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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Q: I’m looking to start a new mobile auto detailing business. My biggest concern is protecting my business, particularly from employee theft. What can I do in my hiring procedures? Effective hiring procedures are important for every employer; however, since you will have employees taking company assets off premise, handling customer cash payments, working on…

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Do_I_Need_A_Separate_Business_Bank_Account

Question: Medicare and other insurance take direct deposits into my account. Is it better to use a different bank for business and personal so as to limit any errors or confusion? Should I open two accounts: one for direct deposit from the insurance companies and another to pay bills? Regardless of the business structure (sole…

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If you don’t ever take any risks, you won’t get anywhere. But you also can’t take too many risks, acting too rashly. Every small business owner needs to take a smart approach to taking risks, balancing the potential benefits with the potential costs, both of taking action and not taking action. By building a thorough…

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Certain industries experience common workers’ compensation claims. Knowing these common claims in your industry is the first step to taking active steps to improve safety and reduce risks for your employees. Read this article, and the other articles in our series on workers’ compensation insurance, for a better understanding of some of the most common…

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The last thing you want is for your business to make headlines for unethical behavior. Take proactive, preventative steps to keep everything above board and above reproach. Our blog team takes a look at some warning signs of possible ethical violations, and positive steps you can take to stop or prevent these problems, including harassment,…

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Many business owners avoid debt like the plague. Ami Kassar, author of The Growth Dilemma, refers to it as the no-debt badge of honor. And avoiding debt has its benefits, but it also has its downsides, and you should take your time to think through any decision you make about financing your business. I recently…

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Has this ever happened to you? You walk into your local bank branch looking for a small business loan, and you’re told that you’re not eligible for an SBA loan. Does that mean you’re not qualified to get an SBA loan at all? Absolutely not! Ami Kassar, author of The Growth Dilemma, talks about the…

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What_Is_The_Taxpayer_Advocate_Service

Are you worried about compliance issues? Many small businesses overlook compliance, but it’s a vital step to protecting your business, with proactive steps that avoid problems down the road. The key fundamentals for small business compliance include the implementation of an employee handbook, cybersecurity, and securing reliable service providers. Experienced professionals can be a huge…

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