sure to submit your completed and signed application along with all the required documents to prevent any delays in processing. Please call us at 312-744-GOBIZ (744-6249) if you have any questions.
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THINKING OF ADDING AN OUTDOOR PATIO LIQUOR LICENSE?
If a liquor establishment is adding an outdoor patio liquor license for 2012, it should start the application process now so that the license is ready to issue in the spring/summer. Too many licensee's apply for outdoor patio licenses in May/June without understanding that there is a 45-day mandatory community notification period and potential other issues that can arise that prevent the license from issuing until August or September after the season. Click here for more information.
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CHICAGO SHOVELS IS A NEW, INTERACTIVE ONLINE RESOURCE
ChicagoShovels.org is a new, interactive online resource that helps Chicagoans engage and participate in critical winter- preparedness efforts.The new site is being launched with a real-time "Plow Tracker" that allows residents to monitor the progress of the City's snowplows,a volunteer "Snow Corps" program,and links to winter web apps. The City is also launching an "Adopt-a- Sidewalk"shoveling initiative where Chicagoans can soon visit the site and sign up to be part of the program.
Click here for more information
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FROM THE ILLINOIS CHAMBER OF COMMERCE
The National Labor Relations Board has postponed the implementation date for its new notice-posting rule until January 31, 2012 in order to allow for enhanced education and outreach to employers, particularly those who operate small and medium sized businesses. AVAILABLE NOW - Place your order TODAY!
Every Illinois workplace is required by law to display certain current employment law notices. We have included this NEW NLRB 11 by 17-inch notice in our NEW Illinois and Federal Mandatory Employment Law Poster Sets.
The Chamber's poster set includes the 19 major Illinois & federal postings required for Illinois employers. Compliance couldn't be easier, or more affordable.
Each poster set contains two posters, each 24-by 48 inch in size . Posters are available for $45 per set of two plus S/H and taxes.
To order your Illinois and Federal Mandatory Employment Poster Set,
please go to the Illinois Chamber's website at www.ilchamber.org
or contact
Pam Holleman,Human Resources Specialist & Publication Sales Representative, at 855-239-6150 or email pholleman@ilchamber.org to place your order today.
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HAVE YOU HIRED A VETERAN?
Expanded tax credit for hiring unemployed veterans
Recent legislation expands the work opportunity tax credit.
The credit is available to businesses that hire eligible unemployed veterans who begin work on or after Nov. 22, 2011, and before Jan. 1, 2013.
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TAX STRATEGIES FOR A MOBILE OFFICE
If Starbucks is your headquarters and you spend much or most of your time out and about, you may be part of a growing group of business owners who work on a mobile basis. A laptop, tablet, and smartphone enable you to set up an office just about anywhere. Certainly, not having to pay office rent cuts your overhead substantially. Being mobile also gives you more flexibility in scheduling and running your business. But you still have costs for working on a mobile basis. Here are the tax rules you need to know.
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7 MONEY-SAVING YEAR END TAX TIPS FOR SMALL BUSINESSES
Although tax season is still a few weeks away, now is the time to take advantage of a basket of tax opportunities that can help your small business reduce its tax liability and save money come April 2012. Here are seven tips that can help you maximize your deductions and claim the credits you deserve.
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WHAT SHOULD I SHRED AND WHEN
The end of year is upon us and a new tax season is approaching. People are organizing their files to get ready for the new year. The same question comes up "What should I shred and when?" According to www.aarp.org, "Shred everything with your signature, birthdate, social security numbers, passwords, and PINs. This should be done after 45 days for credit card statements unless needed for proof of purchase or for tax reasons. Bank deposit slips or ATM receipts should be disposed of as soon as shown on the account. Bank statements, medical bills ,and pay stubs should be shredded after one year. It is recommended that you save all mortgage, taxes, home improvements, and medical prescription records indefinitely.
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IRS SCAM
A message claiming to be from the IRS Office of Professional Responsibility is being received by taxpayers instructing them to acquire a new EIN. Taxpayers may call the IRS stating they have received the email. The subject line contains the text "Acquire new EIN". The body of the message instructs recipients to obtain a new Employer Identification Number in connection with fraudulent actions. NOTE: The text in the subject line and/or body of the message may read differently, but the message is similar.
If you receive this fraudulent email, be advised of the following:
1. The IRS does not initiate taxpayer communications through email.
2. Do not reply to the sender, access links contained in the email or submit any information.
3. Forward the message as-is immediately to phishing@irs.gov
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MAYOR EMANUEL ANNOUNCES FORMATION OF NON-PROFIT MICROLENDING INSTITUTE TO INVEST $1 MILLION IN THE CITY’S SMALL BUSINESSES
Chicago Microlending Institute will train new microlenders and spur more than $20 million in annual business revenue, create nearly 1000 small business jobs over next four years
Mayor Rahm Emanuel today announced the formation of the Chicago Microlending Institute (CMI), a first-in-the-nation institute that will train new lenders to make targeted loans to the City’s smallest businesses. The CMI will administer the Small Business Loan Fund, a $1 million pool of loan capital that is aimed at supporting the smallest businesses in Chicago with targeted microlending.
Earlier this year, the Mayor announced two initiatives that focus on small and minority- and women-owned businesses: The Small Business Initiative, which levels the playing field so that small businesses can compete alongside large firms for City contracts, and the Diversity Business Initiative, which is designed to increase the use of minority and women-owned businesses in the private sector by providing participation credits toward City contracts. Additionally, Mayor Emanuel worked with Goldman Sachs to bring the 10,000 Small Businesses program to Chicago, which will infuse the city with $25 million in crucial resources and training for the city’s small businesses. The Mayor has also successfully rolled back half of the $4 “head tax” in his 2012 budget, and has pledged to eliminate the entire tax by the end of his term.
The Office of New Americans has pushed a number of initiatives aimed at spurring new businesses in the immigrant community. The Office will build on the City’s annual resource fair, creating temporary one-stop-shops for immigrant business owners and expanding them to quarterly events. Relevant city staff and community partners will be on hand to provide educational information to business owners about navigating the licensing and inspections processes. Further, through a workshop at the beginning of every year, ONA will “train the trainer” by educating immigrant business associations and immigrant groups on the range of services offered by the City and established chambers of commerce. The Office will also work with community organizations to ensure volunteer translators are on hand at least once a month to provide language access at critical City small business workshops.
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3 WAYS TO START PLANNING BETTER FOR YOUR EXISTING BUSINESS (FROM SBA)
It's tough to build a business and keep it growing through the years. Good business planning can help a growing business stay focused and efficient, even as you manage the daily routine and changing markets. Here are three ways to get back on track with business planning.
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STARTING A BUSINESS LATER IN LIFE? FINANCING OPTIONS FOR RETIREES AND SENIORS (FROM SBA)
According to The Senior Source, in 2005, 15 percent of working people expect to start their own businesses when they retire. But how do retired and senior entrepreneurs access the capital they need? How much does starting a business cost? What loans are available? Should you break into your retirement nest egg? Here are some considerations and options for financing your post-retirement business.
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STEP UP OR GET LEFT BEHIND-HOW TO IMPROVE ENGAGEMENT WITH YOUR FACEBOOK FANS (FROM SBA)
If you operate a Facebook fan page, then you’ll have noticed a plethora of changes in recent months. While many of these changes are cosmetic, some are not, and they could have a big impact on your social media success. So how is Facebook rewarding engaged business pages? Here’s how it works.
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URGENT SCAM ALERT: BEWARE OF FAKE COMPLAINT E-MAIL CLAIMING TO BE FROM BETTER BUSINESS BUREAU (from SBA & BBB)
The Better Business Bureau (BBB) warns businesses to beware of a malicious e-mail claiming to be from the BBB about a complaint filed against a company. The BBB does not send complaints out as attachments.
The phishing email is sent from multiple e-mail addresses and has in its subject line a nine digit complaint number. BBB Accredited and Non-Accredited Businesses have been targeted and some consumers have also received the e-mail. Click here for more information.
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GOING ON THE ROAD? HOW TO DEDUCT YOUR SMALL BUSINESS TRAVEL EXPENSES (FROM SBA)
Going on a business trip? Visiting a potential vendor, customer or wholesaler? Confused about what business travel expenses you can and can’t deduct? Here’s what you need to know about what you can and can’t deduct as well as some tips, tools, and mobile apps for managing your expense documentation.
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ARE YOU CLASSIFYING INDEPENDENT CONTRACTORS CORRECTLY? IRS OFFERS BUSINESSES AN AMNESTY (FROM SBA AND IRS)
If your small business uses both employees and independent contractors you may think there are few differences between them – they do the same work, have similar goals and you pay them both for their contributions. But regardless of whether you see any day-to-day differences, the IRS does. This article explains the gray area of contractor/employee classification and outlines a new IRS “amnesty” program designed to help business owners correct their worker classification mistakes.
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ANTI-DISCRIMINATION ORDINANCES FOR BUSINESSES (FROM COMMISSION ON HUMAN RELATIONS)
Every business in the city of Chicago, regardless of number of employees, is subject to the City's two anti-discrimination ordinances. A Chicago business cannot discriminate against customers or employees - potential or actual - based on any of the 14 protected classes listed in the ordinances. Click here for more information from the Commission on Human Relations.
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NEW ORDINANCE INTRODUCED TO EASE RESTAURANT INSPECTIONS FOR LOW-RISK FOOD ESTABLISHMENTS (FROM SBA)
Mayor Rahm Emanuel has introduced an ordinance that will make doing business in Chicago easier for new and existing food businesses by initiating a self-certification pilot program for low-risk food inspections and improving the efficiency of City inspectors. If passed, this ordinance will give the Commissioner of the Department of Public Health the ability to create an alternative certification system for these low-risk food retailers so that they can self-certify, while saving taxpayer dollars and maintaining current health requirements to protect consumers. Chicago would be one of the first major cities to implement such a program.
Click here for more information.
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AS OF JANUARY 1, 2012, ALL CITY OF CHICAGO BUSINESS LICENSE RENEWALS MUST BE PROCESSED ONLINE (FROM BACP)
Renew Your Business License Online
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IRS ISSUES GUIDANCE ON TAX TREATMENT OF CELL PHONES
The Internal Revenue Service issued guidance designed to clarify the tax treatment of employer-provided cell phones. The guidance relates to a provision in the Small Business Jobs Act of 2010, enacted last fall, that removed cell phones from the definition of listed property, a category under tax law that normally requires additional record-keeping by taxpayers. The notice issued provides guidance on the treatment of employer- provided cell phones as an excludible fringe benefit. Click here for more information.
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MAYOR EMANUEL ANNOUNCES PLAN TO ELIMINATE THE HEAD TAX FOR CHICAGO BUSINESSES
Mayor Rahm Emanuel announced that the Administration is taking steps to eliminate the City's "Head Tax" - fulfilling a pledge he made during his campaign to phase out the tax which is a deterrent for businesses to start and grow in the City. Under the Mayor's plan the "Head Tax" will be reduced by 50 percent in 2012 with its complete elimination occurring in 2014. Click here for more information.
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UNDERSTANDING SBA 7(a) LOAN FEES
One of the most misunderstood (and vilified) elements in applying for a loan, any loan, are those pesky fees that seem to pop up all over the place and may add up to a significant amount. Understanding loan fees will go a long way toward helping you face the application process with a clear view of how much you should expect to pay.
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IS THERE REALLY FREE MONEY TO OPEN A BUSINESS?
It is not uncommon for potential business owners to call or visit the SBA asking for grants or free money to start their business. In most cases, this information is incorrect or misleading - and sometimes, business owners are the target of a scam. So what's really available for FREE?
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MOVING OUT OF THE HOME OFFICE - FOUR TIPS FOR GROWING BUSINESSES (FROM SBA)
Running a home-based business has numerous advantages for many business models, and for businesses of stages. However, small business owners often find they are not cut out to work from home, or they’ve found their enterprise growing and need to hire employees, or they simply need a more professional space in which to conduct business. How do you make a seamless and cost-effective transition from a home-based business to a professional office space? Here are some best practices to consider as you expand beyond your home-based business environment.
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WHAT EMPLOYERS NEED TO KNOW ABOUT CLAIMING THE SMALL BUSINESS HEALTH CARE TAX CREDIT
Many small employers that pay at least half of the premiums for employee health insurance coverage under a qualifying arrangement may be eligible for the small business health care tax credit. This credit can enable small businesses and small tax-exempt organizations to offer health insurance coverage for the first time. It also helps those already offering health insurance coverage to maintain the coverage they already have. The credit is specifically targeted to help small businesses and tax-exempt organizations that primarily employ 25 or fewer workers with average income of $50,000 or less. Read More
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NEW VIDEOS ON HOW YOU CAN GET A BUSINESS COUNSELOR
As one of SBA's resource partners, SCORE has provided counseling and mentoring to small business owners and entrepreneurs for the past 40 years. There are over 13,000 SCORE volunteers working in 364 chapters across the country. Last year, SCORE counselors helped create over 71,000 jobs. Now they have a new website, and an inspiring new series of videos featuring small business owners like you who have grown their business with help from SCORE volunteers.
Read More
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PROTECT YOUR SMALL BUSINESS WITH FLOOD INSURANCE FROM FLOODSMART.GOV (FROM SBA)
Flooding is the number one natural hazard in the U.S. It doesn’t matter where your business is located, it can still be at risk from hurricanes, flash floods, blocked storm sewers, snow melt, and so on, and unfortunately the devastation can be costly. According to the National Flood Insurance Program, almost 40 percent of small businesses never reopen their doors following a disaster because just a few inches of water can cause tens of thousands of dollars in damage and close your doors long enough to lose your customers.
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SHARED KITCHEN LICENSE IN EFFECT (FROM BACP)
On September 6, 2011, a new ordinance went into effect that creates a special category of business licenses for the operators and users of shared use commercial kitchens in the City of Chicago. Click here for more information.
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WHAT IS A HOME OCCUPATION LICENSE & WHEN IS IT NEEDED (FROM BACP)
A home based business is when a home is used for a business that is secondary to the residential use of the home. The most common are consulting or administrative/office type of activities. Click here for more information on requirements to obtain a home occupation license and home occupation rules.
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IS YOUR BUSINESS ELIGIBLE FOR THE HEALTH CARE TAX CREDIT? (FROM IRS)
Small employers that pay at least half of the premiums for employee health
insurance coverage under a qualifying arrangement may be eligible for the
small business health care tax credit. The credit is specifically targeted
to help small businesses and tax-exempt organizations that primarily employ 25 or fewer workers with average income of $50,000 or less.
IRS Newswire
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FIVE TIPS FOR OUTSOURCING YOUR SMALL BUSINESS PAYROLL OPERATIONS (FROM SBA)
If you find you don’t have enough hours in the day to take care of your business operations, your clients and your employees, outsourcing key business functions such as payroll can be a cost-effective business strategy. In fact, payroll is the first function many small business owners look to outsourcing.
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LEVELING THE FEDERAL CONTRACTING PLAYING FIELD - THE WOMAN OWNED SMALL BUSINESS PROGRAM EXPLAINED (FROM SBA)
In an effort to create a more level contracting playing field for women-owned small businesses, in late 2010, the SBA announced a rule that would implement the long-awaited Woman-Owned Small Business contracting program. So what is the WOSB Program and how can you take advantage of it? Here’s what you need to know and the steps you need to take to get your business certified to participate...
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TREASURY, HHS TAKE NEW STEPS TO HELP STATES BUILD AFFORDABLE INSURANCE EXCHANGES
Tax Credits to Help Millions of Middle-Class Families
The U.S. Department of the Treasury and the Department of Health and Human Services today took the next steps to establish Affordable Insurance Exchanges – one-stop marketplaces where consumers can choose a private health insurance plan that fits their health needs and have the same kind of insurance choices as members of Congress.
In the weeks ahead, the Administration will conduct an aggressive outreach campaign and ask for public comment on the three proposed rules from employers, consumers, State leaders, health care providers and insurers, and the American people. In addition to accepting written public comments for the next 75 days, the Departments will hold forums. These forums will help ensure more Americans have the opportunity to share their views regarding the establishment of Affordable Insurance Exchanges. Forums will be held in:
Atlanta, GA
Chicago, IL
Denver, CO
New York, NY
Portland, OR
Sacramento, CA
The Departments expect to modify the proposed rules issued today based on the feedback we receive from the American people.
A detailed list of States that received grants is at: Grant Factsheets.
For more information about the proposed rules, visit:
Overview;
Easy, Simple Access to Coverage for Consumers and Small Businesses
Health Insurance Premium Tax Credit
Medicaid Eligibility
A copy of the letter is available here
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BUSINESS LICENSES (FROM BACP)
The Department of Business Affairs and Consumer Protection (BACP) issues over 70 different types of business licenses in the City of Chicago and regulates industries as diverse as retail, food establishments, day care centers, manufacturing facilities and motor vehicle repair shops. BACP also regulates the sale of retail liquor in Chicago.
Applying and renewing your license online is easy and quick! Most types of business licenses can be applied for online. When applying in person- a BACP Business Consultant will help determine what licenses or permits you need, process your application and also connect you with business resources. We are located in City Hall, 121 N. LaSalle St, Room 800. Office hours are Monday through Friday from 8:30 a.m. to 4:30 p.m. You can request an appointment with a business consultant here or by calling 312-74-GOBIZ (744-6249).
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THE INTERNAL REVENUE SERVICE TODAY ANNOUNCED AN INCREASE IN THE OPTIONAL STANDARD MILEAGE RATES FOR THE FINAL SIX MONTHS OF 2011 (FROM IRS)
Taxpayers may use the optional standard rates to calculate the deductible costs of operating an automobile for business and other purposes.
The rate will increase to 55.5 cents a mile for all business miles driven
from July 1, 2011, through Dec. 31, 2011. This is an increase of 4.5 cents
from the 51 cent rate in effect for the first six months of 2011, as set
forth in Revenue Procedure 2010-51.
In recognition of recent gasoline price increases, the IRS made this special adjustment for the final months of 2011. The IRS normally updates the mileage rates once a year in the fall for the next calendar year.
The new six-month rate for computing deductible medical or moving expenses
will also increase by 4.5 cents to 23.5 cents a mile, up from 19 cents for
the first six months of 2011. The rate for providing services for charitable organizations is set by statute, not the IRS, and remains at 14 cents a mile.
The new rates are contained in Announcement
www.irs.gov/pub/irs 2011-40 on the optional standard mileage rates.
Taxpayers always have the option of calculating the actual costs of using
their vehicle rather than using the standard mileage rates.
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HAVE YOU BEEN A VICTIM OF BAD CHECKS?
Cook County State’s Attorney Anita Alvarez has implemented a cost free service in an effort to assist businesses, professional services and individuals victimized by bad check losses.
The Bad Check Restitution Program aids businesses and the service industry in the recovery of losses, associated with NSF (non-sufficient funds) and account closed checks, as well as holding bad check writers accountable for their actions. The program is provided at NO COST TO BUSINESSES OR TO TAXPAYERS. It is funded solely through statutory fees paid by the bad check offenders, making this unique program totally self-supporting. If you need more info please go to www.checkprogram.com/merchants
or call Esteban Correa at 866-581-7287
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