Hair salon insurance refers to any insurance policy that salon, barbershop, and spa owners may purchase. General liability is the broadest and most common type of hair salon insurance. Beauty salon insurance costs range from $360 to $6,900 per year, depending on the policies you need. The higher number represents a smaller group with a…
Ultimate Guide
Rollover for Business Startups (ROBS): Ultimate Guide
A rollover for business startups, or a ROBS for short, is a way for a business owner to access their personal retirement funds tax- and penalty-free. Completing a ROBS can be a complex process as it requires you to navigate multiple areas of tax rules and regulations. Fortunately, ROBS providers like Guidant Financial exist not…
Common Invoice Payment Terms and Tips on Setting Them
Common invoice payment terms include Net 15, Net 60, and 2% 10 Net 30—with the most popular term being 30 days (or Net 30). Setting payment terms is an essential part of accounts receivable (A/R) management, and making terms transparent to customers by displaying them on every invoice that’s issued is an important bookkeeping task….
DUNS Number: What It Is & How to Get One
A DUNS number, short for Data Universal Numbering System, is a nine-digit number that identifies your unique business to Dun & Bradstreet (D&B). D&B is one of several major business credit bureaus, and having a DUNS number helps build a business credit profile which can not only make it easier for vendors to verify your…
Journal Entries in Accounting: A Small Business Guide
Journal entries are the fundamental building blocks of accounting. All accounting transactions start with a journal entry, the only way to record transactions in the books. Accounting journal entries are crucial in establishing a paper trail for transactions. Each journal entry must affect at least two accounts with total debits and credits balanced. In this…
Why Is Business Insurance Expensive & Still Going Up?
Here’s the scenario: You receive your small business insurance renewal notice, and your premium has increased significantly. You haven’t filed a claim in years or changed your coverage. You may wonder why business insurance is so expensive and why business insurance rates are going up. Business insurance premiums have been rising month over month for…
Bakery Insurance: Coverage, Cost & Requirements
Bakery insurance is a simple combination of policies for your bakery that, when combined, provide all of the coverage you need against claims. Claims can come in all types of forms. Whether it is an allegation of food poisoning or a power outage damaging your oven, insurance for a bakery business is an important part…
Arizona Business Insurance Guide
Arizona is home to five different climate zones, two time zones, the Navajo Nation, the Grand Canyon, and a healthy economy driven by small businesses. Small businesses are a key part of employment, taxes, and production in Arizona. Small business insurance in Arizona is an important part of the economy both in its contribution to…