#598 Hold Your Family Board Meeting by Year-End!

10 snips

Oct 24, 2025

Discover the transformative power of holding a Family Board Meeting before year-end! Dive into key strategies for compliance, asset protection, and financial education for your family. Learn how to document minutes to safeguard against audits and lawsuits, while maximizing tax deductions on meeting expenses. Explore ways to engage your spouse and kids in the business, fostering unity and teaching them valuable wealth principles. This meeting isn’t just about business; it’s about creating a legacy and ensuring continuity for future generations.

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ADVICE

Do An Annual Family Board Meeting

Hold an annual family board meeting to document business decisions and comply with corporate formalities.
Put the minutes in your corporate book to maintain separation between you and the business.

INSIGHT

Minutes Are Often Requested

Lenders, auditors, and litigants commonly request minutes even from LLCs despite state silence.
Having minutes ready proves formal governance and avoids surprises during audits or loan applications.

ADVICE

Write Off The Meeting Costs

Treat the family board meeting as a legitimate business expense and document travel, lodging, and meals.
Hold it annually and claim the event as tax-deductible when legitimately conducted.

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In this episode of the Main Street Business Podcast, Mark J. Kohler and Mat Sorensen break down why every small business owner should hold their annual Family Board Meeting before the end of the year. This powerful meeting isn’t just a formality — it’s a proven strategy to strengthen your business, protect your assets, and educate your family about wealth and responsibility.

You’ll learn how to make your Family Board Meeting IRS-compliant, maximize write-offs, document your decisions properly, and create a legacy plan that keeps your business and family aligned for years to come. Mark and Mat share real examples, step-by-step guidance, and practical insights to help you get it done right before December 31st.

Don’t wait until tax season to get organized — plan your Family Board Meeting now and take control of your financial future!

You’ll learn:

How to structure and hold your Family Board Meeting before year-end to stay compliant and maximize tax benefits
The 7 key reasons every business owner needs an annual Family Board Meeting — from asset protection to financial education
How to properly document your meeting minutes so your business stays audit-proof with the IRS
Smart ways to include your spouse and kids in your business legally — and teach them real-world wealth principles
What expenses you can write off when holding your Family Board Meeting, including travel and meeting costs
How this meeting supports your business continuity plan and legacy goals for future generations
Simple steps to get your Family Board Meeting done before December 31st — and set your business up for long-term success

Get a comprehensive tax consultation with one of our Main Street tax lawyers that can build a tax strategy plan with an affordable consultation that will leave you speechless!!

Here’s the link - https://kkoslawyers.com/services/comprehensive-bus-tax-consult/?utm_source=buzzsprout&utm_medium=description-link&utm_campaign=main-street-business-podcast&utm_content=msbp598-family-board-meeting-by-year-end

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