Why Client Board Meetings Matter

For the practitioner who serves small to midsize clients, it is almost always worthwhile to be a part of board or partnership meetings.



The board of directors of a corporation should meet annually, if not more frequently. Partnership agreements, too, commonly require an annual meeting (at minimum). Agenda items for these meetings may include election of officers and directors, decisions concerning distributions, officer compensation, retirement plan contributions, review and approval of loans to shareholders, and ratification of key management decisions made during the year.

There is a role for the CPA to play concerning the plans for certain agenda items the board may be considering and to properly document various decisions that have tax implications so they are part of the corporation’s tax records. Live attendance is encouraged, as your availability can only encourage questions and provide documented confirmation concerning tax planning.

There are, however, a few important caveats that should be kept in mind by the practitioner in attendance.

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Source: Accounting Web

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