Proper due diligence ensures the benefits of the business structure will be upheld if challenged from a legal or tax standpoint.

Electing to be taxed under a corporate structure requires certain formalities. As the old adage goes, if you are going to call it a duck, it had better, look, walk, and quack like a duck. The same goes for your business. Organizing and maintaining your business under a corporate structure requires the owners to exercise proper due diligence in order to ensure that the benefits of the structure will be realized and upheld if challenged from a legal or tax standpoint. In addition to filing the proper corporate documents at the onset to establish a legal structure, there are several ongoing responsibilities that must be done on a recurring basis.

This download summarizes some of the important areas where corporate due diligence must be maintained. In particular, this discussion focuses on S Corporations, although some of the items are also relevant to C Corporations and Partnerships.

Click here to download.

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Randy Juedes

I joined Hawkins Ash CPAs in 2001 and am currently partner-in-charge of the Medford, WI, office. My experience includes audits of commercial entities and employee benefit plans and individual and corporate taxation. I am chairperson of the firm’s Employee Benefit Plan Service Committee and a member of the Accounting and Audit Committee. I am the firm’s designated partner for membership in the AICPA Employee Benefit Plan Audit Quality Center.


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