If you’ll recall, in the previous article we discussed taxation code 831(b) as one of the various IRS codes that can be formed under captive insurance. In this article, we’re going to talk about code 831(b) in the same manner.Much of the implications of 831(b) are the same as 831(a) but with a few caveats. …
Under the tax code law, business owners are permitted to create what is referred to as “captive” insurance companies to mitigate certain risks. Under the traditional captive insurance law, the insured business owner is allowed to claim deductions for any premiums paid on insurance policies.Those premiums are paid directly to said captive insurance company which …
UNDERSTANDING THE TAXATION OF 831(a) INSURANCE COMPANIES Read More »
Learn the secret that savvy companies use to insure themselves instead of throwing money away month after month.