limited liability company http://www.artwoo.com Returned search results for limited liability company Copyright 2008 Tue, 02 Dec 2008 17:37:14 +0000 http://www.artwoo.com/rss/limited+liability+company Limited Liability Company -- Perfect Setup For Small Businesses http://www.artwoo.com/article/limited-liability-company-perfect-setup-for-small-businesses http://www.artwoo.com/article/limited-liability-company-perfect-setup-for-small-businesses#comments Sat, 09 Sep 2006 12:27:07 +0000 limited liability companypartners limitedllc businesssecretary of statepersonal income taxpersonal guaranteeattractive business http://www.artwoo.com/article/limited-liability-company-perfect-setup-for-small-businesses Limited Liability Company or LLC is a legal entity that limits the liability of its owners. LLC is more suitable for small businesses with a limited number of partners. Limited Liability Company is neither a corporation nor a partnership, but combines the benefits of both. The liability of a businessperson is limited to his investment in the LLC. This means that he cannot be held personally liable for company debts unless he has stood a .

There are a number of tax advantages that a limited liability company can benefit from. The tax benefits of an are mostly gained through 'pass-through' taxation. In this system the profits from the business are taxed only once and owners need not pay both corporate and on their earnings through the LLC business.

Other advantages of a limited liability company are that it requires much less paperwork and administration than incorporations. There are minimal requirements for reporting to state and other regulatory bodies, and there is no requirement for board of directors meetings or annual general meetings. All these factors make a limited liability company an option for many small and medium sized businesses.

Forming a limited liability company is not difficult. You must decide on the name, business and location. The main paper to be filed is the 'Articles of Organization' along with the stipulated fees. The papers should then be submitted to the office of the in the state where the LLC is to be registered.

It is essential for each LLC to have a 'Registered Agent' with a street address in the state where it is registered. The office of the Secretary of State in your state will provide advice and assistance to register a Limited Liability Company. Professional services are available to complete the entire process within a couple of days for a reasonable charge. All states in the USA permit the registration of a business as a limited liability company.

Filing with the state authorities can incorporate Limited Liability Company. The general procedure is that of incorporating a corporation. The advantages of a LLC over a corporation are that there is no need to get the consent of shareholders, no need to issue shares and no need for a board of directors. Since Limited Liability Companies are run by the owners, they have their own operating agreement. Once these are decided, filing with the state authorities can incorporate the LLC. Thus the choice of business structure and the incorporation of it are important. Hence, it is advisable to get counsel from a lawyer before incorporating a Limited Liability Company. If you are thinking of setting up a LLC, visit Susan's site at http://www.easy-llc-formation.info. Susan also enjoys writing on a wide range of topics at http://www.health-and-fitness-hub.info. ]]> Just What Is A Limited Liability Partnership And How Can It Benefit Me http://www.artwoo.com/article/just-what-is-a-limited-liability-partnership-and-how-can-it-benefit-me http://www.artwoo.com/article/just-what-is-a-limited-liability-partnership-and-how-can-it-benefit-me#comments Thu, 20 Dec 2007 20:29:59 +0000 limited liability partnershipslimited liability partnershipdeed of partnershipcompany shareholderstaxation issuesmember partnerscompany structure http://www.artwoo.com/article/just-what-is-a-limited-liability-partnership-and-how-can-it-benefit-me s (LLPs).

LLPs do not replace traditional partnerships as a , but are an additional option that limit personal liability if anything should go awry with the business, much in the same way as are able to do.

Excluding exceptions such as instances of wrongdoing or of fraud, the members of a limited liability partnership cannot lose more than they have invested in to the partnership.

Who Should Consider An LLP?

While, in theory, any group of people setting up in business together might choose an LLP, the advantages are confined mainly to certain professions where they are frequently limited from setting up limited company by their professional bodies.

Solicitors, accountants and surveyors are among the most common groups that would most benefit from establishing a Limited Liability Partnership.

Setting Up An Limited Liability Partnership

Setting up a Limited Liability Partnership is fairly straightforward, though a members agreement - sometimes called a - will need to be in place covering the responsibilities of each member.

This agreement covers such things as who is the 'designated member' responsible for signing the annual accounts and acting on behalf of the LLP if it is dissolved in the future. It will also include details of the amounts of money each partner puts into the business and what would happen if one partner leaves the business.

The actually process of setting up the LLP simply requires the newly formed partnership to be registered with Companies House.

for UK LLPs

Limited Liability Partnerships are considered to be 'tax transparent'. This means that the partnership itself, in effect, pay no tax.

Tax is paid by the individual in proportion to the income gained through the partnership.

As with other business structures, the LLP will have to register for VAT once turnover reaches the =A364,000 threshold.

Further, if there are employees who are not members of the partnership, the LLP will have to set up a PAYE system to collect tax and National Insurance contributions for those employees.

Benefits of an Limited Liability Partnership

In short, the benefits of forming a Limited Liability Partnership rather than a Limited Company or traditional partnership are as follows:

1) All the partners in the LLP have limited liability protection.

2) All partners receive partnership tax treatment (there is no entity level income tax).

3) A Limited Liability Partnership allows for more flexibility in splitting partnership profits and losses.

4) The management structure of an LLP is more streamlined than in a limited company.

So, this business structure can benefit not only professionals such as solicitors who would usually set up traditional partnerships but a wide range of businesses.

As it is a fairly new type of company, the advantages are maybe not as well known as for other types of company structures, but you may find it beneficial to talk to a solicitor or accountant about whether an LLP is the best choice for you. Jim Haines works for Just Accountants, a site where UK companies can receive quotes from up to 4 accountants specialising in LLPs. Visit http://www.justaccountants.co.uk/partnerships.html for more details. ]]> Dare To Be Different: Limited Liability Company http://www.artwoo.com/article/dare-to-be-different-limited-liability-company http://www.artwoo.com/article/dare-to-be-different-limited-liability-company#comments Tue, 22 Aug 2006 22:27:16 +0000 limited liability companyllc memberssole proprietorshippartnershippersonal tax returnspersonal assetsliabilities http://www.artwoo.com/article/dare-to-be-different-limited-liability-company
Good decision-making is a key factor in the success of any business. Sometimes, it seems it solely depends upon these decisions we make. This involves what type of business to go into and of course, what kind of structure to use.

, or corporation. The decision is yours. But before you do, you might want to take a look at this thing called .

A limited liability company is a kind of business structure that offers limited liability to its members. It's not a partnership nor a corporation but rather a fusion of the characteristics of both.

Confused? Let us clarify it a bit.

In a corporation

* The company offers you just that limited liability depending on how much you invest. Just like in a limited liability company.

* There is no limit to the number of members. may be a single person, a corporation or a member of another limited liability company.

In a partnership

* The losses and of the company are shouldered equally by the partners. In LLC, there is a limit to how much a member will shoulder and collectors cannot hound the members to pay the company's liabilities using their .

However, the method of taxation in a partnership and a limited liability company is the same. On both types, the members put whatever income or loss they experience on their . This means that the company isn't the one paying the taxes but the individual members themselves. And there is no doubling of taxes involved.

The advantages of an LLC are:

* Less paperwork and administrative duties involved. This is because the company can be classified into different forms like sole-proprietorship, partnership or corporation regarding the way it is taxed. If they are registered as a sole proprietorship business, then tax involves less stress and work.

* General meetings and meeting minutes are not necessary

* There is more flexibility in the management of the business. All management policies depend upon the agreement between all of the members.

However, how good it might sound, there are always drawbacks. Disadvantages are:

* A limited liability company cannot last forever. Unlike a corporation where in succession takes care of the problem of management, the death of members or going bankrupt is usually enough reason for the company to break up.

* Also, the lack of stricter rules may cause a dissension between members and result to poor management.

* And it might be pretty difficult to find people willing to invest in the company. Note that a limited liability company is a relatively new trend and these investors might not be confident in investing in something that they don't fully understand yet, compared to the familiar grounds of a partnership or a corporation.

Yes, the road to success may be small, hard and long. Putting up your own limited liability company will take hard work and patience. But who knows? You might reap the best rewards. Be daring and be different.

All Rights Reserved. Content may be reprinted as long as links remain intact. Protect yourself and your business but getting an LLC today. Checkout http://perfectllc.info for more information. ]]> Turn Your Small Business Into A Limited Liability Company http://www.artwoo.com/article/turn-your-small-business-into-a-limited-liability-company http://www.artwoo.com/article/turn-your-small-business-into-a-limited-liability-company#comments Wed, 12 Sep 2007 21:30:00 +0000 limited liability companyforming a limited liability companypersonal assetsforming a companylegal paperworkprofessional legal servicecrucial http://www.artwoo.com/article/turn-your-small-business-into-a-limited-liability-company personal assets and take advantage of a flexible tax structure by forming a or LLC.

A Limited Liability Company is a legal form of Business Company granted in the United States offering limited liability to its owners. It is similar to a corporation, but a more flexible form of ownership, more suitable for smaller businesses with a limited number of employees or owners.

For new business owners a Limited Liability Company can be an attractive solution to especially considering the many benefits to having an LLC. For starters, having a LLC involves maintaining much less paperwork and recordkeeping as a corporation would have.



Many of the primary benefits consist of the various ways you can set up taxation. For many business taxes alone can be a complicated subject matter. As an individual owner you can decide how you wish your taxes to be applied.



For instance, a LLC can elect to be taxed as a sole proprietor, partnership, S-corp or corporation, providing much flexibility. Also using the default tax classification, profits are taxed personally at the member level, not at the LLC level. Consultation by a can be vital to identifying the best option for your business.



LLC's also provide some of the same protections that corporations have for protecting the owners and members from liabilities and debts of the LLC. If your business should ever face insolvency your personal assets would be protected.



Yet there are still some vital rules to keep in mind when running a Limited Liability Company. Proper management of your company financials is important. It is to keep the business and affairs of the LLC separate from members or manager's personal affairs. This means establishing a separate bank account, and maintaining separate records from the LLC.

It only takes one person to form a Limited Liability Company. You can prepare the and file it yourself, or use a professional legal service. The prices to forming a LLC can vary depending on the state which will charge some type of annual fee to maintain an LLC.

A Limited Liability Company also has an unlimited lifespan and ownership can be transferred to any person you wish.



If you haven't already discovered what a LLC can do for you and your business there a number of available resources online you can explore. A lot of time and effort goes into developing a business and having the proper business structure can be critical for success. To learn more about go to http://www.legaldocumentfinder.com. Kennard McGill is an online publisher and writes articles on numerous topics including online legal services. ]]> Why Opt For A Limited Liability Company? http://www.artwoo.com/article/why-opt-for-a-limited-liability-company http://www.artwoo.com/article/why-opt-for-a-limited-liability-company#comments Thu, 15 Jun 2006 18:32:09 +0000 limited liability companysole proprietorshipsingle proprietorshipbad faithpartnershipapparentlycorporation members http://www.artwoo.com/article/why-opt-for-a-limited-liability-company single proprietorship, enter into a or form a corporation.

Each of the three legal structures has its own advantages and disadvantages. A is the easiest type of business to put up and operate because only one person is responsible for decision making and for running the business. However, being alone in business means you are solely responsible for whatever happens to you business and you only have to rely on your own capital and resources.

A partnership is better considering that two or more heads are always better than one. A partnership offers more possibility in terms of capital base and of brain power. However, partnerships do not always work due to conflicting business decisions.

The next if not the best option is to form a corporation which would be composed of incorporators who will put up the seed capital for the business. A corporation can provide more sources of funds and the owners are only liable to as much as the money they have invested in the business. Provided of course that the corporation does not indulge in illegalities or does things in . Doing so would necessitate the application of the principle of piercing the veil of corporate fiction. This means that the owners can be made accountable even beyond the amount of their investments if they are found to be in bad faith in certain transactions.

While the corporation has proven to be the best option for business owner, there is another option called the which offers the characteristics of both partnership and corporation. Members of a Limited Liability Company can enjoy the limited liability enjoyed by corporations unless a personal guarantee has been signed. This legal structure also offers tax benefits much like the benefits available to corporations.

A Limited Liability Company does not however require the bureaucracy of a corporation in terms of the taking of minutes. And unlike in a partnership where the partners can only participate in decision-making depending on their partnership status, members of a Limited liability Company can take part in decision making without losing their limited liability protection.

However, while a corporation can last for 50 years renewable for another period, a Limited Liability Company can be easily disbanded particularly when a member dies or becomes bankrupt. It is also more feasible to form a corporation if there are plans to do a public offering.

Despite the disadvantages of forming a Limited Liability Company, it is still the best choice for business start ups that are still testing the waters but already want to give their business a legal structure. The author frequently writes for LLC Your Business http://www.llcyourbusiness.com where additional information about business and LLC resources is freely available. ]]> What Are Limited Partnership Agreements? http://www.artwoo.com/article/what-are-limited-partnership-agreements http://www.artwoo.com/article/what-are-limited-partnership-agreements#comments Thu, 04 Sep 2008 01:29:22 +0000 limited liability partnershipslimited partnership agreementpartnership sharelimited partnershipslimited partnersjoint and several liabilitygeneral partners http://www.artwoo.com/article/what-are-limited-partnership-agreements hip Agreement, one must first understand the limited partnership. Similar to the hip, the limited partnership consists of one or more general partners and one or more limited partners. The general partners act as would be expected. On the positive side, they manage and control the partnership, share in its profits, use its property, and have authority to bind the other general partners. On the negative side, they are all jointly and severally liable for the debts and obligations of the partnership.

Add to this the limited partners who are, as their name suggests, limited in what they can and cannot do. Limited partners can share in the profits, receiving dividends of sorts. They also can avoid the for the partnership's debts. They cannot, however, bind the partnership, nor do they have management control-usually. But they can sit on the board of directors without being deemed to have management control. Lastly, they are obliged by statute to disclose their status as limited partners to the public, lest unwitting persons think otherwise.

It happens sometimes that limited partners can have management control and the power to bind the partnership, and this leads into the main distinctions between general partnerships and . First, limited partnerships are created not by the intention of the parties but by statute, by filing registration papers with the state. Second, the parties may decide to override the Limited Partnership Agreement by actually endowing the limited parties with rights that they would not normally enjoy. And third, so long as the limited partnership observes certain rules related to limited liability, centralized management, duration, and transferability of ownership, it will benefit from pass-through taxation. Otherwise, it will be taxed like a corporation.

Limited partnerships are also distinguished from . In the latter case, all the partners have limited liability. In the former case, only the limited partners have limited liability; the general partners are still on the hook. To address this hazard, the limited partnership may be set up such that the general partner is actually a corporation or LLC.

Limited partnership Agreements have a number of essential clauses. Because the agreements govern the partnership, it is important for them to be clear and complete. They should address the issues of control and authority-may limited partners manage or bind the partnership? They should also deal the purpose of the partnership, its duration and termination; possible assignment of partnership interests (which are regarded as securities by law; the other partners have right of first refusal, too, where a partner is trying to assign the interest); and money-how to split the profits, how they will be taxed, and how to divide the partnership's debts.

Limited Partnership Agreements are most commonly found in the real estate and entertainment (film) industries, where projects (like constructing a building or making a movie) are of a finite duration and where the duties can be neatly separated. That is, in these situations, the general partners make the investment and control the project, and the limited partners provide the labor and the know-how. All, however, enjoy in the profits-at least theoretically.Mark Warner is a Legal Research Analyst for RealDealDocs.com. RealDealDocs gives you insider access to millions of legal documents drafted by the top law firms in the US. Search over 10 million Documents, Clauses, and Legal Agreements for Free at http://www.RealDealDocs.com]]> The Importance of Public Liability Insurance http://www.artwoo.com/article/the-importance-of-public-liability-insurance http://www.artwoo.com/article/the-importance-of-public-liability-insurance#comments Thu, 25 Sep 2008 09:29:36 +0000 public liability insuranceemployers liability insuranceinsurance public liabilityfreelance photographerwedding dresseswedding businessimagine one http://www.artwoo.com/article/the-importance-of-public-liability-insurance Public Liability Insurance

One of the more common subsidiary's of the wider 'Liability Insurance', Public Liability Insurance, whilst not a compulsory business insurance, can be a lifeline for any working company or individual should something an incident occur with a member of the public.

What is Public Liability Insurance and why is it needed?

Ideal for any individual or company working with the public, or where the public visit a company's premises, Public Liability Insurance ensures that the company or individual is covered should an accident occur to a member of the public on their premises. Further to this, Public Liability Insurance also covers any accidents or incidents that may occur when the individual or company is carrying work out on their client's premises.

Including the cost of all legal fees' that may occur, whilst not mandatory, Public Liability Insurance is highly recommended for anyone carrying out work with the public.

It has to be noted that Public Liability Insurance only covers claims from third party's and not employees of your company. This is where Employer's Liability Insurance comes into play.

What exactly does it cover?

Public Liability Insurance covers the individual or the company in the event of an accident on your premises or their premises. of the following scenarios --

A small-scale has just opened its first shop in a small shopping centre. When trying on a selection or , a lady trips on one of the wedding dresses that has been left on a chair, trailing on the floor, breaking her wrist. Public Liability Insurance would cover any expenses incurred should the lady pursue a claim against the business.

Out on location for magazine photo shoot, a leaves one of his tripods lying down on the floor. A member of the public walks by and falls over the tripod and injures her arm. Public Liability Insurance with ensure that the photographer was covered if the member of the public claimed against them.

How much cover is needed and how much will it cost?

For small businesses, Public Liability Insurance with a cover of £1m will generally suffice. Whilst the figure of £1m may seem excessive, if an incident happened and several claims were made against the company or individual, then the costs can soon mount up.

The positive side about Public Liability Insurance is that, although the cover of £1m is a substantial one, it is not directly reflected in the premiums that are paid. It's impossible to give a 'general' premium cost, as it varies quite considerably from business to business. Companies such as pubs and shopping centre's will have a much higher premium than a self-employed consultant who works 90% of the time from home, as there is a much more higher risk that an individual will be injured in the shopping centre than there is when in contact with the self-employed consultant. However, for a small business with a modest footfall figure, Public Liability Insurance can be purchased from around £10 per month, which is a small fee to pay should something happen resulting in a claim needing to be made.

Public Liability Insurance is an insurance that all business should have if they have some contact with the public. It's not a compulsory insurance - but it definitely should be.Motor Direct is an independent intermediary with a wide range of insurers, providing with choice and finding the policy that best suits your needs, and grant you discount where liability insurance is required if you wish to trade.]]> Car Insurance -- What Is Liability And Collision Insurance? http://www.artwoo.com/article/car-insurance-what-is-liability-and-collision-insurance http://www.artwoo.com/article/car-insurance-what-is-liability-and-collision-insurance#comments Thu, 03 Aug 2006 20:27:11 +0000 car insurance policycar insurance companydefenseless animalsmedical expenses http://www.artwoo.com/article/car-insurance-what-is-liability-and-collision-insurance
The first term you need to know is liability car insurance. This covers you from claims arising from an accident where there's bodily damage or damage to property. Generally, there are three main sections of any liability : bodily injury liability coverage, liability coverage for damage to property, and uninsured coverage. The first type of coverage protects you in the case of an accident, for which you are at fault, and others have been injured. Your liability will pay any legitimate claims for or lost wages. If you've run into someone's wall, or the side of their house, you'll need liability insurance for property damage, which will pay for repairs. In the instance where you are not necessarily at fault and the other driver does not have liability car insurance, you are protected by uninsured, or under-insured, motorist coverage.

Liability car insurance is not the same as collision car insurance. As you can see, nothing was mentioned about fixing your car in the above description. That's because it's not covered under a simple liability car insurance policy. You'll need collision car insurance, unless you're willing to pay out of your own pocket. Collision car insurance covers repairs to your car in the case of, you guessed it, a collision with another object. If you're one of those people who gets their kicks by running over poor, , this coverage isn't for you. You'll need comprehensive car insurance to fix that cracked headlight.

Generally, you can choose you're deductible rate, i.e., the amount that your car insurance company will pay out to repair your car. Typically, the higher the deductible, the lower the car insurance premium. You will definitely need collision car insurance if you are leasing a vehicle, if you own a fairly new car or if you are making payments to a finance company. Owners of much older cars may want to skip this form of car insurance altogether. If your car is totaled, the car insurance company will pay you that market value of your car, minus the value of your deductible. If you are able to absorb the cost of replacing your car yourself, you may want to forgo this. John Francis Amberden is a regular article contributor on many topics. If you have found this article helpful, visit his resource sites, http://www.quickcarinsuranceinfo.info and http://www.carinsurancecenter.info. For information on other topics of interest, visit http://www.moreinformationblog.com. ]]> Setting Up A Company http://www.artwoo.com/article/setting-up-a-company http://www.artwoo.com/article/setting-up-a-company#comments Fri, 03 Nov 2006 06:27:09 +0000 separate legal entityautobodyacmenaming your businesschoose a namelimited liabilityunincorporated business http://www.artwoo.com/article/setting-up-a-company
1. Why Incorporate?

The biggest advantage to setting up a company is incorporation. Unlike an , corporated businesses are a . The company will have its own name. You should incorporate even if you are just running a one-person home business. You can also sell your company later if the need arises if you incorporate.

2.

By far, the biggest advantage to incorporating, however, is getting what is known as limited liability. Let's say for the sake of argument that someone sues your business. As a separate legal entity, the worst that can happen is that you lose everything you invested into starting up the company - collectors are not able to force you to sell your car, home, etc. This isn't the case with an unincorporated business - your liability is unlimited and your personal finances in addition to the finances of your company are at stake.

3. Step 1 - Select A Name

In order to start a business, first, you must apply for a registered name. You will want to do research beforehand to see if any businesses in your community currently are already using the name you are thinking about . Try and that is unique, memorable, and distinguishes your business as belonging to a particular industry. For example, Industries isn't as good as Acme . Likewise, Acme Autobody can be made more origional and memorable - Speedy Autobody. It might also help to add your town or city onto the end, for example, Speedy Autobody Seattle. This is just an example of what separates the sheep from the goats. You might also want to put your name in the company name, for example, Johns Autobody Shop.

4. What Type Of Company Should You Choose

As was gone over earlier, chances are you will want your company to be incorporated, meaning you are not personally liable for your business. Other than that, you can choose to have your company privately or publicly owned. Unless you are huge and intend to be listed in the stock market you should stock to the private variety.

5. Your Obligations

Once your business name has been approved, you will be provided with a company registration number. It is then up to you to fill out another, second form to register for an income tax number for your business. You are also likely going to be required to have your place of business inspected to make sure that it adheres to the requirements of a building code - proper fire extinguishers should be a minimum requirement. Lastly, you may want to put up a small sign for your business and you will also want to display your licence in an inconspicous place on the premises. For more great company related articles and resources check out http://workfromhomeinsider.info ]]> The Form Of A Business http://www.artwoo.com/article/the-form-of-a-business http://www.artwoo.com/article/the-form-of-a-business#comments Mon, 03 Sep 2007 16:25:00 +0000 nature of the businesspartnership limitedsole traderpersonal assetsunlimited liabilitypersonal tax returnsearnings http://www.artwoo.com/article/the-form-of-a-business
In a financier's eyes, the sole purpose of the business is to increase the wealth of the owner's as far as possible. In the chasing of wealth, people can organise the business in several different ways. There are three basic legal business structures that organisations take on normally. Each is chosen depending on the complexity of the business, liability preference and tax considerations of the owners.



This is a business owned by an individual or husband and wife. The owner retains all the profits and carries for all losses. If things go poorly, the owner's can be seized. It is the most similar form of business and as with, for example, a simple burger stall no special government registration is required. are simply added to the owner's personal income and taxes are paid on the total income. However, because it is not a separate legal entity that can be sold in pieces, it is more difficult for a sole trader to raise money in the financial markets.

Partnerships

When several people get together and form a business, they often enter into a partnership. As in a sole trader, each owner's share of the earnings is included in his or her . Depending on the , there are two main types of partnership. For example, in a general partnership the general partners have unlimited liability for all business debts.

In a limited partnership, limited partners are protected from the full extent of their investment. The limited form is used to protect investing partners that do not participate in the management of the business.

Limited Companies

These are separate legal entities from the individuals that own them. In the eyes of the law, a limited company is treated as another individual who conducts his or her business. The assets and liabilities of the company are owned by the company and not by the owners. In the case of bankruptcy, the owner's personal assets are shielded from creditors.

The company's ownership is split into shares of stock that investors can purchase. When management decides that the company needs more money, additional shares can be issued and any investor is personally protected from any liabilities of the company.

A drawback is that that the company is double taxed in that the dividend is taxed along with the individuals.

Within the limited form, there are two variations, the C Corp and the Subchapter S Corp, which has thirty five or fewer owners who agree to include the company's earnings as in a partnership. This way the double taxation aspect does not fall on the owners and the firm's limited liability advantage is maintained.

Within investment, there are two main routes one can take. There is the investment area where headlines are made and there is financial management which is the work that helps companies pay the bills and make acquisitions.

Thus ends a very brief summary of business formats. Naz Daud is the Founder of the CityLocal Internet Business Franchise Opportunity. http://www.citylocal.co.uk http://www.citylocal.co.uk/frontend/franchiseinfo.php?cityid=79 http://www.citylocal.ie http://www.ecademy.com/account.php?id=120141 ]]> Professional Liability Insurance For Your Medical Business http://www.artwoo.com/article/professional-liability-insurance-for-your-medical-business http://www.artwoo.com/article/professional-liability-insurance-for-your-medical-business#comments Fri, 29 Sep 2006 02:27:04 +0000 professional liability insuranceliability insurance policiesmedical businessdoctorsmedical professionalmedical workforcemedical field http://www.artwoo.com/article/professional-liability-insurance-for-your-medical-business doctors, nurses, therapists, and pharmacists! You have studied hard, spent thousands upon thousands of dollars to attend school for what probably felt like thousands upon thousands of years, and now you are ready to enter the . You are ready to start working for a , or to open your own medical business. With a scalpel in one hand, a prescription pad in the other, and a stethoscope swinging around your neck, you are ready to cure the sick and save the dying.

However, before you start working, or open your own medical business, you must purchase . Otherwise, you might find yourself paying out thousands upon thousands of dollars -- again.

Remember, professional liability insurance isn't just for doctors and hospitals. Anyone working in the should purchase professional liability insurance.

There are different kinds of professional for you and your medical business, most of which cover allegations of malpractice. As a , you are familiar with professional liability insurance by now, and now that you are ready to start working or to open the doors of your own medical business, it is time to purchase your own professional liability insurance.

The kind of professional liability insurance you purchase for yourself and your medical business will usually depend on your specialty, the location of your medical business, and the demographics of your clientele. Along with your claims experiences and limits of liability you choose, these factors will also go into determining the cost of the professional liability insurance for yourself and your medical business, as well.

Search for professional liability insurance for yourself and your medical business based on the factors, and you can start by calling your state's insurance bureau and asking for information about professional liability insurance for medical professionals and medical businesses. They will be able to walk you through the steps of purchasing professional liability insurance. http://www.myquoteguide.com/Car-Tips.shtml http://www.ezquoteguide.com/home/ http://www.ezquoteguide.com/car/ ]]> Cheap Auto Insurance Companies http://www.artwoo.com/article/cheap-auto-insurance-companies http://www.artwoo.com/article/cheap-auto-insurance-companies#comments Sat, 22 Mar 2008 14:30:00 +0000 auto insurance agentcheap auto insuranceauto insurance companiescheapest insuranceminimum liabilityliability policymedical payments http://www.artwoo.com/article/cheap-auto-insurance-companies cheap auto insurance companies in virtually every state. While almost every state requires each of its drivers to buy it, each state also allows a cheap form of auto insurance to be sold to any driver who wants it. The that will legally allow you to drive in your state is a very basic, policy.

Each state sets its own minimum amount of liability insurance that its drivers must purchase. Check with a local or with your state's department of insurance to find out what the minimum amounts are in your state.

What you will be given is a string of 3 numbers something like 10/20/10. [Remember, 10/20/10 is just an example; your state may require more basic liability insurance than this]. So what does a 10/20/10 policy cover?

The first "10" stands for the maximum medical payment ($10,000) that the insurance will make for any one individual involved in an accident. This is regardless of how badly this individual is hurt or what the actual medical bills are.

The "20" stands for the maximum ($20,000) that the insurance will make for everyone involved in the accident, regardless of how many people are involved, the extent of their injuries, or what the actual total of all the medical bills is.

The final "10" in our example refers to the maximum amount the insurance will pay for property damage claims associated with an accident. Property damage includes, but is not limited to, the repair or replacement of the other person's vehicle.

A basic limited does not pay even one cent for the repair or replacement of your vehicle, nor does it pay anything toward your medical bills or the medical bills of anyone in your vehicle at the time of an accident.

Also, you need to be aware that should the medical bills or property damage suffered by the other party in an accident exceed the rather limited amount of the basic liability policy, you could be required to make up any difference out of your own pocket. This could result in the loss of any savings you have and it could result in the forced sale of your home in order to make good the debt.

Where can you find these cheap ? The best place is to simply look online. You'll find dozens of websites devoted to providing you with comparison price quotes from several different insurance companies, allowing you to pick and choose the best rate that you can find.

Just be aware that no one website compares the prices from every insurance company in your state. If you really want to be certain that you are getting the best rate possible from the cheapest company there is, then take the extra few minutes to make your price comparisons on 3 different websites, rather than relying on just one.

But once you've made all of your price comparisons and you've settled on the cheapest auto insurance you can find, you can feel good knowing that you are saving the most money possible, every single month. View some great sites that we recommend for saving a lot of money on insurance http://www.ezquoteguide.com/cheap-auto-insurance.shtml http://www.RecommendedInsurance.com ]]> Affordeable High Risk Car Insurance Online http://www.artwoo.com/article/affordeable-high-risk-car-insurance-online http://www.artwoo.com/article/affordeable-high-risk-car-insurance-online#comments Wed, 12 Mar 2008 22:20:00 +0000 minimum liabilitystate liabilitymedical paymentsliability policyliability insurancetypes of insurancedistinct possibility http://www.artwoo.com/article/affordeable-high-risk-car-insurance-online types of insurance to choose from (although there are many variations). You can choose to buy either full-coverage or you can choose to purchase a less-expensive but higher risk insurance.

If you are trying to save money you may decide upon the affordable high risk limited liability car insurance.

Each state sets its own minimum limits on the amount of that its drivers must purchase, so the amounts in the following example of a basic may not apply to your state.

Liability insurance is always expressed as 3 numbers in the form of: 10/20/10. In this example the first "10" means that the insurance will pay a maximum of $10,000 in to any one individual injured by your vehicle. The "20" refers to the fact that the insurance pays a maximum of $20,000 in medical payments for any one accident regardless of the number of people involved, and the final "10" means that the insurance will pay a maximum of $10,000 in property damage for any one accident. Property damage includes, but is not necessarily limited to, the repair or replacement of the other person's car.

What makes this type of insurance high risk is the fact that the amount of coverage is rather low, making it a that your basic liability coverage may not fully pay for all of the medical bills or the property damage caused by an accident. If that should be the case you may be held personally responsible for paying the difference out of your own pocket or purse. This could mean the depletion of your savings or even the forced sale of your home.

The other thing which makes a basic liability policy high risk is the fact that liability insurance pays nothing whatsoever toward the repair of your vehicle after an accident and it also does not pay for your medical bills or for the medical expenses of anyone riding in your vehicle.

It is possible to buy liability insurance with limits higher than the minimum amount required by your state - but the cost will be higher. You could also buy full coverage insurance, which includes collision, comprehensive and personal injury protection insurance in addition to liability insurance. Often a full coverage package also includes uninsured motorist protection. Again, the cost for a full coverage policy is higher than it is for a basic minimum liability policy.

The best place to find truly affordable high risk car insurance is online. You've probably seen the sites that allow you to compare the cost of car insurance from a number of different companies. The trick is to find at least 3 of these websites and fill out the form on all 3 of them, not just one site. In this way you will see the prices from many more companies and you have a better chance of finding the truly lowest possible price.

Also remember to answer the questions on all 3 sites the same way so that you are comparing the same policy on all three sites.

The final step is to compare all of the prices you have gotten and simply choose the lowest price you've found. That's it! You're done! View some great sites that we recommend for saving a lot of money on insurance http://www.EzQuoteGuide.com http://www.RecommendedInsurance.com ]]> Should You Incorporate Your Business? http://www.artwoo.com/article/should-you-incorporate-your-business http://www.artwoo.com/article/should-you-incorporate-your-business#comments Fri, 07 Dec 2007 15:29:59 +0000 federal tax idsocial security numberpersonal assetsfinancial entityillegal actsapplicable statutescorporate purposes http://www.artwoo.com/article/should-you-incorporate-your-business financial entity from yourself. Legally a corporation is treated as a citizen. It even has its own for tax purposes, called a .

Most people incorporate to limit their personal liability so that they shield their . For instance, if your incorporated business was sued and found liable for damages, the winner could not take your personal car or home. Furthermore, incorporating creates a more professional image, and often helps with your taxes. If you plan to receive outside investment to grow your business corporation is the way to go. Incorporation protects you in many regards, but it does not protect you from any criminal charges by you or the corporation. You can't hide behind your corporation to commit and expect to be free from liability.

By investing cash or other property in your corporation you become an owner of an interest. In exchange for your personal investment you are issued stock in the corporation. A person with that ownership interest is called a stockholder or shareholder. Once you become a shareholder your liability is normally limited to the value of the cash or other property you have contributed to the corporation in exchange for stock.

As a general rule, the shareholder's assets not invested in the corporation are safe from the corporation's creditors. A shareholder may become personally liable for corporate debts if the corporation is not formed in compliance with or it operates in violation of , or if the corporation is functioning as a mere front for its shareholders rather than for . In other words, if you are simply creating a corporation to avoid liability, may become personally liable.

Under certain circumstances, corporate officers may be held personally liable for the corporation's failure to pay state and federal income tax withholdings. Additionally, a shareholder may be required to personally guarantee a loan of the corporation in order to satisfy a lender. If a shareholder does so, his liability is no longer limited to the value of his investment in the corporation.

The business affairs of your corporation are managed by the board of directors and officers. The directors are elected by the shareholders. For this reason, while shareholders have the ultimate control of a corporation because of their stock ownership, the every day management lies with the board of directors through its officers. In small corporations the shareholders, directors and officers are often the same persons. George Meszaros with Webene http://www.webene.com ]]> Business Incorporation -- Your Guide To The Best http://www.artwoo.com/article/business-incorporation-your-guide-to-the-best http://www.artwoo.com/article/business-incorporation-your-guide-to-the-best#comments Sun, 23 Apr 2006 10:50:04 +0000 limited liability companyincorporating in californiaforming an llcnevada corporationpersonal assetsforming a partnershiplectric law library http://www.artwoo.com/article/business-incorporation-your-guide-to-the-best Lectric Law Library's Lexicon:

A business structure that is a hybrid of a partnership and a corporation. Its owners are shielded from personal liability and all profits and losses pass directly to the owners without taxation of the entity itself.

What should you now before joining in an LLC?

Forming a is more complex than , but is less complicated than forming and operating a corporation. Forming a limited liability company is a formal process.

In a limited liability company, a member's legal liability is limited to his or her investment in the business. Generally, a member's are not at risk, but a member's personal assets may be at risk if any of the following occurs:

A member personally guarantees a business debt. The form of business is found to be a sham (not properly formed or maintained). A member becomes personally liable as a result of his or her own acts or conduct.

Having said that, here are a few links to sites where you can find help for your incorporation or where you can incorporate.

www.executivesolutions.biz

Among the packages and services you can find at Executive Solutions is the opportunity to create a basic . In doing so, you are afforded a Nevada certificate of incorporation, the preparations that create that certificate, a resident agent, and an SS-4 form to get your EIN. Also, you can find the options to create your own LLC. Both the LLC option and the Nevada corporation option come in premium editions, where you pay a bit more but receive a lot more.

www.companiesinc.com

Companies Incorporated offers incorporation services in all 50 States. Whether you are incorporating or , Companies Incorporated is the premier online incorporator. We're located in Southern California extending our relationships with Secretary of State Offices, nationwide. If you are , or any other state, we have walk in services available; California Incorporation has never been easier or safer. Incorporating in California can also be expedited by covering additional state of California incorporation fees. So, Incorporating in California is a breeze when you choose us as your Incorporating agency. So, when you incorporate online, or are incorporating in California, or any of the 50 US states, you can trust the experience that Companies Incorporated has offered since 1977.

www.geccorpservices.com

GEC Corporate Services, LLC, is a professional services organization specializing in nation-wide research, document retrieval, filing and managing all of your Corporate and Uniform Commercial Code requirements. It is a member of the National Registered Agents Inc. (NRAI) Affiliate Network. NRAI is the preferred provider for Fortune 500 companies to start-up businesses. NRAI provides the highest quality professional service at a very affordable price.

www.corporate.com

Founded in 1899 by the architects of Delaware's corporate laws, The Company Corporation has the tools and know-how to make starting and running a business easy and affordable. With more than 100 years of experience, TCC provides a nationwide network, a Delaware-based call center and a wide variety of corporate services. The Company Corporation has the expertise you can trust -- one out of every seven new corporations in the United States turns to us for help in forming their new business.

Please consider protecting your wealth. It just might make the difference between retiring early and not retiring at all! John Thompson is editor of http://www.direct-2-desktop.net/ which offers resources and information on business incorporation. ]]> Low Cost Car Insurance - Where To Cut Costs http://www.artwoo.com/article/low-cost-car-insurance-where-to-cut-costs http://www.artwoo.com/article/low-cost-car-insurance-where-to-cut-costs#comments Thu, 18 May 2006 12:32:09 +0000 automobile accidenttortcar insuranceliablesplitproperty damage liabilitybodily injury http://www.artwoo.com/article/low-cost-car-insurance-where-to-cut-costs Car Insurance can be simplified once you begin to understand the declarations page. The declarations page is issued every time your car policy renews. The information on your renewal declarations page will give you all you need to know about how your policy is rated. The actual policy is very complicated because it is written in legal language. The declarations page is a synopsis of your protection and is divided into sections.

Section I -- Liability -- This section indicates the and limits. This section of coverage protects you in the event that you are found in an . Most car insurance policies have limits. 100/300/50 is a common split limit. The first two limits are the bodily injury limits. The 100,000 refers to the amount per person bodily injury liability limit and 300,000 is the amount per accident limit. The third limit is the property damage liability limit of 50,000.

Option -- Some states have a tort option. Full tort gives you an expanded right to sue for pain and suffering. Limited Tort limits that right and also reduces your overall premium.

Section II -- Physical Damage - This section is all about the physical damage to your automobiles. It is divided into two basic benefits. Collision insurance covers damage to your vehicle in an automobile accident. Comprehensive insurance covers your vehicle for theft, hitting an animal, glass coverage, fire, and several other miscellaneous occurrences.

Section III -- First Part Benefits -- This section applies to the first party insured and all resident relatives. This can vary from state to state. Medical expense, income loss, and life insurance are examples of first party benefits.

Cost Savings -- Your greatest risk for financial loss is when you are liable in a car accident and so it is not wise to carry low limits for liability. Higher deductibles for collision and comprehensive are an excellent way to reduce costs. Make sure that your home policy is with the same company in order to qualify for the multiple policy discounts. The limited tort option can save you up to 20%. The tort discount is only available in some states. Get Free, Low Rate Quotes http://www.ezquoteguide.com/car http://www.ezquoteguide.com/home/ http://www.ezquoteguide.com/health/ ]]> How To Form A Limited Company http://www.artwoo.com/article/how-to-form-a-limited-company http://www.artwoo.com/article/how-to-form-a-limited-company#comments Wed, 13 Aug 2008 08:08:28 +0000 becoming a limited companydividend paymentsregistering your businesssuperficial reasonshousehold namesole tradersnational insurance http://www.artwoo.com/article/how-to-form-a-limited-company household name is to form a limited company. Over the course of this article I will explore how to go about and the benefits of doing so...

The Benefits of a Limited Company?

Of course, the formation of a limited company sounds a fantastic idea -- it's a benchmark for how far your business has come and lends an air of legitimacy and respectability to all your future dealings. But behind these , there are also some obvious benefits to :

- The main advantage of the formation of a limited company is the limited liability status you are granted. This means that if the company goes into receivership the shareholders and officers' own assets are not at risk (provided you have always operated within the law!)

- and Partnerships pay tax on the first penny of profit they make. If you're a limited company, the first £10,000 of your profits is free from the taxman's grasp.

- Profits of the company can be paid as dividends to the shareholders. Currently is not applicable to , reducing your taxes further...

- As suggested above, your customers and suppliers are likely to have more confidence in a limited company ahead of a non-limited business. You may find that more people are happy to deal with you, making it easier for your business to continue its growth.

- No two limited companies are allowed the same name, so registering is a good way of protecting your brand outside of your region.

- There is no obligation for a limited company to begin trading immediately, so forming one is considered a lot cost and simple way to protect a business name. This doesn't in itself give the right to use the name, but it's a good for companies who anticipate future developments well in advance.

How's it done?

So now that you know the benefits that a limited company is allowed, how exactly do you go about become one?

While there are a lot of websites offering to help with the process, the cheapest and most straightforward way to form a limited company is to deal with Companies House directly. For this, you will need:

- A memorandum of association. This outlines the company name, its registered offices and what it does.
- Articles of association. These establish the rules for carrying out the company's internal affairs.

On top of this, you will then need to fill out Form 10 (which provides details of directors, the secretary and the registered offices) and Form 12 (a statutory declaration of compliance with all legal requirements surrounding the limited company's incorporation.)

Companies Houses charges a standard fee of £20 to form a limited company, but also offers a premium service that offers same day incorporation for £50, which should be considered if the funds are available and time is a factor.

If all this sounds a bit of a hassle (and it really can be -- mistakes are very easy to make in the process), there are simpler routes if you're willing to pay a premium. You can consult a lawyer or a business agreements specialist to ensure that the process is not delayed any more than necessary, although this will cost you. Alternatively, one of the quickest is to buy an "off the shelf" company from a company formation agent. This is one of the quickest routes, but expect to pay well over £100 for the privilege -- although of course you can shop around. An off-the-shelf business will already have a registered company name, but you can change this easily to the business name of your choice.

And that's the process of formation for limited companies. There are reasons to stay self employed, but from a tax perspective the positives outweigh the negatives!Iain Mackintosh is the managing director of Simply-Docs. The firm provides over 1100 business agreements covering all aspects of business from holiday entitlement to non-disclosure agreements.]]> The Ins And Outs Of Public Liability Insurance http://www.artwoo.com/article/the-ins-and-outs-of-public-liability-insurance http://www.artwoo.com/article/the-ins-and-outs-of-public-liability-insurance#comments Mon, 18 Sep 2006 16:27:07 +0000 public liability insurancepremiumscompensation claimsaccidentsproperty insurancebuilding insurancecontents insurance http://www.artwoo.com/article/the-ins-and-outs-of-public-liability-insurance public liability insurance is becoming more and more important. If you don't have public liability insurance included in your current , then now is the time to look at getting better cover. Here is some advice about why you need public liability insurance, and what to look out for:

What is public liability insurance?

Public liability insurance is an insurance policy that protects you from claims that other people might make against you in the event of an accident. If someone damages their property or injures themselves in or around your property or business then public liability insurance will cover you for any that might occur. Cover usually ranges from £250,000 up to £1 million.

What are you covered against?

Public liability insurance will insure you against or loss that others might suffer in or around your home or business premises. You are covered against claims from trespassers, as well as injury that might occur to anyone from falling objects or people carrying out repairs. If an accident occurs on your property and someone claims against you, your insurance will help you pay any compensation.

Included in your

Some contents or policies have in-built public liability insurance. You should check with your insurer whether this is the case, and what level of cover you have. Even if the insurance is included, you need to make sure that you are adequately covered for any accidents that might occur.



The premiums that you pay depend on the level of coverage you want. If you are simply covered your home, then premiums are likely to be lower than if you are covering a business. However, premiums are relatively cheap for the level of cover that you are afforded, and it is therefore essential for anyone running a business. With compensation claims on the rise it is also a good idea for homeowners to have adequate public liability insurance.

Dangers of not having insurance

If you don't have public liability insurance then you could end up with a massive compensation bill. If you are at fault or negligent and someone makes a claim against you, then you will have to pay the full level of compensation if uninsured. A claim might range from a few hundred pounds to a few million for more serious accidents. If you cannot pay the claim amount then you could lose your home and other possessions in order to pay for the claim.

Requirements

Some businesses are required to have public liability insurance, such as horse riding schools. Any type of business that has some obvious risk to the public will be required to have public liability insurance. Also, many businesses and customers will want proof that you have public liability insurance before they work with you, in case anything should happen and a claim is made. Peter Kenny is a writer for creditcards-gb For additional articles and an extensive resource for everything about credit cards, please visit us at http://www.creditcards-gb.co.uk and http://www.thriftyscot.co.uk/Insurance/ ]]> Need Help Setting Up Company? http://www.artwoo.com/article/need-help-setting-up-company http://www.artwoo.com/article/need-help-setting-up-company#comments Thu, 08 Jun 2006 18:32:06 +0000 small business administrationlimited liability companysbastock marketprivate companyform a companylegal risk http://www.artwoo.com/article/need-help-setting-up-company
The Basics.

A company is an entity, separate from you, that you need to create before you can do business. You decide what type of company it will be, you give it a name, and then you send off all the relevant papers to your government and pay any fees that need to be paid. Even for a one-person home business, it's good to -- it keeps the finances apart, and means that you can sell your company to someone else if you want to. Besides, it might be a legal requirement where you live anyway.

Before you do anything else, you should send off for the forms you need to start a company -- in the US, for example, you would talk to the (), while in the UK you would need to get in touch with Companies House. If you're not sure, your local Chamber of Commerce or your lawyer should be able to advise you.

Types of Company.

The chances are that you will want your company to be 'limited', which means that your own liability when it comes to debts and other legal issues is limited to a certain amount, usually the amount that you invested originally. While it is possible to start an 'unlimited' company, it offers no real benefit -- it just means that you take far more .

The choice between 'private' and 'public' companies should be equally easy. A can be of any size, and is owned only by the people who started it. A public company, by contrast, is one that can be traded publicly, and may be listed on the -- there will be a high minimum share issue requirement for this type of company that will put it well out of your reach, and formal qualifications may also be required.

So the kind of company you need is very probably a , usually abbreviated as 'LLC'.

Legal Requirements.

Before you can start a company, there are a few legal requirements you need to fulfill. You generally need to be over 18 and otherwise permitted to enter into contracts. You must not have been disqualified from being the director of a company, and you also can't be bankrupt.

So far so simple, right? One last sticking point is that you will usually require two people to act as the directors of your company, not just one -- you might have to ask your partner or a lawyer to be another director, or to act as a 'secretary'.

Fee Time.

You're likely to be hit for lots of different fees as you go through the process of setting up your company, but none of them should be too large. There will be a company registration fee, as well as a witnessing fee and perhaps some charges for stationery. You may be able to pay extra to have your company registered more quickly.

An Alternative.

If setting up a company sounds like hard work, you'll be relieved to learn that almost all sorts of people offer comprehensive company registration services that don't even cost all that much. Expect to pay about twice as much as the standard do-it-yourself fees, but it's hardly going to break the bank anyway, and it can save you a lot of trouble both now and later on to get things done properly. If this is what you want to do, speak to a lawyer, an accountant, or even a specialised 'company formation agent'.

Your Obligations.

Finally, be aware that from the moment you set up a company, you may have some obligations placed on you. The largest of these is tax reporting, where you will be required to send in a tax report every tax year. Forgetting to deal with tax issues could land you with a fine, so make sure you understand exactly what you've signed up for. You might also be required to do things like putting a small sign with your business' name on the front of your business premises (your house), or to start writing your company registration number on business-related letters you send. Discover the Incredible Article Marketing Secrets That Successful I Use to Create Multi Five-Figure Cash Profits Each and Every Month. Go to http://www.articlemarketingguru.com You may reproduce this article as long as an active hyperlink is accompanied. ]]> Company Vehicle Programs Verses Paying IRS Mileage To Employees http://www.artwoo.com/article/company-vehicle-programs-verses-paying-irs-mileage-to-employees http://www.artwoo.com/article/company-vehicle-programs-verses-paying-irs-mileage-to-employees#comments Tue, 20 Nov 2007 06:25:01 +0000 irs mileage allowancecompany vehiclesliability exposurepersonal vehiclesbusiness milespersonal injury accidentfuel efficient car http://www.artwoo.com/article/company-vehicle-programs-verses-paying-irs-mileage-to-employees personal vehicles, or use company cars. With the increase in the , those companies who currently pay employees the IRS reimbursement rate for are leaving money on the table relative to having a company vehicle program. And this is especially true for those with higher business mile drivers.

As we review the economics, putting drivers who travel more than 12,000 business miles a year in a company provided or SUV, like a Chevy Impala or a smaller SUV, is a no-brainer relative to paying IRS mileage. But an important factor to consider is what your from either method is, in regards to personal or business use of . There are some interesting facts that most people may not be aware of when taking these decisions into consideration, and educating oneself on the history of cases and all current federal, state, and local laws is important.

Most businesses focus on the liability the company takes on when adding a company vehicle program. This makes sense, and is a common practice in order to try and evaluate potential risks for a company. For example, if an employee is driving a company vehicle for personal matters, and becomes involved in a where they were at fault, there is liability exposure there. And it is understandable that an employee's company would not want to be held accountable for damages incurred if said employee didn't follow specific rules and guidelines regarding company vehicle use. However, the largest liability damage awards in these cases, which are well into 7 figures, involved employees driving their own personal vehicles on company business, not company vehicles on personal business. So now the situation is reversed, and if the employee became involved in a personal injury or death accident where they were at fault, the company would then be held liable for a higher portion of damages.

So the facts speak for themselves in this case; larger liability exposure comes from allowing employees to drive personal vehicles on company business, and not the other way around. And sometimes driving a personal vehicle for company business is a common situation that can not be avoided easily, which will put a company at a greater liability risk. Evaluating risk is a tough decision for any individual or company, but paying IRS mileage in addition to covering personal injury liability becomes much more expensive than a well maintained company vehicle program. And there are ways to further reduce the costs of such programs, which makes them affordable for more businesses that most people are aware of. Especially in regards to leasing options, or using hybrid or alternative fuel cars and trucks, there are numerous options available when choosing a company vehicle program that is right for your business.

Copyright =A9 Flex for the Future http://www.flexforthefuture.com Flex for the Future provides alternative fuel vehicle leasing of hybrid cars and biodiesel trucks to agricultural businesses. ]]>