TAKING CARE OF YOUR CORPORATION

Well, "Just like a newborn baby, Corporations must be taken cared of"
We tell our clients that certain Corporate formalities (paperwork)
are required after the corporation has been formed. There are only
a few of them but more than the paperwork, taxplanning work is also
critical for corporations. Take note that you are no longer a sole-
proprietor of your business. Perhaps more people are with you
in your business now as a corporation. Also, you are no longer
personally liable to business debts but your corporation. It is your
"shield". But this shield can be broken, making you and the corporate
officers personally liable. That happens when your corporate formalities
are not done well regularly and every year. There are also penalties
for not complying with the corporate formalities as well as tax penalties
for not filing tax returns every year in California, eventhough you
have no business activity or a loss. Let us help you.