01

What is the average cost for business insurance? Specifically liability and workers compensation.?

I am working with a skincare product company that needs to purchase insurance to cover various things such as allergic reactions, etc…Is that liability? What are the average costs? Also need recommendations for health insurance for workers.

Answer by Ed Atun
Workmens Comp will cost you apx 1% of each worker’s salary monthly. Not too expensive but it eats up your profit. Business insurance will be tied into the type of operation you run. Heavy trucks and lifting motors? 0 per worker per month? Sitting in an office? per worker per month.
You didn’t mention health insurance but you can guess that will be at least 0 per month per person without covering their family.
I hope that you are really going to open a business. i did. I wish i’d done it sooner. It’s been fun.

01

What is the typical price range for business liability insurance?

small business and not large, no employees, just insurance to cover any client issues that might happen.

thank you
type of business: tutoring
amount of business: one client at a time

Answer by Ryan M
Depends on your type of business and how much business you do.

0

Why don’t the partnership business has liability protection policy while the corporation do have?

Why the partnership business doesn’t have liability protection and the corporation has? Is it possible if in partnership business an agreement is made between the partners which enables them to get their liability ratio fix up to their investment? Also would like to know about main difference between a Company, Corporation & Partnership.

Answer by Carmen
A company can refer to any sort of enterprise. A partnership, a corporation, and even a sole trader’s business can be referred to as a company. A corporation is a company that is registered in terms of the Companies Act (and has a Certificate of Incorporation). A corporation has limited liability and is regarded as a separate legal entity. Shareholders or members of a corporation only lose as much as their investment was. A partnership is an agreement between two or more parties. It is not a corporation and therefore does not enjoy limited liability status. Partners are liable for all debts according to the ratio of their investments. This is stipulated in their partnership agreement.

01

I need to find the Cheapest tempory Business Liability insurance.?

I am planning on doind a small job for an apartment complex with myself and a couple friends. Since we will be using a small amount of scaffolding, we are required by the apartment complex to have business insurance. I was wondering about how much this would cost for about 3 people and about 2 weeks or less. Thanks in advance.

Answer by mbrcatz17
You’re going to pay the same for a “one shot” as you will for an annual policy. The scaffolding will put you in a surplus market carrier, and the “minimum premium” will be the full year, payable in full. When you cancel the policy, you won’t get any of it back.

Expect, if you’re doing an outside job, that this policy will cost you 00 to 00. Nonrefundable, but still auditable, so if you do MORE work, they can charge more if you’re payrolls are higher than you originally reported.

3

Whats the best avenue in obtaining Small business Liability Insurance?

My husband runs a small business, but has had trouble obtaining small business insurance. He has contacted many local companies, and noone seems to return phone calls these days. We live in the Wilmington NC area. Does anyone have any advice on this? Is it best to go with a local company or can you find it elsewhere? Any suggestions on reputable companies? We have hit a road block and any sincere, knowledgeable advice will be greatly appreciated!

Answer by protoham
I am surprised you are having problems with this, check with the local chamber of commerce or JCs.

2

How much does your business tax liability go down with a donation to a charity?

Can someone one tell me what the reduction in tax liability would be (all things being equal and assuming all normal deductions are in place) for a business that has mil in AGI and donated 0k to a 501(c)3 charity.

I understand that you can give up to 50% of your AGI, but in this case my liability without the donation would be 330k, so if I donated the same amount to a charity….how much would i still owe the gov’t?

Answer by bostonianinmo
If the business is a corporation the maximum deduction for charitable donations is 10% of the corp’s taxable income.

If the business is a sole proprietorship and the AGI on your tax return is mil, most likely all of the 0k of a donation would be in the 35% bracket so your savings would be 35% of the 0k or 5,500.

One word though. If this is for a 2008 tax return, it’s too late to make a donation that will reduce your tax liability. Any donation now would be reflected on your 2009 return next year.

3

How much would general liability insurance and health insurance cost for a small business in Beverly Hills, CA

I have to do a project for my Economics class. I have to establish a fictional business. The problem is, I can’t find out the cost of insurance unless I fill out a form and wait to be contacted by an actual insurance agent. I’m not really forming a business. So I was just wondering, how much would each insurance generally cost?
Any help would be greatly appreciated! :]
Thank you!

4

What is the best legal entity for a small restaurant business, Limited Liability or Corporation Sub. S?

I’m staring a small restaurant be myself and was considering a S corporation, when someone mentioned that a Limited liability company may be better.

2

How much would Workers Comp, Liability, and auto insurance be for my small business?

Hello, i am in the process of starting a new business and i wanted to know how much it would cost per month to have auto insurance (for one old truck to transport employees to mow lawns, only driving within one city). Workers comp, and liability. We will make about 80,000 a year total just two or three guys (im one of them) working.

2

What is the tax liability for someone that leases a business? As an employee or as an independent contractor?

I know it sounds strange, but say someone leases a business and come tax time, their income tax return is filed as an employee. Would it be possible to amend the tax return? Would a business owner via lease be considered an independent contractor? If so, what requirements are necessary to be an independent contractor?

2

I have a home based business, do I have to do a limited Liability Corporation?

I want to protect myself from people, but it is only a home based business.
When do you or should you incorporate your business? If I have to incorporate where is the cheapest to do it and why?
I make my own cosmetics from home.

Which is the safest to do:
Corporations
Limited Liability and so on. Which do I do?

3

Do I need a Limited Liability Company (LLC) for my affiliate marketing business?

I am starting an affiliate marketing business, and have been informed that I should open an LLC to protect myself. Is this wise, how do I go about doing it, and if i’m running it all online from home, do I need a business license? If I have an LLC, can I just open a small business account with Wells Fargo for it?

01

why has the Corporation become the dominant form for conducting business? Will the newer Limited Liability Com?

why has the Corporation become the dominant form for conducting business? Will the newer Limited Liability Company replace it in the future?

2

How do you find out if a business claiming to be an LLC is actually a Limited Liability Corporation?

How do you find out if a business claiming to be an LLC is actually a Limited Liability Corporation? Are there directories that I can search? Are there listings of LLC’s online?

01

Approximate cost of business liability insurance for Virginia?

I understand that there is no “average” for liability insurance. In my specific case, I live in central Virginia, have leased a one-room office and offer financial education (not a CFP, rather teach people how to budget, etc. – not sell financial products).

Limits of liability not less than $500,000 for an accident affecting any one person; and not less than $1,000,000 for an accident affecting more than one person; and $50,000 for property damage.

Thanks!

2

What is the difference between a business that is a corporation,or one that is a limited liability corporation?

or one that is incorporated?

Meaning an ABC Corp., or an XYZ, Inc., or a 123, LLC.

What are the differences between incorporation, corporation, and limited liabilty corporation? Are there differences and how are they each different? Thanks for your help. In NJ.

6

what is the difference between Business Corporation and Limited Liability Company?

01

where/how can I register a business in Canada strictly for real estate investing liability protection?

I am looking to expand real estate investing into a more full time business, so I would like to register a business, but for my personal asset protection only. I will not have office space or employees so I don’t need a fancy business registration; I am only looking for help in setting up an LLC or something similiar to be operated from Canada, with the majority of my real estate deals in the USA.

Based on that- registering a business name basically for liability protection, and to be operated from Canada but with deals found in the USA- can someone give me some advice or point me in the right direction on registering cheaply and with low fees (maybe online?) either an LLC or something similiar in Canada that I can use in the USA and also Canada simply for my personal asset protection from being sued? Alternatively, can I register an LLC in a random state- but use it nationwide and in Canada- and operate it from my home in Vancouver, Canada? Thanks everyone.

3

How much does your business tax liability go down with a donation to a charity?

Can someone one tell me what the reduction in tax liability would be (all things being equal and assuming all normal deductions are in place) for a business that has $1mil in AGI and donated $330k to a 501(c)3 charity.

I understand that you can give up to 50% of your AGI, but in this case my liability without the donation would be 330k, so if I donated the same amount to a charity….how much would i still owe the gov’t?

0

Is there a ‘general liability’ business insurance?

I am a handyman, skilled in various trades. I have a college degree in a couple of fields, neither leading to jobs, thanks to the recession. I now have student loans to pay atop of regular bills. What I would like to know is if ‘general liability’ can apply to a sole business practitionier?