Consultant’s Corner: Home-Based Business Insurance

Question: Would our homeowner’s insurance cover the entire inventory of our home-based business, or do we need additional insurance? In our experience, it is unlikely that your existing homeowner’s insurance policy covers any of your business assets or liabilities, particularly significant amounts. You would have to speak with your homeowner’s insurance agent to determine if […]

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Consultant’s Corner: Can You Dock Pay for Salaried Employees?

Q. Are there rules for docking they pay for salaried employees if they are absent from work? Our answer assumes that you are referring to salaried employees that qualify for exempt status. There is a wide range of reasons and amount of time that an employee may be absent from work: vacation, personal time-off, illness, workers’ compensation injury, family […]

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Consultant’s Corner: Organizational Charts

Q. What is the optimal way to structure an organizational chart of business processes? Are there commonly used modern tools that I can use for this? Flow charts are still the common tool to illustrate business processes and related employee jobs in a graphical or textual view. The following are example product comparisons and explanations […]

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Consultant’s Corner: Filing for a DBA

Question: “I’m planning to set up an LLC eventually. Could I use a DBA other than my name if I haven’t reserved/trademarked the name yet?” Answer: Business Name Registration Yes, sole proprietors can use fictitious business names (assumed, Doing Business As (DBA), trade name, etc.) for their businesses without registering a business entity (LLC, corporation, […]

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