Time not Wasted..

Question: What are the requirements of an S Corporation as far as mandatory/required meeting minutes?

Answer: All Corporations, no matter how they elect to be taxed, must record meeting minutes that document the thoughts and actions of both the Directors and Stockholders. Both the IRS and the Courts will request the amendments, resolutions and meeting minutes of a Corporation, and if these documents have not been implemented, the Corporation may be set aside, holding the stockholders personally responsible for taxes and legal actions.

Being successful involves knowing when to hire an expert to handle tasks you may not understand or have time for. Delegating time consuming tasks to a professional costs very little, when you calculate in your time wasted figuring it out yourself instead of focusing your time on the growth of your business.