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Insurance for HVAC Contractors: What It Covers and Why You Need It

Levelset

Liability insurance will help cover expenses for damage to someone else’s property and/or legal costs if another party decides to file a lawsuit. The contract may ask that each sub carry a liability amount of $2 million, for example. The policy includes two main components that help protect the financial standing of the business.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. Luckily, my colleague and I only had to travel two and a half hours to the Atlanta area to meet with leading construction manufacturers from China, Japan and South Korea. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. STRATEGY |.

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Professional Liability Insurance Explained

Levelset

Professional liability insurance provides contractors coverage from financial losses that happen as a result of their errors, mistakes, or negligence. In that case, professional liability insurance would generally provide the plumber with reimbursement for legal fees, settlements, and judgments.

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Construction Business Owner Blogs

Construction Business Owner

ACCOUNTING |. Accounting & Finance. I learned even more as I traveled the world, hitchhiking across the United States and backpacking across Europe. Public Exposure and Liability on Construction Sites. Tags accounting. accounting software. Construction Accounting Software. STRATEGY |. MANAGEMENT |.

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Service Agreements Can Improve Contractors Cash Flow And Profits

Contractor Bookkeeping

The Balance Sheet is the summary report which shows all of the assets minus the liabilities which equals the "Book Value" or owner''s equity. Owner’s equity is in theory what would be left over if you liquidated the company, sold the assets and paid all of the debts or liabilities. Xero Outsourced Construction Accounting Services.

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Pricing to Maximize Profits

PSMJ Resources

How much does your accountant charge per hour? That trainer likely charges for travel as well, and maybe ancillaries like a print manual. Fees must adequately cover training, professional development, ample profit, and future liability. Your outside counsel?

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Small Vs. Large Construction Companies Small Is Superior

Contractor Bookkeeping

And Construction Accounting - Owners of small construction companies working at level 1,2 and 3 enjoy more freedom, peace of mind, make more money and have fewer upset stomachs on average than officers of large construction firms in level 4. As their business grows they like to take time off and enjoy travel and vacations.