{"id":82,"date":"2018-05-08T00:40:15","date_gmt":"2018-05-08T04:40:15","guid":{"rendered":"http:\/\/www.heywardcpa.com\/blog\/?p=82"},"modified":"2023-12-03T22:14:06","modified_gmt":"2023-12-04T03:14:06","slug":"as-a-corporation-you-need-to-follow-the-rules","status":"publish","type":"post","link":"https:\/\/www.heywardcpa.com\/blog\/2018\/05\/08\/as-a-corporation-you-need-to-follow-the-rules\/","title":{"rendered":"If you run a Corporation – You Need to Follow these Rules!"},"content":{"rendered":"

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When you started your business, you may have formed a corporation to protect your personal assets from lawsuits against your company. However, you must also operate your business like a corporation — or risk losing the liability protection you expect to have.<\/p>\n

No matter how long you\u2019ve been in business, always treat your corporation as a separate legal entity. The corporation\u2019s name should appear on company letterhead, checks, and invoices. Contracts should be made in the corporation\u2019s name, not yours or another individual\u2019s.<\/p>\n

Avoid mixing your personal affairs and your corporation\u2019s business. Maintain separate bank accounts and credit cards, and keep careful records of corporate transactions. File tax returns and pay any corporate taxes due on time.<\/p>\n

Meet and Document<\/strong><\/p>\n

Hold shareholder and director meetings according to a regular schedule and keep official minutes of those meetings. Corporate minutes provide documentation of key financial and legal decisions, such as<\/p>\n