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Tip 5: Maintaining Your Corporate Book
· The Necessity to keep your Corporate Book Up-To-Date….
For those of you in business and incorporated, I want to remind you of the necessity to keep your Corporate books up-to-date. If your business becomes involved in an audit by a governmental agency or if your business becomes involved in a lawsuit, one of the first things asked for is your Corporate Book!Just because you file your Annual Corporate Report and pay the fees to your state does not guarantee you protection of the Corporate Veil….
· Common Avoidable Costly Error Business Owner's Make…
You must also act as a corporation by keeping your Corporate Book up-to-date. One of the requirements is an annual meeting…and the written minutes of the meeting. Even if the corporation has only one stockholder.Remember, you are putting at risk your self and your personal assets by not keeping your corporate books up-to-date.
The easiest way to keep your corporate book up to date is to make notes throughout the year of issues that need to be documented, then take the book and your notes to an attorney, or if your state allows, to a paralegal (who is generally much cheaper than an attorney) to generate the written record you need…then you just sign, date and put the papers in your Corporate book.
This will help protect you and the assets you have worked so hard for…