Search CompleteMarkets

...ovable property, or everything but real estate), no matter where it is. As a practic...en you start a company telecommuting program, you'll be venturing into barely ...

...s it represents. There are no real hidden secrets to good training. It is...akes in your career and it would be unrealistic to suppose that your children ...

... also address insurance issues. Most Homeowners policies exclude coverage for business property (even if owned by the insured) unless it's specifically listed on the policy. A broadly worded Business Property policy automatically covers the company's personal property (basically, immovable property, or everything but real estate), no matter where it is. As a practical matter, however, you may want to specifically list such off-premises equipment in your policy. Secure your data. Most telecommuters need access to information stored on company computer networks. Before permitting workers to ... , determine the risk this would pose to your company's data. Will the worker need access to or be transmitting confidential financial data? Proprietary or trade secrets? The frequency with which this information will be transmitted and its sensitivity will determine what type of security measures to take. Some of the simpler, less expensive (but less secure) methods of data protection include password protection; restricted access lists, which limit network access to computers dialing in from certain telephone numbers or certain Internet addresses; and callback devices, which deny access ... telecommuting. Information workers are an obvious choice; manufacturing workers aren't. Professionals comprised the majority (72%) of telecommuters in the California program. In this program, jobs ranged from accountants to researchers and included administrative law judges, lawyers, policy analysts, and appraisers. Where professional or skilled workers are represented by a union, you may experience resistance. Unions may see telecommuting as a way for employers to get around overtime and other work rules. To overcome these objections and enlist union support, be sure to include a ...

... buyer defined by FMV would probably not continue to employ an experienced producer with a $100,000 commission book on which he was being paid 50% of renewals. The result: the pro forma (adjusted) profit margin will be much higher than the agency's real profit margin, which in turn will result in a higher valuation. If the actual sale is internal between partners, then the valuation might be so high, the buying partner can't afford to buy their partner's share. MODIFIED FAIR MARKET VALUE Definition: Modified FMV ... transition of accounts and improve retention. 4. The valuation is based on 100% controlling, closely held basis. Uses FMV is probably the best known definition of value and thus, the most commonly used. FMV valuations are popular for buy/sell agreements, estate planning, some mergers, internal perpetuation, and anything that might involve the government such as taxes. FMV might be appropriate in other situations, too. Strengths FMV probably offers the most precise definition of value because the IRS has specified standard rules for completing FMV ... 4/30/2013 10:36:15 PM by CompleteMarkets Editor , Carol Hammes This content has not been rated yet. A NEW LOOK AT INSURANCE AGENCY VALUATION by Carol Hammes It's becoming increasingly important for agents to recognize that having a complete, professionally prepared appraisal won't always provide the answers they need. If you're planning on selling your agency, either internally or externally, there might be a better way to use a consultant's expertise. Carol Hammes takes a look into contemporary agency valuation and provides an article on the subject ...

... disability, and commit this to writing in a stand-by agreement. The last thing a spouse who has not been active in the business is going to need at the time of your demise is to have to worry about the agency. And you're doing your heirs a real disservice if the executor has to sell the agency at unfavorable terms to pay estate taxes based on some arbitrary value that the IRS has assigned. A buy-sell agreement should cover the disposition of the ownership interest in the event of death, disability, normal retirement, ... termination of employment before retirement. Many attorneys also recommend that a divorce provision be included, particularly in community property states. In firms with multiple owners, most agreements call for the stock to be sold at a triggering event with the corporation or other owners as the buyers. At the very least, the other shareholders or the corporation should be given the right of first refusal to buy the shares either in a stock redemption or cross-purchase agreement. Although in rare cases, the contracts may allow for the sale of shares to non-shareholders ... may have outdated valuation formulas that could literally drive the agency into financial ruin when a major shareholder retires. The valuation formula should be evaluated at least every five years, and more often if the agency is growing rapidly. If the value is based on an outside appraisal, the valuation should be updated at least every other year, and the principals should all agree with the appraiser's results and approach. Owners (other than the first one to be bought out) should periodically test the formula against current agency results and should assure ...