New Educational Course: Tax Compliance and Accounting for Captive Insurers

Sarah Stubbs
July 2, 2020

Finding relevant insurance accounting education has always been a challenge for insurance professionals. Insurance is a global industry. But, the financial reporting and tax rules for insurance transactions represent only a small niche within the extensive realm of statutory and GAAP guidance.  Captive insurance companies are yet another niche within that, which only narrows the available and relevant education offerings.

A new course for captive insurers

Booke Seminars has provided accounting and tax education for insurance companies since 1968 and has historically catered to the larger or commercial insurance carriers. But, after being acquired by Sovos in January of 2020 we have expanded our content offerings. And we now offer a comprehensive eight-hour course tailored specifically for small insurance companies and captives.  This course will cover both tax compliance and tax accounting and reporting topics, including:

  1. Documenting and maintaining status as an insurance company from a federal tax perspective
  2. How insurance companies of all sizes are taxed 
  3. Benefits, considerations, mechanics and disclosures related to the §831(b) election
  4. Tax accounting and reporting for captives 
  5. Tax preparation for captives making the §831(b) election including the calculation of common book-to-tax differences

To register for this course, and all other Booke courses, send an email to statsupport@sovos.com.

We look forward to working with you to meet the educational needs of your business. 

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Author

Sarah Stubbs

Sarah is a Regulatory Education Director at Booke by Sovos, helping to deliver insurance accounting education to professionals in the industry, as well as service providers. Prior to joining Booke, Sarah was in public accounting. For over 20 years, she advised clients on all areas of taxation from formation, to annual compliance, to strategic acquisitions and reorganizations. Sarah also holds a current certified public accountant’s license.
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