Set Up your Annual Business Physical Now
Much like getting an annual physical to ensure good health, it is critically important to do an annual check-up for your business. Whether a single-member LLC that merely owns real estate or a professional business, there are a few things that should be done each year to reduce liability, protect one’s personal assets, and to ensure the good health of your business. Have you held your annual meeting? Do you have an operating agreement – even if a single-member LLC? Has it been updated for changes in case law or statute to protect your personal assets and that of the business? As 2021 begins to wind down, now is the time to make sure your business is in good health.