1. Identify ALL insurance coverage’s you will need to bind for the business. Be specific about the details of any aviation related coverage’s.
2. Business grows and soon you find it hard to maintain the increasing pace. You need to hire a part time pilot to relieve you for several days each week. The pilot wants to be paid “cash under the table” as an independent contractor instead of having payroll taxes withheld, which could save the company paperwork and money. Does this expose the company to any risk? If so, describe and state how to avoid the risk.