At the Last-Minute: Business Protection and Tax Deductions

You are your business’ most valuable asset. Your skills and knowledge are unique. No one can replace you. What would happen to your business if you were unable to work for an extended period of time due to an illness or injury? Would your business survive? If you have Business Expense Protection insurance, it could. If you’re thinking about the new year and your business’ future, Business Expense Protection is the perfect investment. The insurance guarantees that your business will remain open until you are able to return to work, or you decide to sell it. The insurance also offers an immediate tax deduction if obtained before December 31.

If you don’t have the out-of-pocket money to sustain your business for an extended period of time, you may want to consider purchasing Business Expense Protection. The insurance protects your business while you recover from an injury or illness. Benefits are paid as a reimbursement for the everyday expenses, such as staff salaries, rent, utilities, taxes, and more, each month. The insurance applies whether your disability is total or partial and works alongside Social Security and Worker’s Compensation.

If you still aren’t convinced about the benefits of buying Business Expense Protection, here are a few more:

  1. The premium is tax deductible as a business expense.
  2. The premium is affordable.
  3. The taxable benefits are offset by tax-deductible business expenses.
  4. It provides benefits for business expenses not covered by an individual income protection disability insurance policy.
  5. It includes customizable options, such as the Surrender Value Rider – similar to no-cost life insurance – and the Guaranteed Insurability Rider, which provides an additional coverage option as your business expenses increase.
  6. It keeps the doors of your business open.
  7. It can prevent a forced sale or fire sale.
  8. It protects your occupation and job security.

If you want to protect your business’ future, you need to have Business Expense Protection. Call Flor and Associates Insurance Agency for more information.

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