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Our Frequently Asked Questions:
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| What is an Annual Report? |
| How do I know if I am required to file an Annual Report? |
| What are Annual Minutes? |
| How do I know if I have to do Annual Minutes? |
| Why do you only offer Monthly Resolutions? |
| Why is it important to do company minutes at all? I heard that it was not necessary. |
| What is the penalty of not doing company minutes? |
| Why should I choose Just A Minute instead of doing it myself or having a bookkeeper do it? |
Answers:
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What is an Annual Report?
An Annual Report is something that most states require to be filed with the Corporation Commission or Secretary of State with their set fee. If you do not turn in your Annual Report your company could be dissolved. |
How do I know if I am required to file an Annual Report?
Every state is different. You must check with the Corporation Commission or the Secretary of State where your entity was filed. Some states require only Corporations to file where other states require LLC and/or Partnerships or all entities to file Annual Reports. |
What are Annual Minutes?
You Annual Minutes reflect the meeting that you hold to document what has been going on with your company throughout each year. These do not need to be recorded or filed, they just need to be placed with your company records. |
How do I know if I have to do Annual Minutes?
Anyone that falls into any one of the following categories should prepare and keep company minutes: a) if you are running a business, b)if you are making any money, c) if you are taking tax deductions, d) if you are selling products or services to the public, e) if you are holding real estate as rental properties, and f) if you are buying or selling real estate. |
Why do you only offer Monthly Resolutions?
We actually do this for your protection. We found that many clients, when sending us information for their Annual Meeting Minutes, were forgetting vital business actions that needed to be documented. We now ask for all business actions on a monthly basis so you don’t have to remember what happened in your company 8 or 10 months ago. As you continue to document on a monthly basis, you will find you have the information right at hand, which eliminates the need for time-consuming research on when an event happened or how much was spent months ago, for example. |
Why is it important to do company minutes at all? I heard that it was not necessary.
It is only necessary when you want to protect your personal assets from your business assets. By properly documenting your business actions, you strengthen your “Corporate Veil” from being pierced by creditors and predators. Lawsuits & audits each require proper business documentation. If it is not there, your business tax deductions could be disallowed and/or your company could be considered an “Alter-ego” of yourself. This would allow your personal assets to be at risk in addition to your business assets. |
What is the penalty of not doing company minutes?
You could lose everything. See our special report "How to Bullet-proof Your Company from Lawsuits and Audits." Click here. |
Why should I choose Just A Minute instead of doing it myself or having a bookkeeper do it?
We are a full service, customer service-oriented Company, with real people preparing your documents, not just a computer merge online. We help you determine whether a resolution or a Special Meeting is necessary and send you a memory-jogging questionnaire each month. At Just A Minute, we save you time and money, so you can focus on your business, not the minutes paperwork. So you can be confident that all your necessary business actions are well documented! Let us go to work for you, click here to sign up for our Annual Minutes and Monthly Resolutions Service. |
