The Corporate Veil
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Transcript The Corporate Veil
Protecting Your
Corporate Veil
What Do All Business Entities Have In Common?
Corporation
Limited Liability Company
Limited Partnership
All business entities must follow
“Corporate Formalities”
IT’S THE LAW!
What Are Corporate Formalities?
Meetings
Stock Ledgers
Resolutions
Stock Issuance
Minutes
Acceptance
Approvals
Amendments
Who Requires Corporate Formalities?
Federal and State Law
Banks-Loans
Shareholders/Members
The IRS-Audit Request
Actions That Need To
Be Documented
Employment Agreements
Officer’s Salaries
Equipment Purchase/Lease
Property Purchase
Cars
Issuance of Dividends
Actions That Need To Be Documented
Retirement Plans
Medical Plans
Selling Shares
Loans
Fringe Benefits
Bonuses
“ If you've failed to keep proper corporate
records and if you are ever sued - you
have a 50-94% chance of losing your
personal assets in order to satisfy a
judgment.
Cornell Law Review
”
Failure to maintain Corporate
Formalities can lead to:
• Your corporate charter being revoked.
• Paying tax penalties on disallowed
deductions.
• Shareholders becoming personally liable
for the corporation’s activities/debts.
• Allowing a creditor, the IRS or attorneys to
pierce the corporate veil seize your
personal assets.
Why The Compass Group?
Over the last 37 years, we have assisted over 77,000
companies with getting and keeping their companies in
compliance.
• Secure Your Corporate Veil
• Stronger Asset Protection
• We Do The Paperwork So You Can Run
Your Business
• Answers Your Questions
• Keep Your Company Current
• Keep Your Company In Compliance
• Cost Effective
Closely held corporations have
the greatest risk of having their
Corporate Veil Pierced
• They tend to treat their business like a
sole proprietorship.
• They don’t document business decisions
• They co-mingle funds and assets
• They don’t know what documents they
must maintain to stay in compliance…so
they do nothing.
the Corporate Veil has become
“ Piercing
the most litigated issue in corporate law
today. In every case the plaintiff’s intent is
to acquire not only the company’s assets,
but the owners personal assets as well.
Wake Forest Law Review
”
The Compass Group Provides
Minutes
Resolutions
Filings
Amendments
Meetings
Notifications
Complete Corporate Veil
Protection Service
•
Corporate Status Review with your personal corporate coach.
•
Unlimited Custom Corporate Documents including minutes, resolutions
and amendments.
•
Customized Corporate Benefit Kit- includes a priceless library of
resources.
•
Ongoing Maintenance of Your Corporate Records.
•
Subscription to “The Corporate Veil” monthly
e-newsletter. Receive updates of current
compliance requirements, business tips and
strategies.
•
12 month Customized Calendar of recommended documents.
•
Ongoing Webinars- access 24/7 sessions on tax deductions, strategies
and eye opening business tips.
•
Unlimited Access To Your Personal Corporate coach by phone or e-mail.
$125,000 Corporate
Compliance Guarantee.
We will guarantee
the integrity of
your Corporate
Veil up to
$125,000.
The Time is Now!
The Complete
Corporate Veil
Protection Service
Protects Your Wealth,
Business and Personal
Assets from Attack
Get Started Now!
1. Contact our office for more details at 775-828-7111, or email your
request to subscribe to [email protected]
2. We will bill your company (current clients - $475; all others $795),
which includes updating your company’s corporate records from
inception (an $1,000-$5000 value).
3. Your Compass Corporate Coach will contact you within 24 hours.
4. Together you and the Coach will set an appointment to begin the
interview process. Your Coach will be there to help you every step of
the way
5. Your records will be brought current and a game plan will be
organized to keep you current and going forward.
Don’t Delay!