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What are the risks of not keeping records? [To Top] |
| It's easy to procrastinate on this. But the fact is, keeping records is one of the requirements of doing business. We can skate by for years, ignoring the rules, and then out of the blue get slapped with a summons or an IRS field audit. Then we're stuck trying to prove that the corporation is real, with nothing in writing to prove it. At this point, you run a 50% to 96% chance of losing all the benefits and protections of the corporate veil. If you lose a judgment, the courts can step in and seize your personal assets as well as those of your shareholders |
Why should I trust your service? [To Top] |
| We want you to be 100% convinced that the documents we produce will pass muster in a court of law. So we have shown our service to prominent legal professionals and business experts, and asked for their feedback, as well as their endorsement. Visit our testimonial page for just a few of the well-known people who have reviewed QuickRecords from MyCompanyRecords, found it valuable, and put it to use in their own businesses. |
Are your forms approved for my State? [To Top] |
| MyCompanyRecords does not do anything you could not do for yourself. The difference is, we have years of experience, the people and the patent-pending technology to do it better and faster. Every legal form in our database has been reviewed by an accredited attorney and certified. To see a few of the hundreds of required forms, CLICK HERE |
Is my corporate data safe with you? [To Top] |
| The security of your information is our highest priority. We use SSL technology and Verisign to protect your privacy. We save only basic corporate data used to generate records. |
Why not just buy a book of corporate forms? [To Top] |
| If you enjoy pouring over fine print and filling out forms, then the books and software of standard forms are perfect for you. But for about the same price, you can have a service that takes all the drudgery and guesswork out of compliance. Our automated solution asks you to check a couple of boxes, answer a couple of questions, and automatically completes all the forms for you. |
I'm so far behind, how can I ever catch up? [To Top] |
| Even if you are years behind, you can easily catch up. In just 30 minutes, you can erase years of non-compliance and put your records in order. If you procrastinate and wait until you get that letter announcing a lawsuit against your company or an IRS field visit, it may be too late. Your personal assets will be completely exposed. Why risk it, when you can move into full compliance in about 30 minutes and at less cost than a single lawyer's visit? |
I'm the sole shareholder of a family corporation - do I need this? [To Top] |
| You need it the most. The risk of losing your corporate protection because the IRS or some attorney was able to pierce the corporate veil is greater for you than it is for a large company with many corporate transactions. Without rigorous record keeping, the odds are high that your company will fail the "alter ego doctrine" in which case you lose all liability protection and tax benefits. |
I have an LLC — do the same laws apply to me? [To Top] |
| Even though LLCs have distinct legal status, in the area of compliance most State courts today apply "C Corp" and "S Corp" rules to "LLCs". And there is legal precedent for holding the owner of an LLC personally liable for company errors and omissions. So it's better to be safe, not sorry. Given that we've automated the entire process at a low price, there is no reason to risk being on the wrong side of law. |
I have a Nevada corporation - don't I have extra protection? [To Top] |
| Be wary of claims that Nevada corps can't be pierced. It has happened thousands of times, as every Nevada litigator knows. The fact is, a huge business has grown up around the marketing and servicing of Nevada corps. There is a tendency for some promoters to "oversell" the benefits. Again, it's not worth tempting fate...when the solution is so fast, easy, and affordable. |
How do courts decide to pierce the corporate veil? [To Top] |
The factors vary from circuit to circuit, state to state, judge to judge. But the factors that weigh the heaviest against you are:
- Whether the corporation follows formalities
- Whether corporate records have been kept
- Whether shareholders are using corporation cash for personal
use
- Whether officers and directors have regular functioning
involvement
- Whether business and personal funds have been co-mingled
- Whether the company is adequately capitalize
Legally, a corporation exists only on paper, through the "formalities" of charters and records. Written resolutions, consents, and minutes create the only "proof" that the company is legitimate, and that it deserves all the corporate privileges granted by law. |
Is this service vital for when I'm raising money for my business? [To Top] |
| Your corporate record book is the foundation of the due diligence anyone will do before investing in your business. Investors don't like unnecessary risk. If they find your most basic records disorganized or incomplete, they may question other things you've said or represented. It's not worth the risk. There is no reason to lose an investor over such a low-cost, easy-to-use service! |
Is this service vital for when I sell my corporation? [To Top] |
| Selling a business that is non-compliant is like selling a car with bald tires, a cracked windshield and no service records. You could be liable, and you could lose thousands of dollars in value. In negotiations, the buyer will convert your corporate deficiencies into a lower sales price, assuming it doesn't kill the deal altogether. |
Is this service vital if friends or family are Board members? [To Top] |
| If you have friends and family on your Board or as Shareholders, they are depending on you to run your business legally. You may have signed an agreement this year that exposes your family members to liability through a legal action, and you don't even know it. Even if you haven't, a basic sense of fairness demands that you protect them to the extent possible. |
Is this a good reason to finally incorporate, if I've been putting it off? [To Top] |
| A lot of people who should incorporate choose not to largely because they don't want the hassle of "doing the paperwork." Others wish they'd never incorporated for the same reason. MyCompanyRecords is ideal for both. It takes away all the hassles, all the frustration...leaving you to run your business and make money. |
How will economic recession impact my corporation? [To Top] |
| In difficult times, we see worst-case scenarios playing out: loss of major customers, loss of banking credit lines, meltdown of company value, increased legal activity against "deep pockets." So as an added insurance policy, every corporation should be recession-proof. That means protecting against potential creditors. This service makes it easy. |
What kind of computer and modem is required? [To Top] |
| Our service works on any modem hookup to the internet and email, and on any computer with at least a Microsoft Explorer 4.0 or Netscape Navigator 4.0 browser, as well as Adobe Acrobat Reader or Microsoft Word for reading, revising and printing forms. |
What kind of customer service support do I receive? [To Top] |
| We have live operators available from 9-5, Monday through Friday. But Frankly, our Customer service people are as lonely as the Maytag repairman. Our service is so easy to use, we don't get many calls. Nonetheless, should you need us, our Customer Service number is 877.270.7751. |
What if my spam filter deleted my welcome email? [To Top] |
| Don't worry. Go to Customer Login. Read and follow the instructions under "Member Login". It says: Thank you for visiting us again. Having trouble remembering your username or password? Click Here to retrieve your acount information to the email address you provided in your Corporate Profile. Please add "@mycompanyrecords.com" to your "whitelist" or safe senders list. |
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