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Captive Insurance: Turning Insurance Premiums Into a Profit Center

In this episode of Taxed Enough Already Dan Nuwash sits down with Air Force Veteran and Vice President of RMC Group, Thomas Bacharach, CLU, ChFC, CPCU.

Dan and Tom discuss how businesses can recapture insurance premiums and turn them into a profit center through the utilization of Captive Insurance.

Dan Nuwash is the Founder and Managing Partner of Finance For Thought and can be reached through our website.

Watch Taxed Enough Already here, on Rumble, and listen to it on Apple Podcasts, Spotify, or anywhere you listen to your podcasts.

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More articles and videos over Captive Insurance:

Video: Transform Business Insurance Premiums Into a Profit Center

Recorded Webinar: Captive Insurance - Tailor Made Risk Management

Captive Insurance: How the IRS Got it Wrong and How to Manage Future Pandemic Risks

Protection Carriers are in Trouble; This Could Negatively Impact Businesses

Captives - Is Your Business Missing Out on a Profit Center?

Disclosures:
TAX- To the extent that this material concerns tax matters, it is not intended or written to be used, and cannot be used, by a taxpayer for the purposes of avoiding penalties that may be imposed by law. Each tax payer should seek tax, legal or accounting advice from a tax professional based on his/her individual circumstances.

TAXES- This material is for informational purposes only. Neither APFS nor its Representatives provide tax, legal or accounting advice. Please consult your own tax, legal or accounting professional before making any decisions.

Sources:

https://captivereview.com/news/coronavirus-shows-irs-was-wrong-microcaptives/

https://www.nytimes.com/2020/03/20/your-money/coronavirus-insurance-small-business.html

https://www.nytimes.com/2016/01/16/your-money/small-private-insurers-face-increasing-scrutiny-on-avoided-taxes.html

https://www.nytimes.com/2012/07/14/your-money/a-captive-insurance-company-offers-financial-benefits-if-not-abused-wealth-matters.html

https://www.nytimes.com/2015/04/11/your-money/irs-is-looking-into-captive-insurance-shelters.html

https://en.wikipedia.org/wiki/Coronavirus_disease_2019

https://www.captive.com/news/2018/11/19/what-is-a-micro-captive

https://www.financeforthought.com/blog/use-captive-insurance-to-keep-your-insurance-premiums-in-your-pocket

https://www.financeforthought.com/blog/four-commonly-overlooked-ways-to-reduce-business-taxes-and-expenses

https://investinganswers.com/dictionary/t/tax-arbitrage

https://www.law360.com/cases/5a4eb705a2bcd20fe6000147

https://caselaw.findlaw.com/us-6th-circuit/1905951.html

https://www.epa.gov/laws-regulations/summary-administrative-procedure-act