IRS auditors can disallow deduction of various corporate expenses, and plaintiff attorneys can “pierce the corporate veil” to hold the corporate shareholders personally liable for business liabilities, if the minute book does not contain “contemporaneous written evidence” that the expense or decision was authorized by its directors or shareholders. Please see my article Corporate Formalities: Protect Your Tax and Limited Liability Benefits for details.
Comprehensive and customized annual minutes, attorney drafted and reviewed, are available via online submission at a flat rate of $250. Current corporate clients may start the online minutes questionnaire at “Current S Corporations” or “Current C Corporations.” New clients should complete a signup form at https://trans.dental/signup/ and I’ll send you the link to the appropriate questionnaire.