Mark Kohler explains why LLC meeting minutes matter: they protect the corporate veil and support tax strategies like accountable plans for reimbursements. Without them, you're exposed to IRS audits and lawsuits.
Minutes are paperwork. They're proof that you're respecting the corporate veil. But it doesn't have to be a pain. They document what the business is doing. You're respecting the entity by having these annual meetings and the minutes that document the meeting minutes also support tax strategies like home office mileage and travel reimbursements, medical expenses. They're called accountable plans. These are very, very important. If you're ever audited and if you're sued, oh, my word. You've got to have these minutes to show that you recognize and really respect the LLC and its corporate veil. So if you're not holding these minutes, you are exposed with the IRS or a potential lawsuit.
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