Bullet-Proof,Your,Company,From business, insurance Bullet-Proof Your Company From An Audit
Small offices have unique needs, and thatincludes document shredding. Designed with the smaller business inmind, the Dahle 20314 is a cross-cut shredder that offers Level 3security and brings you into compliance with federal regulations. The As we all know to live in this world we have to perform some activity by which we can earn money. There are many activities by which we can earn money and meet the standards to live in this society. And from one of them is franchise. Franc
We see it a lot: a company owner has filed their "Articles of Organization" or "Articles of Incorporation" and gets their EIN number and thinks they are in business and protected. Well, they may be in business; but protected? That's another story.If you have an LLC, FLP or Corporation, and you are doing any of the following:Providing services or selling productsHolding real estate in your entityTaking business deductions on your tax returns, you absolutely must have the following documents in place.1. Operating Agreement (LLC)/Bylaws (Corp)/Partnership Agreement (FLP). A Limited Liability Company should have the following:Company Minute BookOperating AgreementSchedule of Membership Interests Schedule of Initial Capital ContributionsCertificates of Units or PercentagesCompany SealInitial Minutes of the Organizational MeetingPublication (as required by your state)Tax Election FormsCorporations should have the following, in addition to filing "Articles of Incorporation" with the appropriate State organization:Corporate Minute BookBylaws Certificates of SharesCompany SealInitial Minutes of the Organizational MeetingPublication (as required by your state)Tax Election FormsFamily Limited Partnerships should also have:Record BookPartnership AgreementSchedule of Partnership InterestsSchedule of Partnership AssetsCertificates of Units or PercentagesPartnership SealInitial Minutes of the Organizational MeetingPublication (as required by your state)2.Annual Report (not the same as annual minutes). Most states require you to file an annual report with the corporation commission or secretary of state. If you do not file these annual reports your company will be dissolved!3. Annual Minutes. You define your business actions throughout each year with your annual minutes. In your annual minutes you will list your elected officers and ratify all resolutions you have made throughout the year. If you do not update your annual minutes, your company could face serious repercussions in a lawsuit or an audit.4. Resolutions. This is what your company resolves to do. You must have these resolutions drawn up and signed, preferably monthly. Then they should be placed in your minute book. These resolutions will be mentioned and referenced at your annual meeting and in your annual minutes.5. Special Minutes. These special minutes are for additional company meetings and business trips, made in addition to your Annual Meeting. If you do not prepare Special Minutes for meetings of this sort, you may end up losing all of the deductions you took for tax purposes.6. Notice of Meeting and Waivers of Notice. You must give either a "notice of meeting" or a "waiver of notice of meeting" to all company members or directors. This allows your company to show that it is operating in a manner that is professional and that you are serious about running your company as it should be done. This is one more way to give your company an iron wall of protection.Don't let your business be collapsed or the "corporate veil" pierced due to lack of paperwork. Protect your assets by complete and concise paperwork.
Bullet-Proof,Your,Company,From