A tax preparer and an accountant can overlap the functions of a bookkeeper. Being properly insured to cover your basis is critical to protect you and your business. Whether you need to be covered as a bookkeeper, tax preparer, or both, InsureWise can help you find the right coverage.
Insurance for Tax Preparers
In the course of their business, those who only prepare taxes are covered with insurance for tax preparers. Whether they prepare personal income taxes or business taxes, this is all that is done. Also known as professional liability insurance, errors and omissions insurance for tax preparers can cover you in a number of situations. When you are faced with blame due to clients not following your sound advice and are facing a claim against you that indicates you were unclear and the deductions are being disallowed by the IRS, the insurance can protect from the responsibility, for example.
For businesses that provide income and expense tracking services and keep general ledgers for their clients, you are covered with bookkeeper insurance. Bookkeeper liability insurance could cover you under many different circumstances. When there is blame to be placed, or mistakes that might be made, you can be properly covered.
Consider an accountant insurance policy if your business provides both tax preparation and bookkeeping services or provides other accounting services. You will be protected from claims and lawsuits that could stem from the range of services you provide.
Bookkeeper & Tax Preparer Insurance
InsureWise can help you find the right coverall in addition to general liability that include a Business Owner’s Policy (BOP) that includes Cyber Insurance, Professional Liability, Valuable Papers & Record Coverage. Depending on your business’s circumstances such as size, location, claims history, number of employees, and other factors dictate how much insurance cost, but we help you find something within your budget that helps you maintain proper coverage.