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. 

Sign up for Email Updates

Stay up to date with the latest tax and compliance updates that may impact your business.

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.
Share This Post

North America Sales & Use Tax
June 1, 2023
3 Things to Remember if You Get a Sales Tax Notice

Have you ever received a sales tax notice from a state department of revenue? Whether you answered yes or no, there are important things to keep top of mind to help keep your business prepared. Finding out that you have failed to comply with one or more of your sales tax obligations can be startling. […]

North America Unclaimed Property
May 30, 2023
How to Set Up a Successful Unclaimed Property Program

Unclaimed property compliance can be difficult and overwhelming. Clients often ask what they should be doing to ensure they are compliant with the various laws and regulations. It isn’t easy, especially if you have multiple property types such as checks, credits or customer accounts that have the potential to become unclaimed property in multiple states. […]

North America ShipCompliant
May 30, 2023
How Hold At Locations Improve Your Customers’ Wine Delivery Experience

Direct-to-consumer shipping wine lovers enjoy the convenience of having their favorite vinos shipped to their front door. But what happens when, for whatever reason, they aren’t available to accept their wine deliveries? Whether they aren’t available during the day or they don’t have someone 21 or older available to sign for their package, these challenges […]

North America Sales & Use Tax
May 30, 2023
Identifying Sales Tax Liabilities and Why They Matter

By Steve Claflin, CLA It’s incredible that it has now been five years since the landmark Wayfair decision. It seems like just yesterday we were reading the case, alerting clients and tracking the ever-developing state guidance. Unfortunately, many companies still are not familiar with their sales tax filing obligations caused by economic nexus, or they […]

North America ShipCompliant
May 25, 2023
Out-of-State Breweries Gain Self Distribution, DtC Rights in Oregon

Under a settlement agreement, breweries located outside of Oregon now have more options for selling into the Beaver State, including direct-to-consumer (DtC) shipping and self-distribution to retailers. The settlement arose out of a lawsuit filed by a group of Washington breweries last year challenging Oregon laws that limited beer self-distribution to in-state breweries and DtC […]