For possessions that are more valuable, it is important to obtain valuable items coverage. Items such as original art, expensive jewelry and collectors' items are some examples of what this coverage is useful for. Homeowners' policies place limits on the amount of money provided for personal items, but this supplemental form of insurance goes beyond that to cover specific valuables. If they are stolen, destroyed in a fire or lost to a natural disaster, the policy will cover them.
Running a business out of your house has many rewards: no commute, less time-sucking small talk, no missed time with your family.
But before you settle into the bliss of this heaven on Earth, remember that, in the end, you are still running a business. Working from home has all kinds of pitfalls that need to be avoided if you are to succeed.
Here are five no-nos to avoid when running a business from the comforts of your abode:
As life circumstances change, it is important to review insurance coverage. There are several issues every policyholder should consider when doing this.
If you're a safety-minded driver and it's been a while since you've looked at new cars, you're going to be pleasantly surprised. When it comes to automotive safety and technology, it's not your father's Oldsmobile. The Industry, responding to consumer and regulatory pressure, has come up with loads of innovative safety features well beyond the dual airbag and the anti-lock brakes of a generation ago.
After purchasing any valuable jewelry, homeowners should contact their insurance agents quickly to update their policies. There is only limited coverage for expensive jewelry on a typical home insurance policy, so the owner may not receive the full value of the item if it is stolen or destroyed. Most home insurance policies allow coverage of possessions up to 50 percent of the amount of insurance chosen. For example, a person choosing insurance of $400,000 would have coverage for up to $200,000.
The Insurance Institute for Highway Safety issues a list every year of their top recommended used vehicles for teen drivers. When parents buy cars for their teens, they typically either buy cars that their kids like or used cars that parents think are practical. However, many of the cars chosen by well-meaning parents are not the safest options for teens. It is especially important to provide these new drivers who are still developing their road skills the best cars for their safety and the protection of other motorists on the road.
We've put a few years between us and the Great Recession. But Americans' expectations concerning their retirements don't yet match the reality.
That's the central finding of a recent report from the Transamerica Institute, The Current State of Retirement: Expectations and Realities, released in December 2015. The study surveyed both retirees age 50 and older and people currently in the work force age 18 and older to see whether the reality faced by those currently in retirement was anything close to what those currently working expected or were planning for. The study found significant disconnects across the board.
Under current law, any estates are subject to a substantial estate tax of up to 40 percent on assets in excess of $5.45 million.
That's where survivorship life insurance - also called "second-to-die" life insurance - comes in. A second-to-die life insurance policy pays out an immediate cash benefit, tax-free, upon the death of the second spouse - not the first one.
As art markets draw increased attention with record-setting auction prices, wealthy individuals and families are increasingly turning to valuable collections of paintings, sculptures and other classes of fine art for investment diversification as well as aesthetic enjoyment. Christie’s reported 2014 sales of art and collectibles of $7.7 billion, the highest auction house figure in the history of the art market, once again shined a spotlight on art collections as a dynamic asset class.
If you are a self-insured employer or other organization that provides minimum essential coverage (as defined in Internal Revenue Code Section 5000A(f) to any individual during the calendar year, you have some reporting responsibilities to the Internal Revenue Service. Furthermore, if you file 250 information returns or more during the calendar year with the IRS, you must report this information electronically, not later than March 31st(February 28thif you file manually rather than electronically.