Corporations, nonprofits and partnerships generally have annual meetings, and the presence of their accounting and tax practitioners there can be beneficial. Agenda items may include election of officers and directors; decisions concerning distributions, officer compensation and retirement plan contributions; review and approval of loans to shareholders; and ratification of key management decisions made during the year.
CPA input can be beneficial in the consideration of certain agenda items and to properly document various decisions that have tax implications so they are part of the corporation’s tax records. Live attendance is preferable to encourage questions and provide documented confirmation concerning tax planning.
However, you should keep certain caveats in mind when you attend these meetings.