Business Income Worksheet Ordinary Payroll

Business income insurance helps preserve the future of your business by replacing your income stream and providing needed funds to meet your ordinary payroll and other necessary continuing expenses while you rebuild and repair your property and restore your business to the condition that would have existed had there been no fire loss.

Business income worksheet ordinary payroll. If the policy has an ordinary payroll exclusion or limitation the company can maintain all non hourly. Information required to complete this schedule if not shown above will be shown in the declarations. 12 month business income amount including ordinary payroll option of your choice duration of loss number of months you estimate are required to return to your previous level of business. Add total operating expenses sub total if ordinary payroll is to be excluded or limited.

Revenue is the starting point for determining the business income value. If yes enter amount if no leave blank 5. Ordinary payroll included in business income value unadjusted limit of business income coverage with ordinary payroll extra expense. The business income worksheet is a deduction based form where non continuing expenses are deducted from revenue in sections b and c.

Number of days if ordinary payroll coverage is provided. Social security unemployment insurance and other charges allocated to ordinary payroll 6. When measuring a business income loss a company can treat all payroll and benefits if directly related to payroll i e fica worker s compensation etc as continuing expenses in its accounting worksheet as defined in cp 00 30 10 business income and extra expense coverage form. Business income basis a b c.

Excluding or limiting ordinary payroll expense. In deciding whether to exclude or limit ordinary payroll i e other than officers executives managers and employees under contract. Additional exemptions job classification s or employee s. And production related labor costs are classified as ordinary payroll and subject to a specific endorsement the cp 15 10.

Ordinary payroll limitation or exclusion endorsement a business income coverage endorsement limiting to a specified number of days such as 90 days or eliminating altogether coverage for payroll expense of employees other than executives department managers employees under contract and other important employees. Business income worksheet page 2 of 2 10 2009. Business income worksheet. Light heat and power expenses that do not continue under contract.

Beginning and ending finished stock inventory values are used to develop the gross sales value of production in the income section of the business income worksheet lines b and c. Business income worksheet non manufacturing or mercantile operations actual values for estimated values year ending 200 for year ending 200 a.