David Larsen gave a presentation on his entrepreneurial history and ended with tax tips for the end of the year.
David shared his experience founding the world’s largest manufacturer of piñatas having started with only a single flier to a local PTA in Provo, UT. He started it simply as a quick way to make some extra cash for the holidays! Though he had no idea of the potential market he later would later claim, he did select his product because he knew the product had a huge potential for improvement and that piñatas had a very high profit margin. Prior to selling the company, David’s company shipped an average of 6 semi-loads of piñatas everyday! David encouraged ELP members to continue to network and always keep their eyes open for opportunities.
David encouraged ELP members who were looking to purchase equipment to make the purchases in 2011 to capitalize on Special Bonus Depreciation. Computers, software, and other equipment can all be written 100% off because of the depreciation rules enacted with the extended “Bush Era Tax Cuts.” David briefly reviewed the tax ramifications of business entities and counseled ELP members to keep track of their personal expenditures and use of personal assets.
