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Cpa webinar

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  • 1. How To Protect Your Business 1-888-386-3811 Sponsored By: Laughlin Associates Presented By: Scott Burnett #corpsecrets
  • 2. 1-888-386-3811 Via @LaughlinUSA #corpsecrets Who is Laughlin Associates?  Corporate Formation and Compliance CompanyCorporate Formation and Compliance Company  Small Business Consulting and EducationSmall Business Consulting and Education  Asset Protection and Income RetentionAsset Protection and Income Retention  Providing Business Solutions Since 1972Providing Business Solutions Since 1972 www.twitter.com/laughlinUSA www.laughlinusa.com/blog
  • 3. 1-888-386-3811 Via @LaughlinUSA #corpsecrets C Corporation S Corporation Limited Liability Company 1-888-386-3811 What Do All Business Entities Have In Common?
  • 4. 1-888-386-3811 Via @LaughlinUSA #corpsecrets It’s Not An Option…….It’s Required By Law Business entities are required to keep records in all 50 states
  • 5. 1-888-386-3811 Via @LaughlinUSA #corpsecrets Corporate Formalities What are they?  Minutes  Resolutions  Documentation Who might ask for them?  The IRS  Opposing Counsel  Shareholders
  • 6. 1-888-386-3811 Via @LaughlinUSA #corpsecrets 10. Corporate minute book and stock register. IRS Summons
  • 7. 1-888-386-3811 Via @LaughlinUSA #corpsecrets You are ordered to produce the business records 1-888-386-3811 IRS Summons
  • 8. 1-888-386-3811 Via @LaughlinUSA #corpsecrets You Must DOCUMENT In Order To DEFEND!
  • 9. 1-888-386-3811 Via @LaughlinUSA #corpsecrets If your corporate records are not in order and you are sued, you could Be stripped of all liability protection And tax benefits. Fact
  • 10. 1-888-386-3811 Via @LaughlinUSA #corpsecrets Actions That Should Be Documented  S Corporation Election  Sale of Stock  Approval of Employee Agreement  Approval of Equipment  Officers Salaries  Acceptance of Accountant  Purchase of Property  Qualifying to do Business  Issuance of Dividends  Waiver of Notices to Hold Meetings
  • 11. 1-888-386-3811 Via @LaughlinUSA #corpsecrets  Qualified Retirement Plans  Issuing Stock  Changing Directors  Opening a bank account  Taking a corporate loan  Capitalizing the Corporation  Authorizing Fringe Benefits  Contracts with 3rd Parties Actions That Should Be Documented (continued…..)
  • 12. 1-888-386-3811 Via @LaughlinUSA #corpsecrets  Annual Meetings  Notices of Meetings  Entering into a Lease  Appointment of officers  Appointment of directors  Amendment of Articles  Amendment of By-Laws Actions That Should Be Documented (continued…..)
  • 13. 1-888-386-3811 Via @LaughlinUSA #corpsecrets What is an alter-ego? Personal Assets: • Home • Bank Accounts • Retirement • Other Assets Business Assets: • Property • Bank Accounts • Equipment • Cash Assets • Other Assets Business LifePersonal Life 1-888-386-38111-888-386-3811
  • 14. 1-888-386-3811 Via @LaughlinUSA #corpsecrets Piercing The Corporate Veil Proving that a corporation exists merely as an alter ego for an individual, so that in a lawsuit, the defendant can be held personally liable for the damages of the corporation.
  • 15. 1-888-386-3811 Via @LaughlinUSA #corpsecrets If you've failed to keep proper corporate records and if you are ever sued - you have a 50-94% chance of losing your personal assets in order to satisfy a judgment. Cornell Law Review “ ”
  • 16. 1-888-386-3811 Via @LaughlinUSA #corpsecrets • Your corporate charter being revoked. • Paying tax penalties on disallowed deductions. • Shareholders becoming personally liable for the corporation’s activities/debts. • Allowing a creditor, the IRS or attorneys to pierce the corporate veil seize your personal assets. Failure to maintain Corporate Formalities can lead to:
  • 17. 1-888-386-3811 Via @LaughlinUSA #corpsecrets Why Laughlin Associates? • Secure Your Corporate Veil • Stronger Asset Protection • We Do The Paperwork So You Can Run Your Business • Keep Your Company In Compliance • Cost Effective Over the last 40 years, we have assisted over 77,000 companies with getting and keeping their companies in compliance.
  • 18. 1-888-386-3811 Via @LaughlinUSA #corpsecrets • They tend to treat their business like a sole proprietorship • They don’t always document business decisions • They co-mingle funds and assets • They don’t know what documents they must maintain to stay in compliance…so they do nothing. Small Business vs. Larger Businesses 1-888-386-3811
  • 19. 1-888-386-3811 Via @LaughlinUSA #corpsecrets Laughlin Associates Provides Minutes Resolutions Filings Amendments Meetings Notifications
  • 20. 1-888-386-3811 Via @LaughlinUSA #corpsecrets The Complete Corporate Veil Protection Service • Initial review of your corporate status with your compliance coach. Our quick and easy online questionnaire outlines which documents your company needs now. • Unlimited custom corporate documents including minutes, resolutions and amendments. • Unlimited access to a personal corporate coach by phone or e-mail anytime to receive quick, knowledgeable answers to your questions. • 12-month customized calendar of recommended documents. • Corporate benefit kit; includes a priceless library of resources. • Ongoing monitoring service and auditing of your corporate records, and continual contact and review of your corporate status. • Subscription to “The Corporate Veil” monthly e-newsletter. Receive updates of current compliance requirements, business tips and strategies. • Digital Record Book. • Assistance with state filings. • Record Reconstruction. • Ongoing Business Strategy Webinars. Learn from the convenience and comfort of your own office.
  • 21. 1-888-386-3811 Via @LaughlinUSA #corpsecrets Exclusive Offer to Attendees for The Corporate Veil Protection Service: Offer expires Nov. 5, 2010 so act now! We are waiving the $100 set-up fee You can take advantage of the Corporate Veil Protection Service for $62.50 a month for 12 months. Plus receive a complimentary copy of “Lower Your Taxes, Big Time!” by tax expert Sandy Botkin. 30-Day Money Back Guarantee
  • 22. 1-888-386-3811 Via @LaughlinUSA #corpsecrets Next Step Still not sure? Call for a complimentary corporate audit to see where you stand with your corporate records. 1-888-386-3811

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