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as corporate legal affairs liaison, Jack reviewed legal contracts
between petitioner and third parties.
In addition to the foregoing, Jack supervised the in-house
bookkeeper; reviewed vendor invoices; maintained inventory
records; gathered the necessary information to prepare
petitioner’s financial statements and tax returns; planned and
monitored petitioner’s cashflow; signed checks; negotiated lines
of credit, advances, and loans; and directed the investment of
petitioner’s cash reserve. Jack extensively reviewed
petitioner’s quarterly financial reports.
Jack brought enthusiasm, dedication, and energy to
petitioner. He made a point of being willing to meet every
customer at some point in the sales process. He worked 6 to 7
days per week, and often worked long into the night. He opened
and closed the business each day. If there were delinquent
accounts, then Jack went out at night and collected on them. In
petitioner’s early years, Jack worked about 70 hours per week;
during the years in issue, Jack worked about 60 hours per week.
His duties also involved frequent travel.
At all times relevant to the instant case, Mary has been
either petitioner’s vice president, secretary, or secretary-
treasurer.
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Last modified: May 25, 2011