With the holidays fast approaching, our thoughts turn to “end of the year” business activities – particularly the financial reports that are due for the upcoming tax season. 

A little panic sets in wondering if we kept every receipt, tracked all our expenses in QuickBooks, and if we took advantage of the many deductions available to us as business owners.

 Here are 3 simple tips for lowering your taxes during the holidays:

1. Turn your road trip into a tax deduction: Schedule to meet with a client or a vendor on your way to the in-laws, and the mileage to the meeting (and back) is tax deductible! (Doesn’t the client deserve a nice holiday gift anyway?) Now you can truly laugh at your father-in-law’s corny jokes because you know the trip was partly paid for by the IRS!

2. Get the gift of tax deductions: Did you know that home office furniture is tax deductible even if you don’t take the home office deduction? So take advantage of the holiday sales and buy that new desk you’ve been eyeing for an extra 20-35% off! (Depending on your tax rate.) Talk about hitting the jack pot!

3. Getting your records in order will save you money: To do this we found a product created by one of our favorite tax experts, Sandy Botkin (a former IRS trainer, CPA and Tax Attorney), that we love because it has solved our Holiday Financial Panic and made taking tax deductions so easy. Taxbot is an amazing digital tax tracker that automatically tracks business mileage with a GPS Mileage Tracker, records expenses and intuitively makes them IRS compliant. It even has a built-in receipt scanner! It even syncs to a secure web portal that offers detailed integrated reports and expert tax training and tips. They really thought of everything!

This holiday season you, too, can take the stress out of tax planning with this ingenious app! 

Get your free 2-week Taxbot trial right here!

Want even more tips and tricks to get the most tax deductions possible as a business owner? Join us for a live webinar from Sandy Botkin on December 15 from 10-11 a.m. PST.

Click here to reserve your spot for “5 Strategies To Maximize Your Tax Deductions And Stay Out Of Trouble With The IRS!”

*Thank you to Sandy Botkin and the team at The Tax Reduction Institute for providing these helpful tips. 

“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!

Carson City, NV—CEO SPACE, the largest entrepreneur support program in the world, has exclusively endorsed Laughlin Associates as the premier incorporation services provider for small business owners looking to form an LLC or Corporation.

 Says CEO Space Founder Berny Dohrmann, “CEO SPACE has created what we call Trade Show 3.0. This revolutionary model of cooperative capitalism ensures that the diverse needs of our members are constantly being met. The 5 times per year CEO Space forums bring together hundreds of business owners, angel investors, and corporate leaders in a community of support with a focus on hyper-growth opportunities  There is no selling, just sharing, and potential clients can decide if the math makes money sense for their business.”

Many Laughlin clients have benefited from CEO SPACE affiliation for years but with this alliance they now formally endorse Laughlin Associates as their exclusive incorporating recommendation for their 80,000 members nationwide. Laughlin offers Corporation and LLC formation in all 50 states in the U.S.

Aaron Young, Laughlin Associates’ CEO, is particularly encouraged about the CEO SPACE endorsement, “Our two teams have now become one family and we love supporting one another’s customers with a kind of sacred regard for entrepreneurs.”

Young will now participate on the prestigious CEO SPACE faculty board, where he will teach along-side the likes of Les Brown, Bob Proctor, T. Harv Eker and other well-known professional speakers and business coachs specializing in the “Law of Attraction.”

Young further explained how the affiliation between CEO Space and Laughlin Associates is such a natural fit for small business owners looking to accelerate their wealth and success.

“We know how hard it is to run a small business. I’ve been there. I live this every day. At Laughlin, we help remove the burdens associated with running a business. Our goal is to help you speed things up and help you make a lot of money faster. We believe the affiliation with CEO SPACE is a recession buster for all of our customers. Our clients can prosper in the double dip and we plan to make sure they do,” Young concluded.

The partnership between Laughlin Associates and CEO SPACE will provide clients with the opportunity to reclaim some tax dollars, substantially upgrade their business skills, improve their business plans, open new markets, get new customers, infuse capital into their businesses, develop upgraded branding strategies, and resolve challenges while saving oceans of time and money.

Young believes the materials and training resources found at CEO SPACE to be one of a kind. “The solutions provided at CEO SPACE are truly off the charts from anything small business owners have previously seen.

He continued on to say, “If you want to make more money faster, I can’t recommend CEO SPACE enough. My request to clients is that they explore CEO SPACE as a hyper-growth opportunity – just dip your toe in the water and see if you are not delighted with the help and support you discover from this affiliation. I am really excited about this alliance. Now we can do even more to benefit the clients we cherish so much.”

 For more information regarding the partnership between Laughlin Associates and CEO SPACE contact Shannon John, Marketing Manager, at 1-800-648-0966 or sjohn@laughlinusa.com. All media inquiries welcome.

One of the great pleasures of my job is getting to meet fascinating people who are doing fascinating things and to listen to their stories. I love it when those stories include efforts to help of small businesses succeed. One such company that is making a difference is An Empowered Woman (AEW). They have recently set-up a foundation specifically aimed at helping women who want to launch a company but may have challenges that make it especially difficult.  

I had the privilege of visiting with the Desiree Doubrox, CEO of An Empowered Woman, yesterday in anticipation of their “Dream Catcher” event that will serve as the official launch of the foundation (and in which Laughlin Associates will participate). The work that  AEW does to help women fulfill their dreams of owning their own business is truly remarkable. I encourage you to take a look at their web site (www.anempoweredwoman.com) and let women everywhere know about this terrific resource.

Click on the microphone to listen to the interview.

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.