Is It Best To Meet With An Attorney Annually

L

LawyerWantToBe

New Member
Jurisdiction
North Carolina
Hello,

Thank you for this excellent forum and website. It is a true service for all.

I have been running an electrical company since 1991 and have visited with an attorney annually since we incorporated in 1996. I am wondering if someone would please advise me as to whether or not it is a good idea to visit with an attorney annually in order to let him/her file my paperwork with the secretary of state and conduct my wife and I's minutes for us or should I just do this myself and save the money? Everything jumped up pricewise this year and I am just trying to save a little bit of money but not at the expense of being legally esposed.

Thank you and enjoy the day....
 
Can't imagine why you haven't thought about this years ago. You have copies of everything the attorney did every year. Just follow the same formats and do it yourself. Your state's corp commission or Scty of State website should have instructions and forms.

You can do the same for your taxes if you have been hiring a tax man every year. Look at your tax returns for the last few years. Same forms every year, right? Just different dollar amounts. You already have the format. Forms and instructions get downloaded from the IRS website.
 
adjusterjack said:
Can't imagine why you haven't thought about this years ago. You have copies of everything the attorney did every year. Just follow the same formats and do it yourself. Your state's corp commission or Scty of State website should have instructions and forms.

You can do the same for your taxes if you have been hiring a tax man every year. Look at your tax returns for the last few years. Same forms every year, right? Just different dollar amounts. You already have the format. Forms and instructions get downloaded from the IRS website.
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Thanks for the help.
I was told that it was best to let an attorney handle this in order to ensure there are no hiccups.

About the taxes, I thought that small businesses that did their own taxes was a red flag to the IRS.
 
LawyerWantToBe said:
I was told that it was best to let an attorney handle this in order to ensure there are no hiccups.
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No hiccups when it's the same thing every year.

LawyerWantToBe said:
About the taxes, I thought that small businesses that did their own taxes was a red flag to the IRS.
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Not at all. And if you get audited, so what. As long as you keep the proper records that you've always kept, you're fine.

I've done my own since my first rental. I hired a tax guy for the first year then followed the formats for the next 20 years that I had rentals. Got audited once. Brought all my carefully kept and sorted records. Got a no change result. Never got audited again. Even had my own business for a few years. Just read all the business tax instruction booklets, no problem.

If you're spending $500 to $1000 on each, it's probably time for DIY.
 
LawyerWantToBe said:
I have been running an electrical company since 1991 and have visited with an attorney annually since we incorporated in 1996. I am wondering if someone would please advise me as to whether or not it is a good idea to visit with an attorney annually in order to let him/her file my paperwork with the secretary of state and conduct my wife and I's minutes for us or should I just do this myself and save the money?
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"My wife and I's"??

There's no way for anyone here to answer your question intelligently. We know nothing about you or you competencies or legal needs. If you've been using the same attorney for a quarter century and no longer want to pay whatever modest (presumably) amount he/she charges you, then why not have a frank discussion with the lawyer about that?

LawyerWantToBe said:
I thought that small businesses that did their own taxes was a red flag to the IRS.
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I'd be shocked if that were the case.
 

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