WHY DO I NEED TO KEEP RECORDS FOR MY COMPANY ?
Without the proper company record keeping, as required by law:
 | Your company will be treated as no company at all and the assets, liabilities, and tax structure will be recast to your personal estate. |
| A really great attorney may be able to help your company, should problems arise, but it will probably cost you plenty when you need really quick or intensive service from him. |
| Any disputes between stockholders, directors, and or officers of your company may not be easily handled without documented meeting minutes showing the desires of the directors and/or stockholders. |
| You probably will have no protection from personal liability unless you have a viable company which has complied with all State and Federal laws |
| The IRS will treat your company as no company at all, recasting the company tax returns to your own returns and denying some of the benefits your corporation or LLC is giving to you and your employees |
| and, you can be subject to daily fines of $25.00 per day, for non - compliance, if, for example, your company was formed, in Nevada. Other states may be even greater per day penalties. Here's the Nevada law regarding penalties. |