Do you run a home-based business? If so, you almost certainly avoid wasting two things: time and money. This article won’t waste the former and will try and help you protect the latter, through Accupro Insurance, as we give a quick primer on home-based business insurance in Las Vegas.
If you’re running a business out of your home, peace of mind is one of the most important things you can have, and knowing your bases are covered with the proper insurance can give you that. According to this article half of home-based business owners are under-insured, and many assume their home owners insurance covers their business, which is not the case.
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Three Kinds of Policies:
Typically for home-based businesses that bring in less than $5k a year, these are available as riders on existing home insurance policies.
In-Home Business Policies
A step up from the above, for roughly $200 a year you can insure your business for tens of thousands of dollars, and if you suffer business losses from damage to your house, your policy may cover expenses.
Business Owners Package Policy (BOP)
A BOP is a more comprehensive insurance policy designed for small and medium-sized business owners and is approved in 39 states. You’ll want to check with a local insurance agency to see if your state permits these.
The short answer to the question “Is the Cost of Home-based Business Insurance Tax Deductible?” is yes, most likely. You’ll want to consult with a tax expert to make sure. The last thing anyone wants is to have the IRS come knocking, at home or at work, or where you work from home.