Business Interruption Insurance: Protecting Your Company from the Unexpected

Your business is your pride and joy. And if you’re like most owners, you’ll do whatever it takes to protect it at all costs. But, you can’t always protect your company from unexpected events, like natural disasters. To keep your business safe and help it stay afloat if disaster strikes, consider investing in business interruption insurance. Read on to learn about interruption insurance, including whether or not it covers coronavirus-related claims.

What is business interruption insurance?

Business interruption insurance, also known as business income insurance, is coverage that replaces business income lost due to a disaster. The insurance can help a business continue to pay its bills while it is temporarily closed because of a disaster.

Typically, business interruption insurance is a part of a business insurance policy. In most cases, it is not a standalone insurance policy business owners can purchase.

Keep in mind that the definition of “disaster” may vary depending on your business’s insurer. Business interruption insurance may cover the following types of disasters:

• Fire
• Wind
• Storm
• Theft
• Damage to property (e.g., tree falls)
• Other natural disasters


• Who can receive interruption insurance?

  Any business owner can get business interruption insurance through their insurance company. Many business owners get interruption insurance if they have a physical business location that needs protected from covered disasters (e.g., property damage).
  Small businesses may get a policy that includes things like property, liability, and business interruption coverage.
  Home-based businesses and self-employed individuals may also be able to receive business interruption coverage through a homeowners insurance policy.

  What does it cover?

  Business interruption insurance covers a number of expenses that a company may not be able to pay due to a disaster, including:
  • Lost revenue
  • Fixed costs (e.g., operating expenses)
  • Relocation costs
  • Commission and training costs
  • Employee wages
  • Taxes
  • Loan payments
  • Mortgage, rent, and lease payments
  Generally, business interruption insurance doesn’t cover utilities, short interruptions (e.g., power outage), or partial interruptions (e.g., scaled-back operations).
  Your business interruption insurance likely also has a restoration period. A restoration period is the length of time that your policy helps pay for lost income and expenses while you restore your business. Some plans cover up to 12 months of losses while others can cover up to 18 or 24 months.
  Business interruption insurance coverage varies. For example, some insurance companies may cover relocation expenses while others might not. Check with your insurer to see what is covered under your business interruption insurance policy.

  How much does it cost?

  The cost for business interruption coverage depends on your insurance agency, industry, number of employees, and the amount of coverage you need.
  Rates may also vary depending on your location and amount of risk. If your business is located in an area with an increased risk of natural disasters (e.g., hurricanes), you may need to pay more than businesses in lower-risk areas.
  Before you invest in a business interruption policy, determine a dollar amount for the coverage limit by looking at things like profits for 12 – 24 months and related expenses (e.g., payroll and relocation costs). That way, you can be prepared when you discuss insurance options with your provider.

  How do you get business interruption insurance?

  To get business interruption insurance, talk to your insurance provider about your options. If you don’t already have interruption insurance, your business’s insurance provider may be able to add it on to your plan.
  Do your homework before committing to a provider or plan. Find out what each potential insurance provider covers for your business and compare pricing.

  Do I need a business interruption policy?

  You never know when disaster is going to strike your business. So, it’s always better to be safe than sorry. If you’re not sure if your business needs interruption insurance, consider the pros and cons of getting insurance and think about the following questions:
  • Where is my business located?
  • Am I in a high-risk or low-risk area?
  • Have other businesses near me experienced a disaster?
  • Will getting insurance be better for my business in the long-run?

  Business interruption insurance and COVID-19

  So, the question and answer you’ve all been waiting for: Does business interruption insurance cover coronavirus claims and temporary business closure due to pandemics? The answer … probably not.
  In most cases, business interruption insurance only covers lost income and expenses for property damage-related claims due to a disaster (e.g., hurricane). Most business interruptions policies likely will not cover lost profits from the coronavirus or any future pandemics.
  Standard interruption insurance doesn’t cover claims related to incidents like the COVID-19 pandemic. However, it all depends on the insurer and the contract. Most policies specifically exclude losses from pandemics because they impact all companies simultaneously. Many insurers began adding virus and pandemic exclusions to their business interruption insurance policies after the SARS outbreak in 2003.
  The language of the contract can play a huge role in whether or not things like the coronavirus are covered. Policies that don’t specifically exclude viruses may be able to provide some type of coverage for businesses that had to temporarily close down due to the coronavirus crisis. Check with your insurance provider to find out whether you can claim coronavirus-related losses under your policy
  Have questions, comments, or concerns about this post? Like us on Facebook, and let’s get talking!
  This is not intended as legal advice;

What Is the Penalty for Late Tax Return?

Forgetting to submit your tax return can be stressful. And even worse, the IRS can charge you a late filing penalty. Read on to learn about the penalty for late tax return and what you can do to avoid future penalties.

Penalty for late tax return

If you earn or receive income, you likely need to file an annual tax return, like Form 1040, U.S. Individual Income Tax Return. You use Form 1040 to report income and deductions to the IRS.

The individual tax return due date is April 15 each year. If the due date falls on a weekend or holiday, your tax return moves to the next business date. If you forget to submit your tax return by April 15, you may receive a penalty from the IRS.

If you own a business, your business structure impacts your business tax return due date.

What is the penalty for late tax return? The penalty you receive for a late tax return depends on your situation.

Common reasons for late tax return penalties include:

• Failing to file your tax return by the due date
• Failing to pay the taxes you report on your return by the due date
• Not paying enough taxes for the year with estimated tax payments

The IRS calculates your penalties based on the above factors. To get a full breakdown of different penalties for failing to file or pay your tax return, visit the IRS’s website.

Whether or not you owe money to the IRS has a huge impact on the penalties you receive.  And in some situations, the IRS does not penalize you.

No penalties

If you don’t owe any money, you have little to worry about. Taxpayers who submit a late tax return and don’t owe money typically are not penalized.

Although you won’t be penalized, you should still file your tax return as soon as possible. For tax year 2018, the absolute latest you can file is April 15, 2022. If you file an extension, your tax return is due by October 15, 2022.

If you miss your Form 1040 deadline, your refunds are turned over to the U.S. Treasury.

Again, you do not receive a late penalty if you are receiving a tax refund and you do not owe money to the IRS.

Penalties for businesses

If you own a business and miss your deadline for filing, the IRS says you should file your business tax return as soon as possible. And if you owe business taxes, pay those as soon as possible.

Depending on the business and situation, you might receive a small financial penalty for a late filing or payment (e.g., interest fees). But in most cases, the IRS will accept your late payment with little hassle.

If you’re close to your deadline or miss it, consider e-Filing your late return if possible to speed up the process.

Late filing and payment penalties

Ultimately, the penalty you receive depends on whether your filing or payment is late. Take a look at the different types of penalties for paying or filing your tax return late.

Late filing penalties

You will likely receive a late filing penalty if one of the following is true:

• You owe taxes and didn’t file your return or extension by April 15
• You filed an extension but did not file your return by October 15

Late filing penalties can include:

• Paying 5% of the additional taxes owed for every month your return is late, up to a maximum of 25%
• If you file more than 60 days after the due date, you must pay the minimum penalty of $205 or 100% of your unpaid tax, whichever is higher

Late payment penalties

Late payment penalties apply if you did not pay taxes owed by April 15, regardless of if you filed an extension.

If you’re guilty of the above, penalties you’re subject to include:

• Paying 0.5% of the additional tax you owe for every month your tax remains unpaid, up to a max of 25%

If there are any months where both the late payment and filing payment penalties apply to you, the IRS waives the 0.5% late payment penalty.

Interest fees

Interest compounds daily and starts accumulating on unpaid taxes the day after your due date until your bill is paid off. Currently, the interest rate is 5%.

How to pay late tax return penalty

In most cases, the IRS will mail you a letter stating how much you owe in penalties.

If you need to pay a late tax return penalty, follow the instructions in your penalty letter and submit your filing or payment to the IRS as soon as possible.

If you can’t pay taxes on time or file your tax return, contact the IRS for additional options (e.g., installment plan).

Penalty relief

Before you begin paying off your penalties, look into penalty relief. Eligible individuals and businesses may be excused from paying certain penalties.

Penalties eligible for relief include:

• Failing to file a tax return
• Forgetting to pay taxes on time
• Not depositing certain taxes

If you made an effort to comply with IRS requirements but were unable to meet your obligations because of circumstances beyond your control, you may be able to take advantage of penalty relief.

Check out the IRS’s website for more information about whether or not you qualify for penalty relief.

Avoiding a late tax return penalty

Forgetting to submit a tax return can happen to anybody. To help avoid being tardy on future tax returns, use the tips below:

• Prepare and pay (if applicable) your tax return in advance (e.g., one month before the due date)
• Add reminders on your calendar to help remember your due date
• Have a designated person remind you about your tax return due date
• Create a plan in case you forget to submit your tax return
• Use software so you aren’t scrambling to put your records together
• Want to inspire our next article? Connect with us on Facebook and let us know your ideas or the questions you want answered!
• Randall Jenkins is the Owner of Jenkins Tax Services & Business Consulting LLC

This is not intended as legal advice;

Power Lead System

You heard about the new Power Lead System …

But can you really make money promoting it?

In this “Power Lead System Review” let’s take a hard, honest look at the program – both the pros and cons – so you can make the right decision for you and your family.

POWER LEADS SYSTEMS REVIEW

Hi, my name is Randall Jenkins.

Since 2013, I have made a full-time executive income working part-time in our spare time online.

In the past few years our income has increased dramatically.

Why?

Because a few years ago we started promotion affiliate programs like “Power Lead Systems” that paid more than the average, standard 20, 30 even 40% commissions. And…

That was the difference that made all the difference.

Today this new breed of affiliate programs are STILL HOT… and the Power Lead System has proven to become of the best because they offer a unique twist in their compensation plan

Now, before we go too much further…

Check this out…

POWER LEAD SYSTEM REVIEW

Did you watch the video?

If not, why not?

The reason I ask is because MOST people join programs because of the hype and promise of making easy money fast.

Yet the unfortunately reality is MOST people never make a dime.

Because MOST people really have no clue what they are getting into and they really want to believe “this time” or “this product” or “this new shiny deal” will somehow magically sell or promote itself when, in reality…

…well, you and I both know better. Right?

A product, service or business opportunity WILL NOT sell itself.

So do yourself a favor, click the button, sign up free and DO YOUR DUE DILIGENCE.

Take a close, hard, open-minded minded look at the entire Power Lead System product first – then come back and let’s dissect the money-making reality a bit more.

WHAT IS POWER LEADS SYSTEM?

According to the company’s mission statement:

Power Lead System provides entrepreneurs with all the online tools and training necessary to start and grow their business, generate leads, make more sales including the ability to create unlimited lead capture pages, unlimited sales pages, unlimited sub-domains, video post cards, entire sales funnels, unlimited auto-responder campaigns, unlimited broadcasts to your list, ad tracking, floating capture forms, the ability to create and share entire sales funnels, and more.

PLS gives brings value to the table in two different ways:

• The potential to take your existing business to the next level by giving you instant access to powerful state-of-the-art online tools, relevant training, and weekly coaching to help you achieve more success.
• A way to earn leveraged, residual income through their hybrid Affiliate program.

You do not have to become an affiliate to sign up for the FREE LEADS FOR LIFE program, purchase products or enjoy the benefits of hanging out with a community of like-minded entrepreneurs. Signing up to make money with PLS is completely optional.

POWER LEAD SYSTEMS PRODUCTS

The product and training lineup offered by PLS is constantly changing to keep up with what is working best today.

As of June, 2019, here is a list of the current products affiliate earn commissions on:

• Lead Lightning
• Lead Lightning Residuals
• PLS Residual Commissions (Gold)
• $147 Free Ad Secrets (Diamond)
• Social Profit Academy Generation 1 (Platinum)
• Social Profit Academy Generation 2
• Master Traffic Institute Generation 1
• Master Traffic Institute Generation 2

POWER LEAD SYSTEM COMPENSATION PLAN

Here’s the bottom line…

If you do not promote the Power Lead System you will not make any money.

None. Nada. Zip. Zero. Zilch.

If you do promote the program by taking consistent action over an extended period of time – you may go on to make quiet fortune in the next few months (and we’ll talk more about the HOW to promote the system here in a minute).

Because the “twist” that makes this program so unique is you earn a 50% matching bonus on all the monies earned by the people you refer to PLS as long as they stay active.

It’s a brilliant twist on an already proven model.

Here is how the brilliantly simple, yet powerfully profitable power lead system compensation plan – the 2-tier comp plan works:

IS POWER LEAD SYSTEM A SCAM?!

Search the internet far and wide for “power lead system scam” and I’m confident you will find dozens of different blog posts, forum posts and even Youtube videos that fall into one of two categories:

• People who got in, did nothing and are disgruntled about it
• People who simply use the word SCAM to catch attention

Promoting a “scam” headline is a pretty popular way to drive visitors to your product reviews because it works.

No one wants to get cheated out of their hard-earned money so if you promote a WARNING – it catches attention. Then, of course, you simply let people know it there is nothing to worry about.

But the majority of “scam” posts you find will come from people who simply BOUGHT THE DREAM without thinking it through as a business. How will you promote the program? How will you get traffic, leads and sales?

So let’s talk more about that now…

POWER LEAD SYSTEM MARKETING PLAN

I actually signed up for the program after spotting a post on Facebook.

I clicked the link, watched the videos and immediately signed up on the spot.

When you first log in this is what you see:

and all you need to do to get started is to CLICK THE EASY BUTTON.

It will take a just a few minutes to set up a new lead account to generate leads for life. It make take a few hours to a few months to discover ALL the powerful tools you will now have your hands on to take your business, income and lifestyle to the next level.

UNLIMITED EMAIL FOLLOW UP CAMPAIGNS, SMS TEXT AND ECARDS

SET UP WEBSITES, SUB-DOMAINS, AUTOREPONDERS AND TRACKING

 PROMOTE ANY BUSINESS

LEVERAGE YOUR BEST PROSPECTS & CUSTOMERS

ACCESS EVERGREEN TRAINING WHEN YOU NEED IT

KEEP TRACK OF AFFILIATE COMMISSIONS EARNED

So one of the fastest, easiest ways to get into profit is to simply SHARE the program with your friends on Facebook, Twitter and LinkedIn.

• If you have an email list, send out a broadcast.
• Visit a few forums about “making money” and write a few “reviews” and post them (this is free).
• Post ads on free classified sites.
• Post video reviews on Youtube
• Write a few blog posts
• Run a few paid ads

In the back office PLS, you will be given access to private training and tools designed to help you promote the program for profit.

The difference that makes all the difference is YOU.

Will YOU follow the step-by-step instructions, sign up, and take CONSISTENT effort over time?

If you do, you will make money. If you don’t, you won’t.

Simple as that.

Plus, keep in mind you only need to sign up ONE person like me and… that’s it!

If you did nothing else, ever… you will still make money!

Once you get into the back office, you will find PSL is really a complete marketing system in a box and the WHAT you decide to promote is entirely up to you.

Power Lead System comes with a handful of ready-to-go splash pages and videos that promote PLS so all you need to do is sign up and drive traffic.

Buy you can also build your own splash pages with the system and promote anything else you might be involved it.

Bottom line – the program gets TWO THUMBS UP from me.

Bless and be blessed,

Randall Jenkins

JOIN TODAY and I will show you EXACTLY how we are producing our results and how you can actually get me to help you build your business on complete autopilot so you can truly EARN WHILE YOU LEARN how to leverage your new PLS business to make 100k (or more!) in the next 12 months (or less!)

Power Lead System Update New Power Lead System How To Earn Daily

1) Go to: http://isr.jenkinsmarketinggroup.com/
2) Start your free trial
3) Upgrade to minimum GOLD (become an affiliate) in your back office.
4) Start getting unlimited leads: http://isr.jenkinsmarketinggroup.com/

I will then email you everything you need, including our training.

In this video the Power Lead System review for 2020, learn how to make money with the opportunity while promoting your primary business. If you currently don't have a primary business Power Lead System can be just that! Follow the steps below to get started. With the power lead system you will receive "Done for you funnels" Copy & Paste Share Codes, How to Use Free & Paid Traffic to Earn Consistently, and support from me every step of the way! :)

Step 1: Visit the site below to get more info
YOUR POWERFUL MONEY MAKING FUNNEL: http://isr.jenkinsmarketinggroup.com/

Step 2: Send me an email when you are all set so you can get the step by step training to set up your money making funnel: jenkinsrandall@gmail.com

Step 3: Call me directly to get started or with questions
512-589-0744

Step 4: Send me a direct message on facebook so we can connect there.
https://www.facebook.com/jenkinsrandall....

Step 5: Join our Facebook group: https://www.facebook.com/groups/10739......


If you have questions about the enrollment process, feel free to call me at (518)364-6568

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SoManyHits.com: Read this before you join

Right out of the gate the company boasts a sign-up rate of 83% for people viewing the presentation video to completion. While I can not attest to that it could be legit as the program is completely free to join.

So what is the catch?

While the program is free to join, they do have upgrade options. Before I get to the upgrade option I have to mention that the free account is more than generous. You also don't get hit with OTO's (one time offers) when signing in to your account.

Before getting into all the benefits you get as a free member, let's first delve into what SoManyHits is...

Like the sales video explains, SoManyHits.com is first and foremost a URL tracking and shortening service, meaning you can shorten all your affiliate links and track how many clicks they receive. Unlike mostly all other tracking services (even the paid ones), there is no limit on the amount of campaigns you can create or clicks you may receive during a given month before shelling out more money to keep on tracking. This is true even for free members.

They also made it easy to track multiple advertising sources from the same campaign tracking URL by simply adding a keyword identifiable to you to the end of the tracking URL. When a shortened tracking URL is followed, the hit is recorded and displayed in your back-office, complete with a break-down of where the hits came from (keywords appended).

The service also promises to create a flood of traffic to any and all campaigns that will keep on doubling. While this may sound outrageous, it is actually very likely to happen because of their unique referral system. Well..., when I say unique, for those of you familiar with their sister site EasyCash4Ads.com, it actually makes use of the exact same 2-up referral system where your first two referrals are passed up to your sponsor into what they call traffic lines. Every person who ends up in one of your traffic lines will first have to sponsor two people who will go to their sponsor, which means that particular traffic line keeps doubling.

If you are put off by the notion that you first have to refer two people that goes to your sponsor before the system can begin working for you, the good news is that sign-ups should not be hard to come by seeing that the program is free to join and their affiliate tools also helps a lot to achieving this requirement (more on that later).

Getting back to the traffic aspect, every time one of your tracking links are followed, visitors will first pass through an ad gateway, similar to services such as ad fly where they will first see an interstitial ad for a couple of seconds before being directed to the site being tracked. That ad will be a random campaign belonging to your sponsor, so when you take into account the way traffic lines keep doubling, it gives credence to the claim that your traffic will also keep doubling. It should be noted, when you create a new campaign, you can choose to promote the campaign through your traffic lines via an interstitial ad or (for pro members) a pop-under ad. Members may also choose not to promote certain campaigns.

While there is something to be said about the annoyance of pop-under and interstitial ads, bear in mind that their target market is Internet marketers. These are the same people signing up for programs through traffic exchanges, so I can very well see this traffic converting very well indeed.

Apart from the traffic, URL tracking and URL shortening, you also have the ability to export the contact details of everybody in your traffic lines into a CVS file to easily import to your auto-responder of choice. The great thing about this for the new member joining is that they will only end up in their sponsor's mailing list because of the way their referral system works. This is great as the last thing I want when signing up for a new opportunity is to end up in as many mailing lists as are dependent on the size of the member's down-line or up-line. For those who don't yet have an auto-responder account (what are you waiting for?), you still get to message your traffic lines through an internal messaging system complete with a WYSIWYG (what you see is what you get) editor every 10 days. (Pro members can message their traffic lines every 60 hours)

The owners of SoManyHits.com realize the strength of an affiliate network and this is reflected in the tools they make available to members to promote their affiliate links. When they launched their sister site EasyCash4Ads, the IM world was abuzz with talk about their beautiful splash and capture pages. With SoManyHits they did it again with a total of 120 splash, capture and brain-teaser pages (which double as splash pages) and improved on the design by displaying an animation while the image is loading. These pages can also easily be shared as stunning image cards to your Twitter and Facebook followers with a click of a button.

Members have an abundance of emails and banners as well as some other nifty tools to promote their links, not to mention affiliate links also get promoted through their shortened tracking links which means they can actually lay claim to their product slogan of working smarter, not harder.

Getting to the upgraded features, analyzing your tracking stats really come into their own with much more detailed reports and real time charts. Platinum members also get to message their traffic lines every 60 hours as apposed to every 10 days, they have more options available to them when creating campaigns but where the pro membership really shines is in the income plan.

Platinum membership plans start at $27 for 60 days or $13.50 per month. (a quick Google search revealed most of the competition start at an average of $29/month with limited clicks). From there the options go up to $69 for 6 months ($11.50 per month), $121 for one year ($10, 08 per month) and $177 for 2 years ($7, 38 per month) As an upgraded member you will receive, $10, $20, $30 and $50 respectively every time the platinum membership is renewed. Free members will receive 40% of the commission amount while the other 60% will go to the first upgraded member in their up-line. This effectively means upgraded members will make an extra 60% commission from members who have already qualified out of their traffic lines.

Taking this up yet another notch, they also pay out performance bonuses where you could earn an additional 40% commission. Commissions are paid out twice a month and should you earn $350 during a pay period, they will add another $50 to your commission. Earn $700 and you will get an extra $100 on top of the $50 bonus you received. Earn $1000 and receive yet another $250 on top of what you already earned. From $1000 up, you will get a bonus of $400 for every $1000 you earn. Taking into consideration that upgraded members also receive 60% second tier commissions from free members who qualified out of their traffic lines, it effectively means you will earn 40% extra commission through your own efforts as well as from free members in your down-line.

From what I understand, the developers are already working on more features to be implemented that will be available to pro members. While the free plan will impress even the most critical user, members will be hard-pressed not to upgrade, especially taking the affordable upgrade options into account.

In summary, SoManyHits.com is a well-thought-out service offering a lot of value for the cash strapped marketer with a generous compensation plan and a promise to grow a traffic monster that will serve you well in time to come.

Pros:

 - Unlimited campaigns with no restrictions
 - Great way to grow your mailing list
 - Very affordable to upgrade
 - Unique referral system
 - Generous compensation plan
 - A freebie hunter's dream

Cons

 - Interstitial and pop-under ads