Reduce Your Tax and Insurance Expense

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Tax Insurance Cost Reduction Ideas Lance Wallach, National Society of Accountants Speaker of the Year (516) 938-5007 [email protected] www.vebaplan.com

Transcript of Reduce Your Tax and Insurance Expense

Page 1: Reduce Your Tax and Insurance Expense

Tax Insurance Cost Reduction Ideas

Lance Wallach, National Society of Accountants Speaker of the

Year

(516) 938-5007

[email protected] www.vebaplan.com

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IRS audits are increasing

Do Not become a Target

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How to obtain a Free IRS industry specialization report

Items IRS will be looking at during an audit

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Audits vs. asset protection

Multiple corps to shift tax years income

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Avoid rounding of figures( Zeros are a red flag for tax auditors

Do not amend tax return, unless unavoidable

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Make sure income reported is inline with your living expenses

Be careful about taking Cash $$$$$$$$$$$$$$$$$$$$$$$$$

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Circular 230 Illegal workers compensation auditsIRS audits

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IRS is auditing Retirement PlansWhat type of Retirement Plan do you have?412(i), 419, Section 79Abusive Tax Shelters

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Interested in Reducing Workman’s Compensation Costs?Interested in Reducing Medical Costs?Captive insurance company can reduce insurance costs

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Life insuranceNo loadInsurance swap outs

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Off-shore TrustsSwiss AnnuitiesHealth Savings AccountsHealth Insurance

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Business succession planningEstate PlanningBuy Sell agreementsFinance your life insurance

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Retirement plansDB K or Double K401k audits leaving out working

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Selling your life insurance for cashDropping and paying taxes be carefulAnnuities vs. Life Insurance

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IRS problems with annuities in plans

Should you convert to a Roth IRA?

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How much money did you lose in the Stock Market last year?

How to recoup your losses

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Lance Wallach National Society of

Accountants Speaker of the Year

(516) 938-5007 [email protected] www.vebaplan.com

Questions?


What is final expense insurance? PRODUCTS: INSURANCE · Final expense insurance is permanent ... Consult your tax professional or social services agency for details. 4 Source: as

What is final expense insurance? PRODUCTS: INSURANCE · Final expense insurance is permanent ... Consult your tax professional or social services agency for details. 4 Source: as

MWSUG 2017 - Paper AA 04 Claims Analyticsmwsug.org/proceedings/2017/AA/MWSUG-2017-AA04.pdf · helps insurance companies to reduce the expense to close the claims as early ... aggregated

MWSUG 2017 - Paper AA 04 Claims Analyticsmwsug.org/proceedings/2017/AA/MWSUG-2017-AA04.pdf · helps insurance companies to reduce the expense to close the claims as early ... aggregated

Final Expense Insurance Austin

Final Expense Insurance Austin

ImProve AccurAcy And reduce your LeAse oPerAtIng exPense ... · ImProve AccurAcy And reduce your LeAse oPerAtIng exPense And rIsk In uPstreAm oIL & gAs ProductIon. Micro Motion, Inc.

ImProve AccurAcy And reduce your LeAse oPerAtIng exPense ... · ImProve AccurAcy And reduce your LeAse oPerAtIng exPense And rIsk In uPstreAm oIL & gAs ProductIon. Micro Motion, Inc.

Final Expense ( Burial ) Insurance Explained

Final Expense ( Burial ) Insurance Explained

Genetic Information and Medical Expense Insurance

Genetic Information and Medical Expense Insurance

Expense allocation methodology Manitoba Public Insurance ... · Expense allocation methodology Manitoba Public Insurance Corporation ... 44 7 Appendices ... assignment. MPI was created

Expense allocation methodology Manitoba Public Insurance ... · Expense allocation methodology Manitoba Public Insurance Corporation ... 44 7 Appendices ... assignment. MPI was created

Expense Reduction Task Force - taskforce.cooper.edu Expense... · OVERVIEW In its final report, the Expense Reduction Task Force (ERTF) proposes a number of measures to reduce the

Expense Reduction Task Force - taskforce.cooper.edu Expense... · OVERVIEW In its final report, the Expense Reduction Task Force (ERTF) proposes a number of measures to reduce the

Health Insurance Protection and Medical Care …medical expenses and services in home and/or office; families with polio-expense insurance have not been counted as having medical expense

Health Insurance Protection and Medical Care …medical expenses and services in home and/or office; families with polio-expense insurance have not been counted as having medical expense

INSURANCE EXPENSE EXHIBIT - Allstate

INSURANCE EXPENSE EXHIBIT - Allstate

Our Final Expense Insurance Policy is All About Helping ... sheets v2/Libra… · First UA’s Final Expense Insurance Policy is easy. You may be able to get final expense insurance

Our Final Expense Insurance Policy is All About Helping ... sheets v2/Libra… · First UA’s Final Expense Insurance Policy is easy. You may be able to get final expense insurance

Final Expense Insurance San Antonio

Final Expense Insurance San Antonio

Our Final Expense Insurance Policy is All ... - cbinc.biz · With UA’s Final Expense Policy, you may be able to reduce the burden upon your family by helping them cover these costs:

Our Final Expense Insurance Policy is All ... - cbinc.biz · With UA’s Final Expense Policy, you may be able to reduce the burden upon your family by helping them cover these costs:

Life Health & Annuity · (since final expense insurance is not a popular product they may not know what final expense is and may ask…) “WHAT IS FINAL EXPENSE?” Final Expense

Life Health & Annuity · (since final expense insurance is not a popular product they may not know what final expense is and may ask…) “WHAT IS FINAL EXPENSE?” Final Expense

Allbrite Reduce Your Expense

Allbrite Reduce Your Expense

MINI PRACTICE SET - Novellanovella.mhhe.com/.../1068863/Mini_Practice_Set_5.pdf · 605 Advertising Expense 610 Bankcard Fees Expense 615 Insurance Expense 620 Miscellaneous Expense

MINI PRACTICE SET - Novellanovella.mhhe.com/.../1068863/Mini_Practice_Set_5.pdf · 605 Advertising Expense 610 Bankcard Fees Expense 615 Insurance Expense 620 Miscellaneous Expense

Contract Addendum Final Expense Life Insurance · wish to sell Final Expense. American Continental Insurance Company ... of such Agency Member’s termination or upon thirty days

Contract Addendum Final Expense Life Insurance · wish to sell Final Expense. American Continental Insurance Company ... of such Agency Member’s termination or upon thirty days

Collection Strategies to Reduce Uncollectible Expense

Collection Strategies to Reduce Uncollectible Expense

Excellent Insurance coverage Does Not Expense; It Pays

Excellent Insurance coverage Does Not Expense; It Pays

Six Sigma Project to Reduce Direct Hiring Expense

Six Sigma Project to Reduce Direct Hiring Expense