Business Tips in a Minute

LLC Veil Pierced Due to Lack of Minutes

Here is yet another case law study where an LLC owner lost their veil protection because of lack of minutes. We are sad to see these cases and we know that small business owners just need to KNOW that minutes are important and how easy it is to keep up with the required documents!

That’s why we are on a crusade to educate and assist small business owners with company minutes and meetings. Such an easy thing that could save so much money, time, and loss of assets!

Click here to read the law study about the LLC veil being pierced. Note this is a very “legal” type read by Attorney Richard Keyt (whom we highly recommend), but it is worth it to know the information so the same thing won’t happen to you.

Here’s the direct link: http://www.keytlaw.com/azllclaw/2012/02/colorado-court-pierces-llc-veil/ 

Business Year End Review Strategies

The Power of Gratitude…
Why a “Grateful Year In Review” will get you ready to Look Ahead 

This is the best time of the year, and the most hectic time of year for most small business owners. It is easy to fall into the anxiety and rush of the season.

But when you pause to reflect on what you are thankful for, it can put you in a positive mood; And isn’t that the greatest way to end the year?

“Gratitude bestows reverence, allowing us to encounter everyday epiphanies, those transcendent moments of awe that change forever how we experience life and the world.” –Sarah Ban Breathnach, inspirational author

One tradition we have at our business, is to take time to list all of the major (and some of the minor) accomplishments for the entire year. We write them all down and schedule an entire morning to review them with everyone in our office. It becomes an energetic time to share and reminisce about the year! And if I left anything off of the lengthy list, someone is sure to let me know. We love to celebrate how far we have come and reward those who have done an outstanding job.

This “meeting” gets us in the frame of gratitude for all who have helped to move the business forward, and becomes a time of recognition (which everyone loves).

We also take time to recognize the feedback we receive from our clients and how those suggestions have made us a better company.

It is amazing to see this “Year in Review” and spend the time to show our employees our appreciation.

Here’s a few questions to ask yourself that will put you in that grateful perspective, and get you ready to think about your direction for 2012:

1) Who has made a difference in your life this year? What did they do? Have you thanked them for it? (It’s not too late to send a card of thanks!)

2) What has created the biggest impact on your business this year? Was it an event, an employee, a new marketing strategy? Who has helped you to implement and create positive change in your business?

3) What are some of your unique talents and gifts? What are some talents of your employees? What outstanding trait could you recognize for each employee?

4) Name five new things you learned this year related to the business. Is something working well…not working…does something need to change? Write them down and use this as a starting point for the new year.

Take a look at how far YOU have come this year, and use this to remind yourself to be grateful and positive. Then let us know what you are grateful about!

How to Put Annual Meeting in Your Minute Book

Business Trip? Be Sure to Document

Document every business quickly and easily with the solution from Just A Minute, LLC

Are Small Businesses Being Targeted?

Are you as a Small Business Owner safe from having to pay more to the IRS if you are audited? Check out this post.

Top 5 Reasons Company Minutes are Important for Small Business Owners

1. Find More Deductions! – When you follow our memory-jogging questionnaire, you may just find some more deductions you didn’t think about. Be sure to share these with your CPA for maximum savings!
2. Save Your Sanity By Keeping Current! - It is so much harder to catchup than to keep up! When you use our simple online system each month, you actually save yourself time and energy, no need to search back through old documents and bank statements to find what needs to be documented. It will all be fresh in your mind! That’s why we created this system: to Save Small Business Owners Time and Money, while still getting the paperwork done right!
3. To Protect Your Business and Personal Assets in Case of Lawsuit! – the first things and opposing attorney will ask for is business records. If you don’t have any, or you don’t have the correct documents done, forget about saving your personal assets too from scrutiny and the prosecutor. It’s too late!
4. Save Your Deductions from an IRS Audit! – One of the great things about documenting all business decisions and expenses is that you have PROOF. Proof not only that your expenses were really expenses, but that your business is actually running as a business and not just a hobby.
5. Save YOU Time! – This may be similar to #2 , but saving time is so important to a small business owner (it is to me!) that it bears mentioning in its own spot. All you have to do each month is take a few minutes to do your reporting, that’s all you have to do.. and we do the rest! You don’t have to worry about when to hold your Annual Meeting (we do that for you), you don’t have to worry about which form, out of the 600+ to choose or how to correctly word your business actions… We do that for you, too!

To find out more about Minutes for your company Click Here.

Comment below and tell us how important minutes have been to your company? Have they saved your personal or business assets? Have you found more deductions?

Are you neglecting your business?

Are you neglecting your business?…

Right now MOST business owners ARE neglecting their business! I’m sure you are thinking… How can I be neglecting my business when I basically eat and sleep there?

Yes you may spend many hours working on the growth of your company, but do you have a solid foundation?

A solid foundation is crucial in protecting your corporate veil and keeping your personal and company assets protected.

You are probably wondering what that solid foundation is….Well your solid foundation is PROPER LEGAL documentation!

Did you know there are 13 documents you must have in order to have this sturdy foundation?

Without these 13 documents your company’s corporate veil could be pierced, your tax deductions disallowed, and thousands of dollars and hard work down the drain.

Now again I ask you, Are you neglecting your business?

Click here to find out what 13 documents you MUST have to Bullet-Proof Your Company from Lawsuits and IRS Audits.

Stop neglecting your business today!

Share this on Facebook and Twitter and warn others Business Owners to Bullet-proof their business!

Also, Comment below and tell us what you found interesting/shocking!

Helping Small Business Owners – My Crusade

Yep. I’m on a crusade. Here’s why.

I have found that 87% of small business owners neglect one of the most important parts of their business – their company record book. Although it takes only minutes every month to do the paperwork, it gets neglected because the business owner doesn’t have the time or doesn’t know how.

Not keeping up with your records is a ticking time bomb just waiting to go off.

What do I mean by records? I mean the monthly resolutions and annual meeting minutes.

Every time you make a decision for your company, you must document it. Say you decided to purchase a new copy machine, or hire a new employee. That decision must be documented in a written resolution.

Then when you hold your annual meeting (did you do that this year?), all the resolutions are mentioned along with what was discussed at that meeting in the annual meeting minutes.

These documents should be in the correct form, the correct legal language and MUST be signed with the proper signature designation.

So, that’s why these things are neglected – who wants to take the time to research what the form should be, what is the correct legal language, and what is the proper way to sign these documents?

So, I’m on a crusade to make it easy for companies to be compliant. So when the IRS comes to audit their business, they don’t have to pay all the penalties and fines for deductions claimed, but not documented.

And if a lawsuit ever comes their way, their corporate veil won’t be pierced and all their personal assets as well as the company assets jeopardized.

Protection…..

It’s a great feeling to be protected.

I suggest you get the free book my colleague, Kari VanNoy, wrote: “Bullet-Proof Your Business.” Download it at www.JustAMinuteLLC.com/gift

Tell me what you think in the comment section below. Did this hit home for your business? Are you protected? What do you think about my crusade?

Is Your Annual Meeting Next Month?

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.)

Your Annual Meeting is the most important meeting of the year for your company.

But most importantly, it protects you.

The results could be disastrous.

If you are sued your corporate veil could be pierced (even if you have an LLC!). In other words, you could lose the asset protection of your business entity and your personal assets could be in jeopardy.

When should your annual meeting take place?

Look in your company operating agreement or by-laws. It will tell you when your annual meeting should be held.

Just A Minute, LLC takes all the worry from you.

Just A Minute LLC Can Help Protect Your Business

The IRS recently hired 3,000 new field agents. Their purpose? To audit small businesses.

You see, they think they can find deductions that businesses reported on their tax return and disallow them….and then collect the money — plus penalty and interest.

What does that mean for you as a small business owner? It means you should be sure your company paperwork is current. That means your minutes and resolutions should be in your company minute book.

So, if you decide to purchase any equipment that costs over $500, you should create a company resolution that you are going to purchase that piece of equipment, sign it and put it in your company minute book.

If you decide to take out a loan, it should also be documented. There are hundreds of other minutes and resolutions that should be documented so you can protect your company.

How are you supposed to know everything you should document? How do you word the document so it is legal? What form should you use?

That’s how Just A Minute, LLC can help. They prepare your minutes and resolutions for you. Simply go online and answer a few questions that will jog your memory about what to include in your minutes.

They do the rest. They select the proper form and use the correct legal language. Then they prepare the monthly resolutions for you. They also prepare your annual minutes.

All you need to do is sign them and put them in your company minute book.

Simple.

You don’t have to worry about those 3,000 new IRS agents. And your business will be safe and protected.

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You can contact Just A Minute, LLC at 1-888-552-6552 or at http://www.JustAMinuteLLC.com