Do I Need Business Insurance?
Question: My accountant wants me to buy some business insurance. Is that something I should have?
Answer: I, too, advise my clients to purchase business liability insurance. It can protect you and your assets in the event of a lawsuit. If you are a sole proprietor, your personal assets are at risk with a lawsuit. Even if you are a corporation or LLC, business liability insurance can protect and preserve your business assets and your sanity.
Often, my clients say they don’t need liability insurance because our suppliers all have it. Yes, but, suing today usually involves a large net including any and every party even remotely involved. Protect yourself. The cost is reasonable. Check with your insurance agent to get the full story and some quotes.
Please email your questions to Harriet at Ask The Accountant.
QuickBooks Premier and Enterprise can be modified to better serve ad specialty distributors. Harriet Gatter is a QuickBooks ProAdvisor, a former accounting professor and a former ad specialty distributor. She advises ad specialty distributors to use QuickBooks Premier and Enterprise, often in conjunction with other industry-specific software, to manage the complexities of the ad specialty business, with the results being time saved, errors eliminated and an overall accurate accounting of your business. Contact her at firstname.lastname@example.org.