Held Captive by Crooked INSURANCE? Insurance Companies and Tax Havens in Puerto Rico! pt2
This video demonstrates that unscrupulous promoters lure US persons into putting their assets in offshore accounts and structures sold as being out of reach of the IRS. One such tax shelter is the captive insurance company, typically based offshore, where a tax-dodging business owner gets an inflated policy at an unethical captive insurance company and takes a huge deduction for that insurance expense. The insurance company then segregates the premiums earned from each client and attributes them solely to the business owner's policy, allowing premiums to build up in the business owner's account for years. The premiums are then kicked-back to the business owner as stock options or other kickbacks. A supplemental industry-based risk policy with high self-insurance retention amounts is added to evade the requirement for risk distribution. Puerto Rico segregated asset companies also suffer similar effects of this abusive captive Insurance scheme.
Thanks for watching! Please Like, Comment, or Subscribe for more videos!
This is a Clip from the Vlog "r/IRS Questions," which hopes to provide a steady path of information for the /r/IRS Reddit community and anyone interested in tax compliance. This channel also features the latest Internal Revenue Service news, IRS commentary, and tips from tax expert John R. Dundon.
www.reddit.com/r/IRS
www.JohnRDundon
-
8:06
Vigilant News Network
3 hours agoCOVID Vaccines Hit by New Bombshell | Beyond the Headlines
19K17 -
LIVE
SilverFox
1 day ago🔴LIVE - Elden Ring SHADOW OF THE ERDTREE - Part 2
236 watching -
55:06
Ben Shapiro
5 hours agoEp. 1990 - Behold The INSANE Future Of The Democratic Party
57.3K47 -
1:09:24
Russell Brand
8 hours agoTHEY’RE PLOTTING SOMETHING HUGE! Putin and Kim Jong Un meet - Stay Free 392
125K209 -
57:58
The Dan Bongino Show
8 hours agoTrump's Secret Weapon (Ep. 2276) - 06/24/2024
573K1.95K -
2:16:23
The Shannon Joy Show
8 hours ago🔥RIGGED! Bobby Kennedy Booted From CNN Debate - Ensuring False Choices & Corrupt Factions In 2024🔥
45K55 -
2:06:46
Steven Crowder
8 hours agoBREAKING REPORT: ARMY Admits Debilitating Heart Conditions Linked to Covid Vax!
305K546 -
1:09:09
Benny Johnson
6 hours agoTrump Press Sec Responds LIVE After CNN CUTS Her Feed for EXPOSING Rigged Debate: 'Take Her Off Air!
92.6K251 -
1:36:49
Mostly Sports With Mark Titus and Brandon Walker
22 hours agoMostly Sports with Mark Titus & Brandon Walker Presented by Jägermeister | EP 195 | 6.24.24
42.6K -
1:15:39
Graham Allen
9 hours agoWW3 Already Start?! Russia Blames BIDEN For Attack! + AOC Embarrasses Herself In The Bronx
75.1K209