Nanny insurance refers to policies for individuals who care for children in a residential setting and protects their assets by covering risks common to the profession. These risks all fall under general and professional liability, two of the most common policies. Nanny insurance can also refer to the policies a household should purchase for a…
Ultimate Guide
How to Use a Retail Preorder: Ultimate Small Business Guide to Boost Revenue
A retail preorder involves customers placing orders and making payments for items before their official release or availability to the general public. Commonly seen in industries like video games, electronics, books, and collectibles, a retail preorder can be an effective strategy to engage customers, drive sales, and manage inventory efficiently. We look at how preorders…
What Is the Asset Coverage Ratio: Definition and Calculation
The asset coverage ratio (ACR) is a crucial tool for understanding a company’s financial health, particularly its ability to pay short-term and long-term debt. It is a financial metric used primarily by creditors and lenders to assess the ability of a company to cover its debts by comparing total assets after current liabilities to the…
An Investor’s Guide to Understanding 1031 Exchange
The 1031 exchange is named after Section 1031 of the US Internal Revenue Code. It is a strategic avenue for real estate investors to defer capital gains taxes on exchanging certain properties. Deferring capital gains promotes real estate market fluidity and encourages investors to engage in continuous property upgrading and portfolio diversification. This 1031 exchange…
A Landlord’s Guide to Property Easements
Whether you’re a seasoned landlord or a new property owner, you may encounter a tricky issue in real estate: property easements. These legal agreements give an outside party access to the property and potentially complicate your ability to maintain full control over it. That’s why I’m here to help you navigate through it—this guide has…
Sustainable Packaging Ideas for Ecommerce Businesses
Sustainable packaging refers to the development and use of packaging solutions that have minimal environmental impact. The importance of sustainable packaging lies in its ability to reduce waste, conserve resources, and minimize pollution—making it crucial for protecting our planet and staying competitive in the current ecommerce landscape. Businesses can enhance their brand image and appeal…
Michigan Business Insurance Guide 2024
While Michigan has its roots in automobile manufacturing, small businesses are still a large part of the state’s economy. When it comes to Michigan business insurance, the state has some one-of-a-kind coverages you won’t find elsewhere. Workers’ compensation and commercial auto are required in Michigan while other coverages, such as general liability, play an important…
The Ultimate Guide to Sole Proprietorship Taxes
A sole proprietorship is the default IRS entity structure for freelancers and contractors who don’t form a corporation. It is also the default for single owners of limited liability companies (LLCs), but they can choose to be treated as a corporation if they prefer. Business income and expenses are reported on Schedule C of Form…