Hold Your Annual Meetings at an Exotic Location and Get a Tax Write-off!

Tue, Aug 25, 2009

Company Minutes Tips

Most business owners realize it’s time for their annual meeting and quickly plan a meeting in their office or at a nearby restaurant.

You are missing out on the opportunity for some weekend leisure at a beautiful spot . . . maybe a round of golf . . . while planning your work week around your annual meeting at an exotic location.

Why don’t you plan now to have your next annual meeting at an exotic location or great resort? You can use the trip as a tax write-off if you follow a few simple rules (see your CPA or tax strategist).

Most people know they need to hold an Annual Meeting for their
company. But do you know what needs to go into your Annual
Meeting and how to prepare for it?

1. When to hold your Annual Meeting.
Your company is governed by your Operating Agreement or Bylaws.
In the operating agreement or bylaws you can find a clear
statement of when your annual meeting should be held. (If you
don’t have an operating agreement or bylaws, call us
immediately). The operating agreement will contain a paragraph
entitled “Annual Meetings” or “Meetings of the “Members.”

2. Who Should Attend the Annual Meeting?
If you are the proud owner of an LLC, your meeting should include
all the members. If you have a Limited Partnership, it should
include all the general partners. A Corporation (Inc.) must have
TWO meetings: the first one is for the shareholders (all persons
who own stock in the Corporation); the second for the Directors.
If a member, director or general partner cannot attend the
meeting, you must have a majority present. This will be outlined
in your operating agreement.

3. Notice of the Meeting.
Did you know you must give a notice of the annual meeting to your
members, directors, shareholders, or general partner? You must
give written notice no less than 3 days and no more than 50 days
prior to the meeting. But there is an alternative to this
notice. And that is to have a waiver instead. Waivers can be
signed the same day as the meeting. Just A Minute, LLC can
prepare your waiver for you.

4. Documenting the Annual Meeting.
You MUST have the minimum requirements of your annual meeting in
your minutes. Luckily Just A Minute, LLC will meet and exceed
those minimum requirements to keep you legal.

5. You Can Have Your Annual Meeting at an Exotic Location.
All you need to do is plan ahead. Make a resolution a month or
two before your annual meeting is to take place (check your
operating agreement). This resolution should state where and when
you will be holding your annual meeting. Check with your CPA to
make sure you are using every last tax deduction you can for this
special annual meeting business trip.

6. Finalizing Your Annual Meeting.
Once you hold your annual meeting, login to
http://www.SubmitMinutes.com and submit your annual meeting
information. These minutes must be signed and placed in your
Company Minute Book.

Contact us at JustAMinuteLLC.com. 1-88-552-6552 or http://www.JustAMinuteLLC.com

We are here for you to protect your business and to help your company grow.

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3 Responses to “Hold Your Annual Meetings at an Exotic Location and Get a Tax Write-off!”

  1. Denise Stillman Says:

    Clever little video from the beach!

    [Reply]

    Reply

  2. Courier Says:

    Thanks for sharing the different kind of article which is very useful for us. We hope more from your website.

    [Reply]

    Reply

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  1. Is Your Annual Meeting Next Month? | Business Tools & Tips -

    […] Many of you are scheduled to have your annual meeting in May. This is a great opportunity to plan a trip and use it for a tax deduction. (see previous video post.) […]

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