Good-eye opening video.

THANK YOU SO MUCH! XOXOXO

Good job

Thank you for the free information.

So. Where do brokers fall into this? Or is that synonymous with independent agents? I ask because while shopping for auto quotes I’ve come across so-called brokers that in addition to the insurance quote also seem to want a “broker fee”.

I’m here because that totally made me raise an eyebrow since I’ve never had an agent, of any kind, mention this.

The IRS said Thursday it will be sending settlement offers with terms that are stricter than ones it offered last year under an earlier Micro-captive initiative. The IRS has been focusing on cracking down on certain types of tax avoidance schemes, such as syndicated conservation easements and micro-captive insurance, while also stepping up tax enforcement efforts against holders of digital currencies such as Bitcoin and Ethereum, despite a decreasing number of IRS audits overall in recent years.

The crackdown isn’t entirely new. In 2016, the Treasury Department and the IRS issued Notice 2016-66, which identified certain micro-captive transactions as having the potential for tax avoidance and evasion.

Examinations impacting micro-captive insurance transactions of several thousand taxpayers will be opened by these teams in the coming months. Potential civil outcomes can include full disallowance of claimed captive insurance deductions, inclusion of income by the captive entity and imposition of all applicable penalties.

The IRS reminds taxpayers and advisors that disclosure of participation in micro-captive insurance transactions is required with the IRS Office of Tax Shelter Analysis under Notice 2016-66. Failure to properly disclose can result in significant civil penalties. Taxpayers involved in these abusive transactions should immediately consult with independent, competent tax advisors on the proper treatment for past and future tax years to consider best available options.

Google Lance Wallach and whoever advises you, Who do you Believe?

what are the requirements for starting the Insurance company, not the agency, the company it self??

Interesting icon for "captive". Next video.

Great information! For anyone looking for a commercial wholesaler, check us out. You don't have to be appointed to receive quotes.

I am not aware of a captive carrier that pays a salary to agents, can you let me know which?

What companies are easier to get contracts with if you are new? I'm thinking of going into this to help the many people in my community. But I have no idea which way to go about starting. could you point me to the right directions?

Hi Jeremy ,

Will you cover Commercial auto, and property insurance as well please. I would like to learn more about auto, trucking business and medical practices commercial insurance etc..
Thank you in advance
Bijan

Hey thanks for the great info! I was wondering how a new independent agent collects different insurance products they can sell? Where do they search for these insurance products?

I have no experiance but would like to start my own office… please help

Thank you very much, I've learned a lot here, especially from your responses to questions that people have asked in the comments section.

Awesome video!

I'm in the process of obtaining my P&C license and have been watching several different videos pertaining to Captive vs Independent. By far this was the best video I have watched. It's very informative and explained in a way that made it very easy to understand. Thanks

whats a typical % that independent agents make on sales and renewals?

very good, thank you