I was recently talking with a CPA who told me he has been encouraging one of his best clients to form a captive insurance company. It seems that every Fall his client contracts “Yellow Fever” and in this smitten state, he purchases new construction equipment to lower his taxable
With the passage of Tax Reform, some mid-market and small business owners are “feeling like a kid in a candy store.” The economy certainly seems to be picking up momentum and real wages are
Two weeks ago, we addressed the impact of tax reform on captive insurance companies. This week, we will specifically focus on small captives
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For many businesses in the United States, there is excitement in the air, and rightly so. 2017 was characterized by increased corporate earnings and an improving labor market with real wage growth. Consumer confidence reached a 17-year high. And, not surprisingly, the Stock Market benefited from the passage of the Tax Cuts and Jobs Act, which reduces corporate tax rates to 21% for C Corporations and lowers individual tax rates.
However, the initial stated aim of the Republican Tax Cuts and Jobs Act was to simplify