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How Dealings between Related Parties Doomed a Captive Insurer

By Farrell Fritz P.C. on March 16, 2021
Posted in Federal

Insurance: What is it? How does it work?

Assume that Acme Co[i] is paying premiums for commercial insurance[ii] coverage to protect itself from economic losses that may arise out of various events. These premiums are deductible in determining Acme’s taxable income; they represent an ordinary and necessary expense of conducting Acme’s business.[iii]…

Insured to Captive: “More, Charge Me More, Charge Me More . . .” Premiums?*

By Farrell Fritz P.C. on April 29, 2019
Posted in Federal Tax Issues

It’s Not All About 2017

A casual review of the recent tax literature may leave a “lay person” with the impression that, prior to the passage of the 2017 tax legislation, tax advisers had nothing else to write about.[i] Opportunity zones, GILTI, qualified business income, etc. – the spawn of 2017 dominates the tax…

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