Mileage Deductions 2009 - Protect Your Assets
The Gas Mileage Bible
by Kenny Joines & Ron Hollenbeck

The Gas Mileage Bible is a must for anyone who drives a car. It's easy to understand if you do not know a lot of about cars, yet it has lots of information that would even interest those weekend mechanics. The authors provide simple scientific explanations on what causes losses and gains in fuel economy. In addition, they lay out clear-cut gas-saving solutions, breaking them down into straightforward categories: "no tech", "low tech", and "high tech", which makes it easy to understand how quickly and easily you can implement each solution.

One person improved their fuel economy in their two vehicles by at least 2 mpg without buying any upgrades or gadgets. They feel that "high tech" implement that can improve fuel economy even further. A must read if you drive a car

     

Mileage Deductions 2009 - Protect Your Assets

Mileage Deductions 2009 * Protect Your Assets

Limit Your Liability to Protect Your Assets   
J. Stephen Pope

If your business runs into serious difficulty, will it bring you down too? For example, what if one of your employees got involved in a serious car accident while working for you? Will the resulting lawsuit bankrupt you personally?

Here are just a few ways of protecting yourself against catastrophic losses and lawsuits.

Article to continue below----------------------------------------------

Ohio House OKs Mileage Rules; Teen-protection Bill Goes To Governor (The Toledo Blade)
By JIM PROVANCE BLADE COLUMBUS BUREAU CHIEF COLUMBUS - The Ohio House yesterday overwhelmingly voted to require its members and their Senate colleagues to travel the distance between their residences and...

----------------------------------------------------------------------------

1. Obtain Adequate Insurance Coverage

If someone slips on the sidewalk of your home and injures himself, he could sue you for damages. Your tenant`s or homeowner`s policy may cover you for liability in such an event.

Article to continue below----------------------------------------------

Doxsey's Mileage Pay Led County In 2009 (Poughkeepsie Journal)
The head of the Dutchess County Legislature has asked the county comptroller to investigate the mileage expenses of the lone Conservative legislator, who said he has not abused the reimbursement polic...

---------------------------------------------------------------------------

However, what if it is your customer who falls on his way to visiting your home-based business? You will need an extra rider on your house insurance to cover such incidental business use. The extra charge for this additional coverage is well worth it.

If you use a car for business use, insure it for such. Some people think that they are being clever writing off automobile expenses for income tax purposes but at the same time not informing the insurance company that the car is being used for business.

This is false economy. If you ever get into an accident, police and insurance investigators will certainly find out that you used the vehicle for business purposes. If you`re not paying for business coverage, why would the insurance company cover your claim?

As well, what do you think an income tax auditor would think of your claimed business expenses on the vehicle when your insurance policy indicates personal coverage only? Avoid this additional exposure to tax liability.

Be sure to obtain required workers` compensation coverage. Some have been held responsible for all the medical and other expenses of an injured worker, as well as fines for non-compliance to the law. These costs can be quite substantial and even bankrupt you.

Consider obtaining product liability insurance. This applies not just for any products you manufacture but also for products you sell that are made by others.

2. Incorporate Your Business

Insurance may give you some protection against loss. However, you may suffer business losses and lawsuits that may not be covered by your insurance fully. What then?

An extra level of protection can be obtained by forming your own corporation. Even though incorporating yourself will result in extra paperwork and costs, it could be the best insurance you ever bought.

This is because the corporation is a seperate legal entity or person. Even though you may own the corporation, if the corporation operates the business, it is the corporation that will be sued or suffer loss.

If, for example, the corporation had severe business losses resulting in debts that could not be repaid, the corporation would be insolvent. You, as a shareholder, would lose your investment in the company but would generally not be responsible for any of its debts. Thus, you would not have to sell your home or other personal assets to cover the corporation`s liabilities.

On the other hand, there are cases where directors of a corporation can be held responsible for liabilities if they didn`t act responsibly. You can`t hide behind a corporation, commit criminal acts and expect to escape accountability.

For more information about incorporation, visit: http://www.yenommarketinginc.com/incorporation.html

3. Protect Yourself With Legal Agreements

Properly drafted written agreements can protect you in many ways. First of all, they can sometimes prevent misunderstandings that can lead to legal problems. Secondly, they may limit your exposure to lawsuits and losses.

Contracts can limit your exposure to liability by including provisions restricting the scope of your work and responsibility, having disputes handled by arbitration rather than through the Courts, and specifying that the maximum damages payable shall not exceed the amount of the contract.

A special area to watch out for is the Internet. There are many laws that impact on websites including matters affecting children, privacy, earnings claims, and unsolicited e-mail ("spam"). Certain agreements and notices on your website may help to protect you.

For more information about Internet law, visit: http://www.yenommarketinginc.com/internet-law.html

Protect yourself from catastrophic losses and lawsuits. Take steps today to protect your assets by limiting your exposure to liability.



J. Stephen Pope, President of Pope Consulting Inc., http://www.popeconsultinginc.com/ has been helping clients to earn maximum business profits for over twenty-five years.

For valuable Work at Home Small Business Ideas, visit: http://www.yenommarketinginc.com/

Article Source: http://EzineArticles.com/?expert=J._Stephen_Pope

Who are the CPA Moms?      Your Tax Professional Forever!!!!

“CPA Moms - Tax Moms - EA Moms" are trade names given to Accounting and Tax Professionals who chose to work in an “relaxed” environment. Some "Moms" work from home, other work from personal offices. Not all are Moms, there are some Dads. We call them Mr. Tax Moms. CPA Dads or Enrolled Agents Dads.
Each Mom is independent. Once a client starts working with a Mom, the client will keep the same “Mom” year after year regardless of where the client moves or relocates. Being in a “relaxed” environment has many advantages. Lower overhead, faster response time, more availability, etc.
To be a member a CPA Mom, Tax Moms, or an Erolled Moms the Tax Professional must ALWAYS be in good standing with their state licensing agency, experienced, and must demonstrate a high level of ethics, professionalism and proficiency.
Tax Net Inc, the parent company for all CPA Moms, Tax Moms and Enrolled Moms, developed the marketing and on-line systems to help qualified Tax Professionals who "choose" work from their “relaxed” environment and offer better service at a lower price to the consumer.
Since the “Moms” do taxes and accounting of all complexities, there is always a Mom available for every level of work. Since each Mom has a private 800 number, you are just a phone call away, regardless of where you live.
For reliability and dependability of Tax Net, Inc, the parent company of the “Moms” organization click on the Better Business Bureau (BBB) icon.

To Join CPA Moms

Click for accredited member's reliablility report.

Privacy Policy    About Us    Disclaimer    Copywrited 2005  - 2010 & Developed by  Tax Net Inc

Index of Articles about Mileage

What Other Authors say about IRS Mileage Deductions

How to Get the Best Fuel Mileage of Your Car And Save Gas Money by Sunny Tan

Recent technology advancement in automotive industry has seen an upsurge in improving the fuel economy of our car engines and thus making them as efficient as they can be. Heavy investment has been poured...

Better Gas Mileage for Truck is Easy and Affordable by Carl LaFresnaye

There are many Truck and SUV gas savers. You can get more miles per gallon if you use some of the performance enhancing and fuel saving products for your truck. Actually, the best way to get Better Gas...

Car Loan Refinancing by Simon Gelfand

When you bought your own car, you might not have found the best financing deal. >P>You could have taken out your car financing through a car dealer at an interest rate that is possibly higher than other...

Gas Mileage Enhancers - how to get better gas mileage by Paul

There are many car repairs you can (and should) do to get better gas mileage. Since almost every system in your vehicle can affect gas mileage, here are some of the more common repairs to increase gas...

Example of Lease Agreement by Adam Smith

What is in a lease agreement? That is an excellent question, and if you have never seen a lease agreement don't worry, you are not alone. For those just now graduating from high school and heading off...