As an expert witness Lance Wallach side has never lost a case!
Specialize in 419 plans,412i plans, captive insurance plans, welfare benefit plans, section 79 plans
Lance Wallach Wrote the BookNew and Bestselling AICPA CPE Self-Study CoursesAt the AICPA Store you'll find more than 200 titles in a variety of formats to best meet your needs. Get practical guidance. Stay up-to-date on hot topics. Train your staff. Meet CPE reporting deadlines. Get real-time exam results with online grading. Check out this month's picks below. Turn to the AICPA for quality, value and convenience in CPE self-study products. Order today.Author/Moderator: Lance Wallach, CLU, CHFC, CIMCPublisher: AICPAAvailability: In StockChapter 1 - Planning for Business OwnersLearning ObjectivesIntroductionBuilding the Perfect Retirement PlanSEP IRA: The GoodSEP IRA: The BadSEP IRA: The UglyThe KThe Double KDefined Benefit PlansAdding Survivor Benefits412(i) Defined Benefit PlanCash Balance PlansVEBAs and 419 PlansTaxability of Trust Net IncomeTaxability of Excess BenefitsGroup-Term Life Insurance PlanPost-Retirement Medical BenefitVoluntary Employees Beneficiary Association (VEBA) - CommentaryNew Development - Welfare Benefit Plans under Section 419(e)Executive Carve Out Long-Term CareWhat Is Long-Term Care?How Much Does It CostBenefits of Long-Term Care Insurance to EmployeesBenefits of Long-Term Care Insurance to EmployersExecutive Carve Out Long-Term CareTaxabilityLong-Term Care Insurance Premium Deductibility2007 Eligible Long-Term Care Insurance Premiums Age-Based Deduction Limits
Help with Common IRS ProblemsTuesday, March 11, 2014Listed Transactions & 419 Plans Litigation: Have You Dealt With Any Of These People?Kenny Ha...Listed Transactions & 419 Plans Litigation: Have You Dealt With Any Of These People?Kenny Ha...: Have You Dealt With Any Of These People? Kenny Hartstein Dennis Cunning Steve Toth Larry Bell Scott Rid...Two federal regulatory agencies are in hot pursuit of a shadowy hedge fund figure and various companies associated with him, claiming they pumped millions into Bernard Madoff feeder funds and other unsuccessful investments, then lied about the losses.On Sept. 7, both the Securities and Exchange Commission and the U.S. Commodity Futures Trading Commission filed actions in the federal Northern District of Illinois against Nikolai S. Battoo, 41, who apparently has most recently operated in Florida.In announcing its action, the SEC said Battoo has run numerous hedge funds and claims to manage $1.5 billion for investors worldwide, including at least $100 million in the United States.Battoo has gathered “tens of millions of dollars” in investments since 2009, all the while losing millions more, the SEC also said in a detailed, 32-page complaint.He has managed money through a series of companies including BC Capital Group, of Panama, and BC Capital Group Limited, which is believed to be run from Hong Kong. He also manages several hedge funds and is “senior advisor” for an outfit called Private International Wealth Management, and is thought to be affiliated with FuturesOne LLC, a commodities pool located in Lincoln, Neb.Have You Dealt With Any Of These People?Kenny Hartstein Dennis Cunning Steve TothLarry Bell Scott Ridge Randall SmithGreg Roper Tracy Sunderlage Joseph DonnellyNorm Bevan Michael Sonnenberg Judy CarsrudMichael Carroll Anthony FakouriSteve Burgess Tom Crosswhite Wednesday, August 22, 2012Have You Dealt With Any Of These People?Kenny Hartstein Dennis Cunning Steve TothLarry Bell Scott Ridge Randall SmithGreg Roper Tracy Sunderlage Joseph DonnellyNorm Bevan Michael Sonnenberg Judy CarsrudDan Carpenter Michael Carroll Anthony FakouriSteve Burgess Tom CrosswhiteThan You Should Know:The dangers of being "listed"A warning for 419, 412i, Sec.79 and captive insuranceAs published in:AccountingToday: October 25, 2010By: Lance WallachTaxpayers who previously adopted 419, 412i, captive insurance or Section 79 plans are in big trouble.In recent years, the IRS has identified many of these arrangements as abusive devices to funnel tax deductible dollars toshareholders and classified these arrangements as "listed transactions."
SearchMain menuSkip to primary contentSkip to secondary contentHomePost navigation← PreviousCaptive InsurancePosted on February 12, 2014Choosing a domicile.■ Regulatory environment. Some jurisdictions are friendlier than others, or theirstatutes may permit different used and forms of captives.■ Minimum capitalization requirements – varies between jurisdictions from$150,000 to $750,000. Separate series of a group captive requires risk-basedamount of capital, typically■ Start-up costs and annual maintenance – typical start-up costs range from$50,000 to $80,000 for pure captive (plus required capital) and from $20,000to $25,000 for cell (or series) of group captive.■ Underwriting risk classification• Traditional coverage or non-traditional coverage, such as loss of license.■ Tax implications.• Small insurance company with premiums less than $1,200,000. SeeSection 831(b) of the Internal Revenue Code. Applies to US tax-lawcompliant companies.• Excise taxes on premiums paid for non-US captives. This entry was posted in Uncategorized and tagged Captive Insurance, Captive Insurance History, compliance, Expert Witness, Lance Wallach, Lance Wallach Expert Witness by Admin. Bookmark the permalink.0 THOUGHTS ON “CAPTIVE INSURANCE”lance on April 10, 2014 at 12:55 pm said:Your comment is awaiting moderation. 412i 419E IRS Audits and Problems412i, 419e plans litigation and IRS Audit Experts for abusive insurance based plans deemed reportable or listed transactions by the IRS.Thursday, March 29, 2012Captive Insurance and Other Tax Reduction Strategies – The Good, Bad, and UglyBy Lance Wallach May 14thEvery accountant knows that increased cash flow and cost savings are critical for businesses. What is uncertain is the best path to recommend to garner these benefits.Over the past decade business owners have been overwhelmed by a plethora of choices designed to reduce the cost of providing employee benefits while increasing their own retirement savings. The solutions ranged from traditional pension and profit sharing plans to more advanced strategies.Some strategies, such as IRS section 419 and 412(i) plans, used life insurance as vehicles to bring about benefits. Unfortunately, the high life insurance commissions (often 90% of the contribution, or more) fostered an environment that led to aggressive and noncompliant plans.The result has been thousands of audits and an IRS task force seeking out tax shelter promotion. For unknowing clients, the tax consequences are enormous. For their accountant advisors, the liability may be equally extreme.Recently, there has been an explosion in the marketing of a financial product called Captive Insurance Plans These so called “Captives” are typically small insurance companies designed to insure the risks of an individual business under IRS code section 831(b). When properly designed, a business can make tax-deductible premium payments to a related-party insurance company. Depending on circumstancesReply ↓
Lance Wallach Life InsuranceWednesday, April 30, 2014Why You Should Stay Away from Section 79 Life Insurance PlansI’ve had several calls lately from doctors who are being pitched Section 79 plans and are wondering if these plans are any good. The doctors are being told that Section 79 plans are the best wealth-building tool they can use to reduce their income taxes and create a tax-free retirement incomeMust ReadPosted by Lance Wallach at 9:02 AM Email ThisBlogThis!Share to TwitterShare to FacebookShare to PinterestLabels: Class Action Lawsuit, Financial, insurance, insurance plans, Section 791 comment:Lance WallachMay 2, 2014 at 10:00 AMLance Wallach helps with 419 problems. 412i 419 abusive tax shelters IRS audits, lawsuits, Lance Wallach will help www.vebaplan.com419, 412i, IRS audits, Lance Wallach, Google him helps, The following had something to do with this.Dennis Cunning Steve Toth Randall Smith Paul Kaplan Herb Green Casey HermansenLarry Bell Scott Ridge Judy Carsrud Jeffrey Glasberg Herb McDowel Greg Roper Joseph DonnellyNorm Bevan Michael Sonnenberg r Anthony FakouriSteve BurgessRobin Weingast IRS audits 419 412i captive insurance and section 79 plans. Lance Wallach will help you.IRS audits section 79 419 412i plans. www.lancewallach.com for help, IRS raids, Niche, Robin Weingast, Lance Wallach helps, Sadi trust, grist Mill trust, nova 419 welfare benefit plan problems and how Lance Wallach helps.www.vebaplan.com for more help. Sea Nine VEBA, 419, 412i, IRS audits,Sea Nine VEBA, are all audited by the IRS and people in them probably need help.Sea Nine VEBA, 419,412i are all IRS audit targets. Lance Wallach can help, www.tazaudit419.com 419, 412i, IRS audits, Lance Wallach, Google him helps, The following had something to do with this. Author to write about these problems.Dennis Cunning Steve Toth Randall Smith Paul Kaplan Herb Green Casey HermansenLarry Bell Scott Ridge Judy Carsrud Jeffrey Glasberg Herb McDowel Greg Roper Joseph DonnellyNorm Bevan Michael Sonnenberg Anthony FakouriSteve BurgessRobin Weingast " Lance Wallach will help fix the problems that people have that are or were in the plans."Professional Benefits Trust" PBI"Sea Nine Veba" Bisys The "Beta Plan" The "Millennium Plan" Niche The "Ridge Plan"The "Compass Welfare Benefit Plan" "Section 79 Plans" "Captive Insurance" and other similar "412i retirement plans" and "419 welfare benefit plans Lance Wallach, www.taxaudit419.com will help you with these problems and more like section 79, captive insurance lawsuits and IRS audits. People in the section 79 plans 419 welfare benefit plans captive insurance and 412i pension plans are getting audited by the IRS and then they sue. Google Lance Wallach for help with this. If you need help Lance Wallach as an expert witness has never lost a case. You need help NOW. Google lance wallach or www.vebaplan.com for 419 412i captive insurance or section 79 audits lawsuits get your money back etc.Customers of James Cunningham d/b/a Cunningham Financial or CFG Consulting LLC? We want to speak with you!IRS audits and lawsuits result from 419 412i captive insurance and section 79 plans. As an expert witness Lance Wallach has never lost a case.