Business Basics
Agency Insurance and Licensing
Professional Liability Insurance
In general, the Agency does not require that Independent Contractors carry Liability (Errors and Omissions) Insurance at the time of this Agreement, but it is encouraged. However, it is required for agents booking airfare outside of a supplier provided package.
You can contact your own insurance company for a quote. Aon Travel Pro, BiBerk, Hiscox, and Travelers are some insurance companies that you can research.
To Learn More About E&O Insurance, What It Is, Why It’s Important, And The Coverage You Get From Destination Magic, Watch The Video Below.
Florida Seller of Travel
The Florida sellers of travel law requires any person or business that is a seller or promoter of travel-related services to register annually with the Florida Department of Agriculture and Consumer Services (FDACS), unless exempt. This means any travel agency or independent travel agent located in Florida or that offers to sell travel-related services in Florida is required to register. This includes independent contractors, such as you. There is an annual filing fee of $50 for an independent sales agent.
HERE is a link to the website for more information.
HERE is a link directly to the application.
Tax and Finance Informaiton
As an Independent Contractor, taxes are not taken from your commission check. At the end of the year, you will receive a 1099 form stating how much you have earned. If you have earned less than $600, you will not be getting a 1099 form, but you are still responsible to report that income to the state and federal government. A general guideline is to save 30% of you earning to pay taxes. Consult with your accountant for more information.