Is Your Company an LLC? MEET WITH YOURSELF!

Hey!! Here's an interesting tip that I didn't know........

If you are an LLC you must, must, must make sure that you separate your personal from the business!! Uh, Duh Dorethia we knew that!! .....Okay....you knew you had to have an Operating Agreement and a separate bank account....but did you know that even if you have a single member LLC you also had to have regular meetings.....WITH YOURSELF!! Yes, with yourself. These meetings must be on the calendar, scheduled and you must outline what you 'discussed'.

I was at a thing, talking to a guy and he was telling me about 2 cases in which the LLC owners were personally held liable in lawsuits based on this one criteria. I believe they were in the Metro Detroit area, can't remember but I will try to find the cases soon to post as well.

In all the research you do, you will probably never find this little tid bit of info....well at least I didn't...anyway...get to scheduling those meetings...WITH YOURSELF!! Mine starts in about 20 minutes....ha ha.