Action Insurance Agency

Question: When are gift taxes due and who pays them? Answer: Gift taxes are due on certain transfers of wealth. If and when gift taxes are due, the donor is liable for them. The recipient of the gift is not taxed. (Note that gifts to charity are not subject to gift taxes.)

General liability insurance is intended to guard operators and owners of companies against claims that may come from a broad spectrum of sources. These exposures could be just about anything, including liability engendered by accidents from the operations of the insured party, contractual liability, products manufactured by the insured party, etc.

A ”Complex Trust” is a trust that is to be distinguished from a simple trust in the fact that it permits accumulation or distribution of current income during the tax year and provides for charitable contributions.

Professional liability insurance, also sometimes referred to as errors and omissions insurance or E&O, protects businesses or individuals in the event that a customer holds your company or business owner responsible for a service that was provided, or failed to be provided, and did not have the expected or intended results.

"I believe that if you'll just stand up and go, life will open up for you. Something just motivates you to keep moving." — Tina Turner

A Contingent Liability is a event that may or may not give rise to an actual liability because the outcome is uncertain; examples include lawsuits, environmental damage issues, and so forth.

Confused about your property & casualty insurance options? Contact us today so we can review your situation!

Directors and officers liability insurance provides financial protection for the directors and officers of your company in the event they are sued in conjunction with the performance of their duties as they relate to the company. Think of directors and officers insurance as a management errors and omissions policy.

If you own a business, you probably own some form of general liability insurance to protect you in the event of a lawsuit due to negligence on your part. However, there may be situations where the limits of your general policy may not provide adequate protection. A commercial umbrella can provide you and your business with additional liability protection.

Respect is what we owe; love, what we give. -Philip James Bailey

A W-4 Form is an Employee’s Withholding Allowance Certificate and is completed by the employee and used by an employer to determine how much to withhold from an employee’s paycheck for federal income tax purposes.

The basic BOP offers business property for both building and contents, and liability insurance protection for the operation of your business. This liability protection will generally include both the operation of your business, at its established location, and the liability from your products or completed operations.