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Tax Preparer

Tax preparers provide income tax preparation services for customers who need assistance filing their income tax returns. The size of these businesses can range from a single person operation to a national chain. They may assist customers with filing income taxes electronically or on paper, and may provide income tax-related advice. These businesses do not provide bookkeeping, accounting, payroll processing or billing services.

General Liability Insurance for Tax Preparers – Since customers visit the offices of tax preparers, especially during the busy tax season, businesses must make sure their space is free from hazards that could cause injuries. Walk spaces between objects such as furniture, walls, and displays should be adequate for easy passage. All stairs should be equipped with sturdy handrails and skid resistant surfaces.

Professional Liability (Errors and Omissions) Insurance for Tax Preparers Tax preparers could face lawsuits if they make major mistakes that cost their clients money or cause them to get in trouble with the IRS or state tax commissions.

Workers’ Compensation Insurance for Tax Preparers Tax preparers are subject to injuries caused by repetitive motions as well as health problems due to stress. Employees should be required to take adequate vacations in order to minimize stress. Periodic breaks should also be taken to reduce the likelihood of stress in addition to eyestrain and other computer related injuries.

Business Auto Insurance for Tax Preparers Tax preparers may use company-owned vehicles as well as rented vehicles for business trips, and therefore a risk of auto accidents exists. Tax preparers who drive during peak seasons are likely to be under stress and have their minds focused on things other than driving, which may result in higher risks of business auto liability.

Property Insurance for Tax Preparers – Fire is a possibility in the offices of tax preparers. All documents should be stored in fireproof cabinets and important papers and computer documents should be duplicated and stored off-site. All computer hard drives should be backed up with tapes or discs stored off site. Smoke detectors and fire suppression systems should be in place.

Crime Insurance for Tax Preparers – Crime risks for tax preparers are related to employee dishonesty. Employees may steal from customers if they work at clients’ locations or they may steal from their employer. In order to reduce the risk of employee theft, prospective employees should be required to fill out a detailed application in addition to undergoing rigorous background checks and reference checks.
 

Insurance Policies To Consider:

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Sadler & Company, Inc, Insurance Services, Columbia, SC