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What I learned from IRS audit

Date: 09/21/2007 | Category: QuickBooks | Author: John Vanhara

I just went through IRS audit. There are couple of things I learned.

1. Keeping corporate records about shareholder and directors meeting is very important. Also keeping corporate minutes from all important decisions by board of directors and shareholders. It doesn’t matter if you have one man company. You still have to do meetings and keep the minutes. If you don’t know how we can help you. See our full service for preparing corporate minutes for $20-$25.

2. When taking personal loan to shareholders/officers from your company do not forget to charge interest rate.

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