Page 31 - iNetrepreneurfall2019

So he asked Jim for the financials. dispute, etc., the very first set of estate conferences throughout
He noticed that Jim had taken documents any judge, revenue the country. Scott has had the
advantage of over $250,000 in agent or arbitrator would look at pleasure of accompanying some
corporate deductions over the are the Minutes and Resolutions. of the industry’s biggest names on
course of the three year audit, but They do this to determine stage.
because Jim hadn’t treated the whether you have been treating
entity as a separate corporation, the company completely separate Scott is an incalculable asset of
and instead as more of what would or simply just an alter ego of the wisdom, patience and experience.
be considered “Alter-ego”. He was you, the principals. If there are He has the unique gift of being
not entitled to these deductions no Minutes or Resolutions which able to get inside a project at its
as a sole proprietor. His penalty gives the company substance, inception, think out from within
was to pay the taxes on the $250k the company will be set aside the vision and objectives of the
and was penalized to the tune of essentially the piercing of the Founder(s), and see miles ahead
45%. He is now a client of mine corporate veil, and all liability will of what anyone could possibly
and is in full compliance. You fall through to the shareholders, see when just starting. He is,
see, the government, courts, IRS, where personal assets can now connect the dots fast, asks the
etc. allow us as business owners be affected by liability against right questions and heads off
to reconstruct documentation the business. I cannot stress any problems before they arise. Most
based upon recollection. This more, about the importance of of all, he leads from a genuine
does not mean we are back dating corporate formalities. passion for helping companies
documents. Back dating is 100% succeed, specifically to be in full
illegal, however, reconstruction is Don’t freak out! There is a solution! compliance and stay on top of
fully admissible. My firm Controllers, Ltd, can complex legalities at every step.
help you reconstruct the Minutes
With all that being said, the & Resolutions to bring your Instilled with these insights
definition of a Corporation/LLC is: company back into compliance, and understandings, he and
it’s an artificial person created by with our Interactive Business his business partner founded
law. It can do anything you want Guide® platform. Controllers, Ltd. which is a CFO &
it to do but think and speak for Strategic Planning firm in Reno,
itself. This means that you, the Give us a call today at 866-786- Nevada.
Shareholder, must keep Minutes 3462 or send us an email to:
& Resolutions which is essentially contact@controllersltd.com. We
giving the company the voice look forward to speaking with
and thought process, not only to you!
defend itself, but also to defend
its owners. Minutes & Resolutions
are required by law. Now, I know Over the last 22 years, Scott
a lot of people will tell you that L. Arden, was the Senior Asset
an LLC does not have to have Protection & Estate Planning
Minutes or Resolutions. Specialist with a leading national
asset protection firm. He has
This is absolutely incorrect! advised thousands of business
Minutes & Resolutions are what owners, sole proprietors, and
proves that you and the company investors directly, one-on-one.
are complete separate. If anyone
tells you this about an LLC, they He has also been able to help tens
are misinforming you. Should of thousands of business owners
the company ever be challenged as a speaker and coach at many
in a lawsuit, audit, contract business development & real

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