The Secrets of Using a Corporation Webinar


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Learn The Secrets of Using a Corporation or Limited Liability Company. This is the best business education out there for owners of an S Corp, C Corp or LLC.

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The Secrets of Using a Corporation Webinar

  1. 1. 1-888-386-3811 Via @LaughlinUSA How To Protect Your Business Sponsored By: Laughlin Associates Presented By: Scott Burnett #corpsecrets
  2. 2. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 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
  3. 3. #corpsecrets 1-888-386-3811 Via @LaughlinUSA C Corporation S Corporation Limited Liability Company 1-888-386-3811 What Do All Business Entities Have In Common?
  4. 4. #corpsecrets 1-888-386-3811 Via @LaughlinUSA It’s Not An Option…….It’s Required By Law Business entities are required to keep records in all 50 states
  5. 5. #corpsecrets 1-888-386-3811 Via @LaughlinUSA Corporate Formalities What are they?  Minutes  Resolutions  Documentation Who might ask for them?  The IRS  Opposing Counsel  Shareholders
  6. 6. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 10. Corporate minute book and stock register. IRS Summons
  7. 7. #corpsecrets 1-888-386-3811 Via @LaughlinUSA You are ordered to produce the business records 1-888-386-3811 IRS Summons
  8. 8. #corpsecrets 1-888-386-3811 Via @LaughlinUSA You Must DOCUMENT In Order To DEFEND!
  9. 9. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 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. 10. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 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. 11. #corpsecrets 1-888-386-3811 Via @LaughlinUSA  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. 12. #corpsecrets 1-888-386-3811 Via @LaughlinUSA  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. 13. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 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
  14. 14. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 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. 15. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 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. 16. #corpsecrets 1-888-386-3811 Via @LaughlinUSA • 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. 17. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 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. 18. #corpsecrets 1-888-386-3811 Via @LaughlinUSA • 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. 19. #corpsecrets 1-888-386-3811 Via @LaughlinUSA Laughlin Associates Provides Minutes Resolutions Filings Amendments Meetings Notifications
  20. 20. #corpsecrets 1-888-386-3811 Via @LaughlinUSA 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. 21. #corpsecrets 1-888-386-3811 Via @LaughlinUSA Next Step Still not sure? Call for a complimentary corporate audit to see where you stand with your corporate records. 1-888-386-3811