The kind of tree that adorns a person’s home during the holidays can provoke debate as much as Coke vs. Pepsi or Chevy vs. Ford. When it comes to Christmas trees, do you choose live or artificial? Do you cut your own at a local farm or do you prefer the convenience of a tree bought at a local store that won’t shed its needles, doesn’t need water and already has lights?
The Department of the Treasury and the IRS recently issued Notice 2016-66, identifying a certain type of captive insurance company as a "transaction of interest". Taxpayers that participate in a "transaction of interest" are required to file a Form 8886 with the IRS. Material Advisors are required to file a Form 8918. We have prepared a technical memorandum summarizing the provisions of Notice 2016-66.
On November 1, 2016, the Department of the Treasury and the Internal Revenue Service (the "IRS") issued Notice 2016-66. The Notice describes a certain type of captive insurance company and identifies the transaction as a "transaction of interest". Persons engaging in the transaction are required to disclose their participation in the transaction to the IRS.
Those across the nation who have tasted deep-fried turkey usually say there’s simply no comparison to an oven-roasted bird — turkey out of the fryer is moist, with crispy skin and a beautiful color. And, it cooks much more quickly than a turkey in the oven, which means you don’t have to wait for hours on end to get your fix. But, if you’re not careful, frying a turkey can ruin your Thanksgiving, too. You’ve no doubt seen videos of people accidentally starting fires with their attempts. In some cases, families have even lost their homes.
The Joint Committee on Taxation recently released a 268-page technical explanation of the Protecting Americans from Tax Hikes Act of 2015 (or "PATH Act"). Section 333 of the PATH Act amends section 831(b) of the Internal Revenue Code in a number of ways that may affect the tax treatment of small property and casualty insurance companies, including captive insurance companies. For an excerpt of the full report that is specific to section 333, please
The Protecting Americans from Tax Hikes Act of 2015 (or "PATH Act") is set to take effect on January 1, 2017. Make sure you are prepared. To check out our latest Techincal Memorandum on the PATH Act, please click here.
UNITED KINGDOM - RMC Group, a consortium of leading insurance and actuarial consulting firms, announced that Ryan S. Mitchell has been named President of its United Kingdom based operation, RMC Group, U.K. Working out of RMC’s London office, Mr. Mitchell will coordinate and oversee RMC’s European reinsurance operations. Mr. Mitchell commented that “This is an amazing opportunity to continue my part in the success story that is RMC Group. I‘m honored to be a part of its history and its future.”
A hot insurance topic in the news today is costing people a lot of grief and money. If not handled properly, you could give up your rights during a property loss and be dragged into a lawsuit with your contractor for repairs you thought were covered under your policy.
It’s a known fact that water losses are the most frequent and costly types of claims for property insurance companies in Florida. For every premium dollar collected, about 1/3 is paid out in water claims.
Halloween is one of the fall season’s most treasured holidays. Kids love to dress up, get together with friends, and go door-to-door in search of the biggest and best goodies.
If your neighborhood tends to be teeming with little ghosts, goblins, superheroes and princesses, you’ll want to be sure your yard and stoop are safe and welcoming. A little pre-planning can prevent unfortunate accidents that could turn out to be tragic for kids and trying for you.
At some point in our lives, we all think about retirement. However, a business owner, who has spent most of his life growing his business, may not have had the time or the money to implement a retirement plan. As a business prospers and matures, the owner may be able to invest in his business, enjoy life and save for retirement. By funding a retirement plan, a business owner can ensure a comfortable and well-earned retirement. Whether a business adopts a Profit Sharing Plan or a Defined Benefit Plan depends on several key factors.