“The critical ingredient is getting off your butt and doing something. It’s as simple as that. A lot of people have ideas, but there are few who decide to do something about them now. Not tomorrow. Not next week. But today. The true entrepreneur is a doer, not a dreamer.”

– Nolan Bushnell, Founder of Atari and Chuck E. Cheese’s

I’ve found throughout  my career at Laughlin that upon telling people what type of company I work for, they often respond with, “Oh, that’s cool. I would love to own my own business, but…” and the sentence usually trails off into something along these lines:

“I just couldn’t stand not knowing what I kind of money I would make.”
“I can’t justify the risk.”
“My job has too much security to let it all go.”
“My idea really isn’t that good anyway.”
“How could I sleep at night knowing it wasn’t a surefire thing?”

I’d like to say I disagree with these types of responses and could brazenly reply, “Believe in yourself! Reach your dreams! Anything is possible!” However, several facts come into play at this point.

1. I don’t own a business.
2. I work for someone else.
3. I, too, am guilty of doubting my own ideas.
4. Sometimes the risk just doesn’t seem worth it.

While I am still young, and theoretically have a lot of time to ponder what career path, and job would best suit me, I believe I am in good company when it comes to the self-doubt and hesitation most of us feel when considering being our own boss.

Yet, facing the economic struggles out there right now, what’s the alternative? Job creation is at a near all-time low and times are looking pretty bleak in most industries. Factually, starting your own business truly is the best alternative right now as far as guaranteed employment is concerned.

But why doesn’t it feel that way? I believe Nolan Bushnell said it best, “The true entrepreneur is a doer, not a dreamer.”

Bottom line, there is a difference between me and the rest of you out there blazing the trails for the worry-warts and security blanket dependants like myself. You are living proof that with an idea and some action, true success and dreams can be achieved.

I applaud the “doers” of the world out there and when I grow up, perhaps I’ll be more like all of you. For now, I dream. And hope to soon follow Bushnell’s advice and get off my butt and do something. But as of this minute, my office is just a little too cozy for me to leave…

What’s your advice to the dreamers of the world? How did you become a doer? Are you born with it? Is it learned? Who, if anyone, influenced you to take charge of your own destiny?

Drop me a line at sjohn@laughlinusa.com. Hearing from you is what I look forward to most!

The state of Nevada is one of the best states to operate a business in.  Nevada has repeatedly been voted one of the most business-friendly states by CNN.com and Kiplinger’s. The advantages for small business owners are seemingly endless when you do business in the Reno-Tahoe area; this includes various tax benefits to entrepreneurs, minimal business regulations, and inexpensive commercial real estate. 

The Greater Reno-Tahoe area offers a very competitive tax climate.  Tax advantages in Nevada include:

-          No personal state income tax

-          No inventory tax

-          No estate and/or gift tax

As far as national rankings go, The Greater Reno-Tahoe area boasts tops in many categories.  The area has been named the #1 place to do business in America by Inc. Magazine.  As well as achieving a top-rank as one of the best places to raise a family, Nevada offers one of the friendliest environments for entrepreneurs and was named among the “top 7” best states to start a business in. 

Nevada also offers a host of business incentives including sales and use tax abatement, sales and use tax deferral and personal property tax abatement as well as a grant for training new employees.

Not only is the Reno-Tahoe area a great place to run a business it’s also a great place to live.  The area is close to many recreational locations such as Lake Tahoe and some of the best white-water rafting destinations in the country.

When you incorporate in Nevada you can be assured to have the best personal asset protection in the nation.  Nevada’s corporate veil is extremely hard to pierce as shown by only having been pierced twice in the last 30 years. 

If you need help incorporating your small business or maintaining your corporate records, Laughlin Associates can help.  During these tough economic times it’s a smart idea to stop looking for job opportunities and start making your own by opening a small business.

If you’ve just started a new business venture, have been in business for years and never incorporated, or thinking about getting something off the ground, Laughlin is your trusted resource for all of your small business needs. While we incorporate in all 50 states, we have specialized in Nevada companies for nearly 40 years.  

Have questions about incorporating in Nevada? Drop me a line at 1-800-648-0966 or rrees@laughlinusa.com.

Operating your own small business can be exciting and sometimes confusing.  There are many decisions to be made in the beginning stages, including which corporate structure to operate your business from.  Whether you are just starting out with your own company or have partners you plan to work with, there are several factors you want to consider.

If you are currently operating your business as a sole proprietor or as a general partnership, you are completely exposing yourself to lawsuits and may be missing out on several tax deductions. If you have made the decision to incorporate your business, you can limit your personal liability to lawsuits and in many cases, gain considerable tax advantages.

What type of corporation is best for your company?

All Corporations are formed at the State level and are considered separate entities from their shareholders and officers. As separate entities they are able to shield their shareholders and officers from judgments against the corporation. 

What are your options when it comes to taxation of the Corporation?

Corporations may choose how its profits will be taxed.  If your goal is to take advantage of all the pre-tax expenses allowed by the IRS through employee benefit packages, etc, the Corporation will pay its officers and employees a wage and any remaining profits will be taxed at the corporate level (commonly called a “C” corporation). After the profits have been taxed and if the Board of Directors decide to issue a dividend to the shareholders, that dividend will be reported on the shareholder’s tax return as income. This is an example of “double taxation”.

Shareholders may choose “Subchapter S” with the IRS for their Corporation as a way to avoid double taxation.  Simply put, the taxation on the corporation’s profits are not taxed at the corporate level but are “passed through” to the individual shareholders per their percentage of ownership and reflected on the shareholder’s personal tax return. The downside to the “S” Corporation is they are not allowed as many pre-tax deductions when the employee/officer is also a shareholder. Also, there are restrictions on who may be a shareholder and how many may own the stock of the “S” Corporation. 

There are key differences between the two types of taxation the Corporation may elect.  If you aren’t sure how to proceed or are unclear about which structure is best for you, please give me a call and I’ll help you decide the best plan of attack for your particular company.

At Laughlin Associates we provide a customized 1-on-1 approach to help you set up your business with the proper corporate structure.  It is important to Laughlin Associates that we provide you with personalized service through every step of the process.  If you have questions about choosing the right entity for your business drop me a line at mstein@laughlinusa.com or 1-800-648-0966 and ask for me, Mike Stein.

A few days ago our CEO, Aaron Young, had a great opportunity to speak with fellow entrepreneur and business owner, Pat Lynch, of WomensRadio.com. Pat is the host of “Speak Up,” a radio show that hosts a wide range of speakers and topics, providing insight into today’s economic issues, business leadership techniques, and how to better manage your business ventures.

Aaron and Pat spoke on a number of topics during the interview, but most importantly the value of incorporating your business as a small business owner. In today’s economic climate, it is more important than ever to protect yourself, your assets, and the mounting liabilities that today’s small businesses face.

Learn more by listening to the interview here.

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Incorporating in Nevada – What You Need to Know

There are many benefits and advantages to incorporating in Nevada that make it a very popular choice for many businesses and business owners. Among the most popular of the advantages are all the levels of privacy that a business or corporation receives upon being incorporated within the state of Nevada. For high-profile figures such as celebrities and well-known business owners, this privacy is a major reason that many of them actually go to Nevada just to incorporate their business. The state laws of Nevada allow businesses much more privacy in their operations and shareholder information that you likely won’t find anywhere else.

Incorporating in Nevada also has the advantage of lowering the taxes that people have to pay. There is no corporate tax, no tax on corporate shares, no franchise taxes, and no personal income taxes. All this lack of taxes is another reason that many people enjoy incorporating in Nevada rather than in other states. The incorporation process is fairly simple, as long as you take the time to learn what is expected and required of you by the Secretary of State, and learn about the different paperwork that needs to be filed and procedures that your business needs to follow in the incorporation process.

Incorporating in Nevada is a very popular topic for many people, mostly due in part to all the advantages of becoming a Nevada Corporation. There are very few actual disadvantages to incorporating a business in the state of Nevada, which is why so many companies operate out of the state even if it’s not where they were from in the first place. There are a couple of other states that have incorporation laws and policies similar to that of Nevada’s, but for the most part, Nevada stands alone in offering such promising rewards for those who incorporated business.

Keep in mind that incorporating in Nevada is a completely flawless and perfect plan. Although it affords many tax breaks, extra privacies, and asset protection for your personal assets, it might not be the right choice for everyone. You need to check out the type of available corporations that you can choose from when incorporating in Nevada to determine which, if any, are right for you. If you’re not sure what to choose or how to incorporate your business, you should consult a professional service that can help you along the way. With all the resources out there, it shouldn’t be hard to find the help that you need.