I hope everyone had a safe and happy New Year. Now that the new year rolled around it is time to think corporate planning. As such, we are recommending that all of our corporate clients hold their annual meetings. There are many issues that every corporation faces and should be discussed at an annual meeting. First and foremost, I suspect corporate taxes are on everyone’s mind as they are due March 15. A corporate meeting is a good place to start planning how to handle your taxes. Also, principals of a closely held corporation should always be thinking about business succession planning. The corporate board meeting is the place to begin this process. Further, business owners should be planning for growth (or potential downturn), collections and expanding the business practice. All these items should be discussed at the corporate board meeting.
We suggest that our corporate clients conduct corporate board meetings, at least on an annual basis. We found that our most successful clients frequently hold corporate meetings among the principals. Ultimately, the meeting focuses the principals on attaining certain goals that are set by the principals.
In addition, we often host corporate board meetings at the request of our clients. We invite our client’s other advisors (e.g. accountants, financial planners, insurance agents) to the meeting as well as this helps the client speak with all advisors at one time. This allows the client to put together a plan at one meeting rather than having separate meetings with each different advisor.
If you are interested in having us host a corporate board meeting, please do not hesitate to contact us. We will prepare an agenda, provide a conference room and help focus the meeting to achieve your goals.