3 Benefits of Using an Insurance Marketing Agency

Marketing Agency

Effective marketing plays a central role in getting your insurance company off the ground. Whether due to a lack of time or marketing experience, beginning or expanding your outreach may feel like an overwhelming task. Excellent insurance marketing companies can help relieve some of your stress while simultaneously increasing your reputation and visibility.

1. Better Brand Building

One of the most important factors in marketing your business is your brand. Having a consistent brand can help your company become a household name and ensure that customers know what they’re getting when they turn to you and your company. Insurance marketing agencies can help by employing specific strategies that attract a loyal customer base.

2. Stronger Online Presence

Although it’s crucial to establish a social media presence in order for your business to succeed, doing so is easier said than done. There are now multiple platforms to keep up with, and customers expect regular engagement. Marketing agencies can advance not only your social media accounts but also your website, which must remain current and accessible to all potential customers.

3. Increased Customer Outreach

In addition to the customer base you’ll build from better branding and a stronger online presence, marketing agencies can employ other strategies to help you attain and keep customers. You can return to business as usual while experts analyze your company data to determine new ways to increase your visibility in the insurance community.

Many rely on professionals to market their businesses, and insurance companies are no exception. If marketing is outside of your comfort zone, consider turning to an agency to give your business the boost it needs.

Can FMLA and Workers’ Compensation Overlap?

FMLA and Workers' Compensation

Laws have been created to protect employees who are injured on the job or who require extended time off. Both the Family Medical Leave Act and workers’ compensation were designed to help employees in those situations.

Approved Reasons for FMLA

FMLA ensures job protection for qualified employees who request unpaid leave. There are specific reasons for qualifying for FMLA, and the period of time must not exceed 12 weeks in 12 consecutive months.

  • Taking care of a family member with a serious health condition
  • Bringing a new child into the family, either by birth, foster care or adoption
  • Recovering from a health condition in which the employee isn’t able to perform essential job duties

Rules for Workers’ Compensation

Workers’ compensation provides income and health care for qualified employees who are injured or become ill on the job. It doesn’t necessarily allow for job protection, however.

If an employee qualifies for compensation under the laws of both FMLA and work comp, the employer must evaluate the situation and provide leave under whichever law gives the employee the best compensation. Each state has different rules pertaining to FMLA and workers’ compensation, so the choice can seem daunting. To avoid confusion, it’s important for the business owner to discuss options with their insurance agent.

FMLA and workers’ compensation are in place to help employees in their time of need. Business owners who are prepared will better serve their workers.

Is There a Tax Deduction for Spoiled Food?

Tax Deduction of Spoiled Food

All food, including bottled water, has an expiration date. Because owners of restaurants, grocery stores, and convenience stores spend up to 30% of their annual budgets on food, they are always in a race against time to sell their inventory before it expires. Learn how much they stand to lose by throwing food away and whether there is a food spoilage tax deduction they can claim.

Spoiled Food 

There is no special tax deduction for spoiled or expired food. Deductions are rather based on the total cost of food purchased in the first place. The ultimate destination of the food and the amount for which it is sold does not affect this credit. Donating–rather than tossing–the food, however, does affect the tax rate.

Donated Food

A business that donates food before it expires can deduct the value of the food’s selling price. In this way, C-corporations can deduct up to 10% of their taxable income, and other businesses can deduct up to 30%. The Protecting Americans from Tax Hikes Act of 2015 allows all businesses, including C-corporations, to deduct up to 15% of their taxable income if their donations meet certain criteria. They are allowed to deduct either two times the value of the food or its value plus half its profit margin.

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