“But no one told me I had to file all these papers and keep up my corporate records or face dire consequences.”
The above is a statement I hear quite often from business owners.
Many don’t know that without the proper corporate records…
…your corporation could be dissolved and discarded…
…your “corporate veil” can be pierced like a flimsy piece of tissue…
…you and your family are fully exposed to frivolous lawsuits, with your house and savings at risk…
…you risk bankruptcy and the poor house because someone is chomping at the bit to take everything …

It is a peculiar irony. A year ago, the the UK’s Inland Revenue began a crackdown on offshore savings. Banks operating out of the Channel Islands and the Isle of Man had to hand over details of British customers, and depositors who confessed were rewarded with an amnesty. Thousands did and many must have given up on offshore savings. Inadvertently, the taxman’s crackdown must have saved some depositors from the collapse of the offshore subsidaries of Icelandic banks.
Thousands were not so lucky and could now lose most of their savings …