Many of you are scheduled to have your annual meeting in May. This is a great opportunity to plan a trip and use it for a tax deduction. (see previous video post.)
Your Annual Meeting is the most important meeting of the year for your company.
At your annual meeting, you approve all the actions you made last year, you may vote on new officers and directors, and you may plan for future activities or projects.
Your annual meeting minutes lists your “team” – your lawyer, accountant, bookkeeper, etc. – in your company summary as well as listing all the major decisions you have made on behalf of your company for the past year.
But most importantly, it protects you.
How does an annual meeting protect you? Well, if it is done right, and if you have an accurate record of everything you have done over the past year, and if you have the minutes of the meeting in writing with the correct legal form, and it is signed and placed in your minute book, then you are conducting business like a business.
What happens if you don’t have your annual meeting documented properly and in your company record book?
The results could be disastrous.
If you are sued your corporate veil could be pierced (even if you have an LLC!). In other words, you could lose the asset protection of your business entity and your personal assets could be in jeopardy.
If you are audited by the IRS your business deductions could be disallowed. Meaning you will pay more in taxes.
When should your annual meeting take place?
Look in your company operating agreement or by-laws. It will tell you when your annual meeting should be held.
Just A Minute, LLC takes all the worry from you.
They prepare your monthly resolutions for you. They remind you when you should have your annual meeting. They prepare your annual meeting record including who was present, where the meeting was held, past actions that were approved and other significant details.
All you have to do to get the proper paperwork that will protect you and your business is to login to the system once a month and answer a few questions about your business activities for the month. And then answer a few questions about where and what date you held your annual meeting and you are set.
No need to search for the proper legal form, or try to figure out the proper legal language to put in your document.
No need to hire an expensive attorney to get your minutes done right.
Call Just A Minute, LLC at 888-552-6552 or visit www.JustAMinuteLLC.com to protect your business now!
No operating agreement or by-laws? We can rescue your business with our company rescue service.. Call now. 888-552-6552