Do a Google search Independent Insurance Broker YOUR TOWN and we have tools that will determine REPLACEMENT cost of your home, which is what you should insure it for. Do NOT insure it for market value or sales price which is totally different than replacement cost.
How to Start a Business With Limited Space
Starting a business with limited space is not as difficult as you may think. In fact, it can be easier and less expensive than starting a business in an office building or storefront location. A home-based company has the flexibility to work from any room of the house that suits their needs at any given time. This means they do not have to rent an entire office just for one person's desk, nor do they have to worry about paying high utility bills each month.
In addition, these entrepreneurs get more privacy and freedom while also being able to spend more quality time with family members who live in the same house or apartment too! Read on to learn more about the different aspects of a home-based business.
How to establish a home-based business
It is quite simple to establish a home-based business, especially if you already live in a place that suits your needs.
The first step would be to choose your business structure. The most common for new business owners is an LLC. There are many benefits to forming an LLC if you're running a business including limited liability, tax advantages, less paperwork, flexibility, and more. You can avoid hefty lawyer fees by filing yourself or by using a formation service. States have different regulations around forming an LLC, so check the rules in New York before moving ahead.
The next step would be to choose your workspace. This is important for tax reasons since you'll be able to take certain deductions based on the size of the room used for business.
Legalities of running a business from your home or apartment
According to the IRS, deducting expenses for home offices is typically based on the percentage of space used regularly and exclusively for business purposes. It can be difficult to know when you've reached this point; a good rule of thumb is that if your workspace is located in your house or apartment and you're doing similar activities there as compared with other rooms in the house, then you could be getting into an area that isn't deductible.
A good way to deal with this is by having a separate workspace or home office. If you work in a room separate from where your family lives, then it will be easier for you to meet the requirements of deducting expenses.
You also need to have adequate business insurance. Explore Larsen Insurance Agency’s business owners package (BOP) insurance options, as well as other must-haves like workers’ compensation if you have a staff.
Separating work from home life with a home officeHaving a separate workspace can make it easier to separate your work from home life, which is important for your mental health. Whether you opt for a simple desk in the corner of your living room or custom-built office space with filing cabinets and shelves, maintaining clear boundaries between your two worlds will help mitigate any conflict that may arise. For example, it would likely be difficult for you to relax in the room where your work life is taking place.
Starting a business with limited space is possible!Starting a business with limited space is possible, but there are some considerations you'll need to take into account. You should first choose your company structure and the type of workspace that will suit your needs best for tax purposes. If you work in an apartment or house where other people reside, it's important to maintain clear boundaries between work life and home life so as not to blur the lines.
Once you've considered the factors in this article, you should feel more confident about the basics of starting a new business. Get your business insurance quotes from Larsen Insurance Agency today.
FREE tags to homeowners and landlords who need to have everyone know where to shut off the water. We've had a few claims that could have been prevented if the owner knew how to shut the water off. Now we have created a "water shut off tag" that insureds and friends can attach to the water valve.
You don't have to be a client for us to send you one for free, just reach out vis email or phone (716) 684-3203 to get yours too!
Before you renew your insurance policy, we have a HUGE deal for salon owners! Now you can cover either employees or chair renters for professional liability on your policy! And we can issue certificates of insurance in their name to satisfy NY State license division! No need to have chair renters pay $200-$300-$400 a year for a separate policy!
Call us today 716-684-3203
We now offer Pet insurance through our partnership with Safeco insurance. So for Fido and Frisky, we can now offer to cover your dog or cat through out Pet Insurance program. Very simple and easy process that you do yourself online!
You can do the quote here: https://lm.force.com/adjprod/s/
This is to cover your pet for insurance direct with Hartville insurance company.
Get Fido or Frisky covered today!
Their are some worker's compensation programs out there that are called Pay-as-you-go, where you pay for worker's compensation along with your payroll. So when the audit is then done, your business would (should) be even on what you've paid and what you owe. Since your payroll is current and your worker's compensation would be current, there would be no big bill at the end.
For larger business with a large payroll, this worker's compensation solution could be what you are looking for.
One of our insurance companies just announced that they have agreed with Plymouth Rock Insurance company to offer UB alumni an insurance affinity program. That means you get an extra discount on auto & homeowners insurance if you are an alumni with UB.
This is exciting news for our agency because we are affiliated with Plymouth Rock and their sister company, Palisades for homeowners. Exciting for the thousands of University of Buffalo alumni still in Buffalo!
How to buy auto insurance in Buffalo, NY
I know you are confused with "15 minutes can save you 15%", "don't let mayhem happen to you" stuff. You are exposed to ads every day regarding auto insurance - online, on your drive to work, on the evening news, in your Facebook feed...but what is the truth?
The truth is nobody can make a blanket insurance statement and it be true for everyone. The factors used in rating auto insurance will be different from insurance company to insurance company. Your credit score, your driving record, your age, your home ownership status, how you use your auto's....al factors different from household to household.
How to buy auto insurance in Buffalo, NY
The fact is, years ago all auto insurance companies had, like 5 tiers of pricing - Ultra Preferred, Super Preferred, Preferred....etc. Now every auto insurance company has 80 or 80 tiers of pricing! The algorithims used by every auto insurance company are all over the board. One might use your homeowner status (and bundling) as the main factor. Another will use credit as the main factor. Yes another will use claims history as the determining factor.
So the TV ads you see everyday are sort of misleading because they make a blanket statement that just isn't true. The auto insurance playing field just isn't level when there are so many factors that go into pricing. Independent insurance broker's like us are the best option because we'll have 10, 12, 14 insurance companies to rate you with - thus we are doing the shopping for you. We'll give you our honest feedback and not try to sell you 1 product, like the online companies do. We build a relationship not sell a product after I talked to you 1x.
Just don't believe those misleading auto ads you hear.
Bundling means putting your home and auto insurance with the same insurance company. For homeowners, that means having your home insurance and auto insurance with the same insurance company (maybe a personal umbrella too). For a renter, that means having your personal property or renters insurance with the same company that insures your cars.
This makes sense, as all insurance companies give a discount with bundling. It varies from insurance company to insurance company but most are 10% off your premium. So if your 2 auto's insurance costs $1,800 a year, you'd get $180 off of that. And is your homeowners insurance is $1,000 per year, you'd get $100 off of that. So because of "bundling", you save $280 per year off your insurance costs. I'd say bundling does save you money!
Steve Barron asks: If a tree falls on your house due to a storm, does insurance cover the damage and tree removal or is it considered "an act of God"?
Answer: Your insurance would cover the damage and the tree removal. When you mention “act of God” that would be if the said tree that fell was on your neighbors property but fell on your house. It would be your insurance that paid not your neighbors insurance because it was an “act of God”. Many consumers think it is the fault of the person who "owns" the tree on their property but it is not.
I personally had a neighbors tree fall into my inground pool but it did no damage, so a claim was never filed. But if I had to file one, it would be on my own homeowner's insurance policy.
Need a homeowner's insurance quote? email@example.com