Business owners are not into doing paperwork.  They never have been.  They never will be.

No one goes into business to do paperwork!

The legal codes and statutes in most states require that a corporation do a certain amount of paperwork, part of which needs to be filed annually.  The rest needs to be kept in the corporate book.

If you read our <link>advice page</link>, you will remember that both, the Attorney and the CPA, gave as a major reason for not doing a corporation– there was too much paperwork to do!

To a degree, they were right.  But they don’t seem to care about the whole truth; they are satisfied to dispense half-truths.  A client once told us that “A half-truth is the worst kind of lie!!”

One of the reasons, that this is a half-truth–  GOOD BUSINESS PRACTICE demands that any business, including corporations, generate and preserve far more paperwork than the law requires. Most states also require annual filings from partnerships and LLCs.  So there you have half-truth from your professional advisers.

That’s right, each and every business must create documents, documents, documents (PAPERWORK!)–  if they want to survive.

Why??

Let’s see if we can find a good reason!!!

The law partially defines a corporation as an “artificial person“.  Having neither a decision-making mind nor a memory. That is why corporations have to generate significant additional paperwork.  They must record all important decisions that the corporation makes.  This paperwork must be kept in the corporate book, which becomes the corporation’s official memory.

What are the most common situations in which a corporation must produce it’s official memory?

You knew the answer to this question, and you were right, if your answer was: LAWSUITS and AUDITS.  If you knew the answer to the question above, you also knew that the “written memory” (resolutions, memorandums of understanding, notes, letters and emails) has far more credibility in court than simple conversation.

When a Corporation goes to court or audit, their pile of written documents certainly outweighs the other-side’s allegations and speculations.  There is SAFETY in the written word.

WOW!!!

PAPERWORK CAN BE A REALLY GOOD THING for all businesses.  Regardless of what the professional advisers fail to address, proper paperwork can save your business.  Proper paperwork refutes allegations. Proper paperwork is relied on as the truth.

When the small business owner, who’s avoided paperwork, goes to court (or audit), what happens?

You probably know the answer to this question, too.

When a guy with a summons shows up, it’s natural to feel intimidated.  You may not sleep well.  How do you explain it to the spouse and the family?  Is this ‘the one’ that’s going to wipe you out???

You’ll be surprised at how fast that intimidation goes away when you know your paperwork is in order.

What are you thinking right now?  Is it time to call us yet?

Yes, you’re right again!!

The OWE LESS TAX system will show you how doable, less-miserably and efficiently paperwork can be done by the business owner who’s previously been too busy to get anything done to protect the business.  You’ll quickly see, what proper paperwork consists of, how to do it and even how to get creative.

If your professional adviser failed (or refused)  to tell you the whole truth, drop your adviser (or drop using their advice) and get informed!!!

Stop deluding yourself– paperwork has to be done!  The OWE LESS TAX system will show you the easiest and best way.