Corporate Minutes Are a Must

By David Gass

Let’s start with the basics, first of all you incorporated your business for most if not all these reasons:

• Asset Protection
• Personal Liability Protection
• Tax Savings
• Separate Personal and Business Credit
• Stronger Business Image

Every entrepreneur who incorporated to gain these benefits and protection can also lose these benefits and pierce thier corporate veil simply by not taking proper company minutes.

State laws in all 50 states require that all Corporations and LLC’s maintain proper corporate records and prepare annual meeting minutes, it is a must. Keeping regular company meeting minutes is your primary paper trail for your new corporation's legal life, therefore it is very important to know when and how to prepare these minutes.

Last year the IRS.gov commented that “most small business companies who incorporated failed to keep proper or accurate company minutes, if at all!”

Your business card states "incorporated," but if a lawsuit or audit should turn up, the courts and the IRS would surly feel differently when they ask to see your company minutes. To help you stay in compliance and stay on top of your necessary company documents, we’ve created a powerful software application to simplify and automate the entire process.

The Corporate Manager Software can easily maintain ALL of your required corporate records and help you stay in compliance for the following company actions:

• Annual meetings of directors and shareholders
• The issuance of stock to new or existing shareholders
• The purchase of real property
• The approval of a long-term lease
• The authorization of a significant loan amount or substantial line of credit
• The adoption of a stock option or retirement plan
• The making of important federal or state tax decisions, and
• Many other actions, such as buying a new company vehicle.

Our software is a complete all-in-one set of tools and services to help you keep up to date and in compliance without the worry or difficulty. You can test drive our Corporate Manager Software fully functional trial version by visiting our website.

.

go back