Remove Compensation Remove Foundation Remove Income Remove Liability
article thumbnail

Carpenter’s Insurance: Who Needs It & Why

Levelset

There are many policies that apply to a carpenter, but a simple business owner’s policy can include property damage and liability coverage. If a third party gets injured on a job, liability coverage helps pay the cost of legal defense if you get sued for the accident. . Does a carpenter need insurance?

article thumbnail

A Plumbing Contractor’s Guide to Insurance Coverage

Levelset

In this respect, general liability insurance or workers’ compensation could help cover those costs if an incident should occur. . Workers’ compensation insurance should be in place to help defray the costs of employee medical treatments. Liability for damage. A GL policy offers a wide range of protection.

professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

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.

article thumbnail

State by State Incentives Guide

Buisness Facilities Contributed Content

The allocation to each Public University which makes application shall be based on each Public University’s federally financed research and development expenditures as reported by the National Science Foundation. Income Tax Capital Credit: The Income Tax Capital Credit has been available since 1995. The Research Program.

Income 108
article thumbnail

STATE INCENTIVES GUIDE

Buisness Facilities Contributed Content

INCOME TAX CAPITAL CREDIT: Currently codified as Article 7, Chapter 18, Title 40, Code of Alabama 1975. It is a credit of five percent of the capital costs of a qualifying project, to be applied to the Alabama income tax liability or financial institution excise tax generated by the project income, each year for 20 years.

Income 75
article thumbnail

Unique Tips To Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Tax Advantages For LLC or a Sub S - The profit or loss from your business is passed through to the owners as normal income. Since the LLC or Sub S does not pay state or federal income tax (as separate business entities), you may be able to save money over a Sole Proprietorship; no double taxation. in done correctly. Or The Hard Way.

article thumbnail

We Reduce Construction Company Start Up Stress

Contractor Bookkeeping

Tax Advantages For LLC or a Sub S - If you do not setup your corporation correctly the profit or loss from your business will be passed through to the owners as normal income. All large income and expenses go through one account and keep the debit card in your personal safe. Partnerships Are The Only Ships - Designed to sink.