There Are Three Main Areas We Need To Keep In Mind As The Year Ends:1. Taxes2. Corporate Formalities3. Planning For Next YearThe Power Of Documentationshifting The Burden Of ProofFor Those Who Have An LLC (opposed To A Sole Proprietorship, S Corporation Or C Corporation), Its Always Better To Over-document. By Keeping A Tax Diary, You Shift The Burden Of Proof From Yourself To The IRS, Who Then Has To Disprove Its Validity. Annual Meetingan Opportunity To Have Some FunMake Sure Youve Done Your Annual Meeting By The End Of The Year. Why Youre At It, You Might As Well Make It Fun. You Can Hold It Anywhere In The Continental United States Without A Problem, And You Can Hold The Meeting Abroad Or Hawaii Or Alaska If You Can Show Why You Needed To Hold The Meeting There.Get Corporate Minutes And Meetings In Line.1.Prepare A Notice Or Waiver Of Notice (available On Pathfinders Web Site). When You Have A Corporation, You Need To Notify In Writing By Certified Mail All The Shareholders Of The Meeting. If Youre The Only Shareholder, You Certainly Do Not Need To Send A Notice To Yourself; Instead, You Can Print Out A Waiver Of Notice Because The Notice Is Unnecessary.2.Print Out A Form For The Meetings Minutes. Minutes Are What You Discuss At The Meeting (or Think About, If It Is Just You At The Meeting). You Can Hold Your Annual Meeting In Aspen And Ski. When Youre In The Lodge Thinking About What You Want To Do The Next Year For Marketing, Etc. And Jotting Down Ideas, This Could Be Your Annual Meeting.3.Extracurricular Things Need A Resolution. Resolutions Are Decisions You Made At The Annual Meeting. You Dont Need One To Take A Client To Dinner Or Attend A Seminar. You Do, However, Need One If You Rent New Space, Open Up A New Bank Account, Buy A Car. Its Better To Be Safe Than Sorry And Have A Resolution.4.This Is A Good Time To Make Sure You Have A Medical Reimbursement Plan In Writing. Fill Out The Form Off Pathfinders Web Site And Keep It In The Corporate Kit. Use The Same Advice In Regard To Your Educational Assistance Plan. Preparing This Document Does Not Take Long, But Its Very Important.
