If you are incorporated, state law usually requires you to hold an annual board meeting. Similar requirements may apply to LLCs (check your state’s law). BoardEffect has a guide on how to run a board meeting, including notice requirements, responsibilities of board members, and tips for effective meetings. Idea: If your company doesn’t already have one, include in your minutes the adoption of an accountable plan so you can reimburse employees for various expenses (e.g., home internet access) on a tax-advantaged basis. #IdeaoftheDay
Barbara Weltman
Big Ideas for Small Business, Inc.
Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."
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It's important to take care of ourselves and take steps to nourish ourselves--body, mind and soul. We may have to do this in different and creative ways now that many of us are staying at home. It's still important that we take time for ourselves. #selfcare #Health