In this episode, Dr. Jackie Meyer and Van Carlson, CEO of SRA 831(b) Admin, discuss the complexities of risk management and the role of 831B captive insurance in modern business. They explore the evolution of risk since the introduction of the 831B tax code, the challenges posed by IRS regulations, and the importance of understanding unique business risks. Van emphasizes the need for business owners to educate themselves about risk management tools and the significance of proactive planning in navigating the complexities of insurance and compliance, especially as the Trump administration makes changes.

🔗 Connect with Van Carlson

https://www.linkedin.com/in/vancarlson

https://www.831b.com/

🔗 Connect with Dr. Jackie Meyer

Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa

Jackie on Instagram @jackiemeyerCPA

Jackie's work at https://www.jackiemeyercpa.com

This episode is brought to you by TaxPlanIQ:

https://www.taxplaniq.com

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Takeaways:

- Risk management is crucial for entrepreneurs.

- The 831B tax code allows for self-insuring unique risks.

- IRS regulations can complicate captive insurance strategies.

- Business owners should assess their unique risks regularly.

- Captive insurance can provide tax planning & financial advantages if managed correctly.

- Understanding the lifecycle of a captive is essential for business owners.

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- Education is key to making informed decisions about risk management.

- The landscape of risk is evolving with technology and market changes.

- Collaboration with CPAs and financial advisors is vital.

- Captive insurance is not just for large corporations; small businesses can benefit too.