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Can you deduct work comp or general liability insurance from a 1099 contractors check if they don't produce their own policy in Nebraska Iowa or Texas?
Wiki User
∙ 11y ago
Did you actually buy Workers Comp or General Liability Insurance for that contractor? If not, Then you have no right to deduct the cost of something you did not provide.
If you "Did" go out and buy the required insurance and that requirement was in your contract, then you should have no problems deducting the cost from the check.
Your supposed to verify that they have the appropriate insurance "before " you hire them.
Wiki User
∙ 11y ago
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What are the main rules used by contractors general liability insurance?
Contractors general liability insurance is based on one of two things, total receipts or payroll and cost of subcontractors. Contractors general liability insurance covers a company if their employees get hurt on the job or cause damage to a property while working.
Are defense expenses paid in a contractors professional liability policy?
A Professional liability insurance Policy, as well as a contractors General Liability Insurance policy will provide coverage for the cost of legal defense.
What is the Liability of homeowner acting as General contractor?
Homeowners insurance does not have liability coverage for your job occupation. You can obtain contractors insurance for liability coverage.
General contractors general liability class code?
Insurance class code 41620
What does comprehensive general liability insurance cover?
Comprehensive general liability insurance covers businesses against many liability exposures of a business. Comprehensive general liability insurance coverage includes completed operations, elevators, independent contractors, and more.
Where can one find a contractor for general liability insurance in Mobile Alabama?
Yellowpages is a great resource to find a contractor for general liability insurance in Mobile, Alabama. The website contains contact information for multiple contractors.
What kind of insurance do you need for a demolition business?
Most clients demand that demolition contractors have commercial general liability insurance before they hire them. Demolition insurance coverages are designed to meet the specific demands of the demolition industry. Contractors face a variety of potential risks, so it's critical to have the correct insurance coverage in place.
What kind of insurance do general contractors need to have?
General contracts must carry at a minimum liability insurance along with being bonded by the state. Liability insurance should be no less than $1 million and could be much higher depending on the job.
Is there a professional liability insurance for a Residential contractor in SC?
What your looking for is Commercial General Liability Insurance for contractors, not professional liability insurance.And Yes. Almost any Commercial lines carrier will provide CGL coverage as well..
Can a homeowner file a claim with the contractors insurance company?
Yes, That's why you always make sure your contractors are insured before you hire them. The contractor should always carry General liability insurance to cover the cost of accidental damage to a property they perform work on. Most General Liability Insurance policies will also have coverage for completed products and operations as well.
Why are rates for general contractors so high?
General contractors have high liability because they are responsible for so many important things in a house. It is dangerous to have certain things fixed wrong and this insurance protects them from being sued.
Are contractors required to have liability insurance in Texas?
No, there is no legal requirement at the time of this answer. There is however a requirement for registration with the state of Texas. Having General Liability Insurance though is the first sign that you are hiring a responsible and perhaps reputable Contractor.
