Limited liability company (LLC) insurance is a set of policies that LLC owners buy to protect their financial assets. Each policy covers a different type of risk, but the most common ones include general liability and commercial property. The combined policies that make up LLC insurance can cost anywhere from $450 to $1,200 annually, depending…
Ultimate Guide
Handyman Insurance: Cost & Coverage
Handyman insurance is a combination of policies, the most common ones being commercial property and general liability. These coverages provide protection for your business against property loss and legal fees if you’re sued for injuries, have to pay for property damage, or replace your property. General liability and commercial property handyman insurance costs anywhere from…
Ultimate Guide to Yelp for Business Owners
is one of the largest user-generated review sites. Consumers use Yelp to find local businesses across various categories, such as restaurants, bars, shopping, entertainment, electricians, plumbers, contractors—and just about any other local service. To use Yelp for business effectively, build your free profile, respond to all reviews and inquiries, and use enhanced features and ads…
The Ultimate Guide to Customer Service for Small Business
Customer service is the assistance you provide customers through their entire purchasing journey. This should be a part of every business strategy because satisfied customers translate to more sales, repeat purchases, and referrals. Here, we explore the importance of customer service, its difference from customer support, and the members and qualities of a good service…
How To Do Payroll in the Philippines: Ultimate Guide
Handling payroll in the Philippines is a bit different from doing payroll in the US. For instance, one big difference is that every US employee has a Social Security number, which is used to track the employee’s wages and tax requirements; meanwhile, in the Philippines, each employee has a tax identification number (TIN), which must…
Key Man Insurance: Cost, Coverage & Providers
Key man insurance, or key person insurance, is life insurance coverage a business takes out for an individual employee who is crucial to the financial success of the company. The business purchases the policy, pays the premiums, and is the beneficiary in the case of the death or disablement of the key person. A 20-year…
Contract Controlled Insurance Program (CCIP): Cost & Providers
A contractor controlled insurance program (CCIP) is a specific insurance policy purchased by general contractors to coordinate general liability for construction projects. Also called wrap-up insurance, CCIP insurance is controlled by contractors rather than project development owners. The cost for a CCIP starts at 1% of the construction costs with policy durations extending past construction…
What Is a Section 1031 Exchange, and How Does It Work?
A 1031 exchange allows an investor or business owner to sell a commercial property, acquire another, and defer capital gains taxes in the process. The name refers to section 1031 of the United States tax code. When a property is sold for cash, the net proceeds incur a capital gains tax. However, if the investor…