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Smart Yearend Planning-Corporate Formalities
Forex Trading Explained.
DrForex's top selling forex book Bird Watching in Lion Country - Forex Trading Explained in e-format.
Author: Drew Miles Article source: http://www.articlealley.com/. Used with author's permission.
There are three main areas we need to keep in mind as the year ends:
1. Taxes
2. Corporate formalities
3. Planning for next year
The power of documentation—shifting the burden of proof
For those who have an LLC (opposed to a sole proprietorship, S Corporation or C Corporation), it's 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 meeting—an opportunity to have some fun
Make sure you've done your annual meeting by the end of the year. Why you're 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.
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