Veba Health Care: Veba Health Care: Examination Guidelines - Organiz...: Veba Health Care: Examination Guidelines - Organizational Requiremen... : 4.76.18.3.1.1 (06-21-2002) 1. Review the trust agreement,
Lance Wallach
Lance Wallach
An organization to help those harmed by the IRS, don't let what happened to Bruce happen to you
or ot...
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Author/Moderator: Lance Wallach, CLU, CHFC, CIMC
Publisher: AICPA
Availability: In Stock
Chapter 1 - Planning for Business Owners
Learning Objectives
Introduction
Building the Perfect Retirement Plan
SEP IRA: The Good
SEP IRA: The Bad
SEP IRA: The Ugly
The K
The Double K
Defined Benefit Plans
Adding Survivor Benefits
412(i) Defined Benefit Plan
Cash Balance Plans
VEBAs and 419 Plans
Taxability of Trust Net Income
Taxability of Excess Benefits
Group-Term Life Insurance Plan
Post-Retirement Medical Benefit
Voluntary Employees Beneficiary Association (VEBA) - Commentary
New Development - Welfare Benefit Plans under Section 419(e)
Executive Carve Out Long-Term Care
What Is Long-Term Care?
How Much Does It Cost
Benefits of Long-Term Care Insurance to Employees
Benefits of Long-Term Care Insurance to Employers
Executive Carve Out Long-Term Care
Taxability
Long-Term Care Insurance Premium Deductibility
2007 Eligible Long-Term Care Insurance Premiums Age-Based Deduction Limits
Tuesday, March 11, 2014
Listed Transactions & 419 Plans Litigation: Have You Dealt With Any Of These People?Kenny Ha...
Listed Transactions & 419 Plans Litigation: Have You Dealt With Any Of These People?
Kenny Ha...: Have You Dealt With Any Of These People? Kenny Hartstein Dennis Cunning Steve Toth Larry Bell Scott Rid...
Two federal regulatory agencies are in hot pursuit of a shadowy hedge fund figure and various companies associated with him, claiming they pumped millions into Bernard Madoff feeder funds and other unsuccessful investments, then lied about the losses.
On Sept. 7, both the Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission filed actions in the federal Northern District of Illinois against Nikolai S. Battoo, 41, who apparently has most recently operated in Florida.
In announcing its action, the SEC said Battoo has run numerous hedge funds and claims to manage $1.5 billion for investors worldwide, including at least $100 million in the United States.
Battoo has gathered “tens of millions of dollars” in investments since 2009, all the while losing millions more, the SEC also said in a detailed, 32-page complaint.
He has managed money through a series of companies including BC Capital Group, of Panama, and BC Capital Group Limited, which is believed to be run from Hong Kong. He also manages several hedge funds and is “senior advisor” for an outfit called Private International Wealth Management, and is thought to be affiliated with FuturesOne LLC, a commodities pool located in Lincoln, Neb.Have You Dealt With Any Of These People?
Kenny Hartstein Dennis Cunning Steve Toth
Larry Bell Scott Ridge Randall Smith
Greg Roper Tracy Sunderlage Joseph Donnelly
Norm Bevan Michael Sonnenberg Judy Carsrud
Michael Carroll Anthony Fakouri
Steve Burgess Tom Crosswhite
Wednesday, August 22, 2012
Have You Dealt With Any Of These People?
Kenny Hartstein Dennis Cunning Steve Toth
Larry Bell Scott Ridge Randall Smith
Greg Roper Tracy Sunderlage Joseph Donnelly
Norm Bevan Michael Sonnenberg Judy Carsrud
Dan Carpenter Michael Carroll Anthony Fakouri
Steve Burgess Tom Crosswhite
Than You Should Know:
The dangers of being "listed"A warning for 419, 412i, Sec.79 and captive insurance
As published in:AccountingToday: October 25, 2010By: Lance Wallach
Taxpayers who previously adopted 419, 412i, captive insurance or Section 79 plans are in big trouble.
In recent years, the IRS has identified many of these arrangements as abusive devices to funnel tax deductible dollars to
shareholders and classified these arrangements as "listed transactions."
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Captive Insurance
Posted on February 12, 2014
Choosing a domicile.
■ Regulatory environment. Some jurisdictions are friendlier than others, or their
statutes may permit different used and forms of captives.
■ Minimum capitalization requirements – varies between jurisdictions from
$150,000 to $750,000. Separate series of a group captive requires risk-based
amount of capital, typically
■ Start-up costs and annual maintenance – typical start-up costs range from
$50,000 to $80,000 for pure captive (plus required capital) and from $20,000
to $25,000 for cell (or series) of group captive.
■ Underwriting risk classification
• Traditional coverage or non-traditional coverage, such as loss of license.
■ Tax implications.
• Small insurance company with premiums less than $1,200,000. See
Section 831(b) of the Internal Revenue Code. Applies to US tax-law
compliant companies.
• Excise taxes on premiums paid for non-US captives.
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412i 419E IRS Audits and Problems
412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.
Thursday, March 29, 2012
Captive Insurance and Other Tax Reduction Strategies – The Good, Bad, and Ugly
By Lance Wallach May 14th
Every accountant knows that increased cash flow and cost savings are critical for businesses. What is uncertain is the best path to recommend to garner these benefits.
Over the past decade business owners have been overwhelmed by a plethora of choices designed to reduce the cost of providing employee benefits while increasing their own retirement savings. The solutions ranged from traditional pension and profit sharing plans to more advanced strategies.
Some strategies, such as IRS section 419 and 412(i) plans, used life insurance as vehicles to bring about benefits. Unfortunately, the high life insurance commissions (often 90% of the contribution, or more) fostered an environment that led to aggressive and noncompliant plans.
The result has been thousands of audits and an IRS task force seeking out tax shelter promotion. For unknowing clients, the tax consequences are enormous. For their accountant advisors, the liability may be equally extreme.
Recently, there has been an explosion in the marketing of a financial product called Captive Insurance Plans These so called “Captives” are typically small insurance companies designed to insure the risks of an individual business under IRS code section 831(b). When properly designed, a business can make tax-deductible premium payments to a related-party insurance company. Depending on circumstances