Are annuity payments taxable in California?

Direct answer

Yes, it is highly recommended because professional liability covers legal costs if a client claims your advice resulted in a financial loss, which standard general liability policies exclude.

Business insurance guidelines published by state departments of insurance and national small business associations. For additional information about recommended coverage types for consultants, see the U.S. Small Business Administration‘s guide on business insurance.


What this means for you

Yes, it is highly recommended because professional liability covers legal costs if a client claims your advice resulted in a financial loss, which standard general liability policies exclude.

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