Formalities like keeping minutes and record of important business decisions. I also consulted my attorney who confirmed that the move my CPA is proposing would eliminate the need to do those kind formalities. I know it isn't a tax saving strategy; more of a time-saving strategy. I haven't kept minutes in the past, so I know that probably wouldn't keep on top of it in the future either.
And I'll have to ask about the actual resale of those items vs the transfer of them. Thanks Critter-3!
