Business Briefs

Are You Covered???

A client comes to your home for a business meeting and trips over your child's roller blades left on the walkway --- and breaks his/her arm --- are you covered?

You rewire a client's computer in your home-based computer repair shop. The computer later overheats and burns up your client's home --- you wired it wrong --- are you covered?

You are a home-based CPA, you advise your client to take certain deductions on his/her taxes. The IRS later audits your client, disallows the deductions, assigns penalties and interest, and puts your client out of business --- are you covered?

And what about property coverage? Consider the following situations:

Your home office is in your detached garage --- are you covered?

You run a small retail business such as a salon, repair service, craft shop out of a little building out behind your home --- are you covered?

Your home office in is a converted bedroom and you just purchased a new computer system that cost $10,000 --- your home is broken into and your new system is stolen --- are you covered?

You just finished manufacturing a $15,000 order of widgets and the client is going to pick them up from your home office tomorrow and the house burns --- are you covered?

Your laptop you use for sales presentations is stolen from your car --- are you covered?

Your home office burns and ALL the data stored on your computer is lost --- are you covered?

The list of possible scenarios could go on and on --- the point is that a catastrophe could put you out of business quickly if you are not properly protected. The important thing to remember is to do your homework and make certain you ARE COVERED!