Hi 

We're nearing the end of our formalities checklist.  The last few items are pretty straightforward but quite important for the day-to-day operation of your business. #23 is "Has your LLC adopted an expense account form for official company use that meets IRS guidelines?"

The IRS doesn't have specific guidelines on what should and should not be on an expense form, but they do want to see that whatever you are claiming was ordinary and necessary for your business.  For more information, check out my YouTube video and the accompanying article explaining more about what needs to be included and why at http://www.llcwizard.com/expense-reimbursement-forms.

Lee Phillips

P.S. The Formalities Checklist is only one small part of the entire Business Planning section of my Accumulation and Preservation of Wealth set. In celebration of recently updating the whole of it and the Benefits/Retirement Savings Planning section, until May 10th we are offering a steep discount on them both.  Use promocode "BPNow" in the Manage Cart section to get $600 off.  Please call our office at 801-802-9020 if you have any questions.