This is a short, easy to read but yet descriptive explanation of the primary benefits enjoyed by owners of Captive Insurance Companies. It hits the highlights and the pitfalls in plain English - eliminating the sometimes confusing rhetoric surrounding Insurance and its impact on taxes.
It describes the comparison between "Offshore" and "Onshore" domiciles.
Any person or business with taxable annual earnings of a few hundred thousand dollars or more should use this available tool, because there is no downside and the book points out that the after tax income can easily increase and even double when using a Captive with no other change such as increased income or decreased expenses.
The very simple and useful procedure for use as a vehicle for Wealth transfer is described.
Any one of several benefits discussed can almost assuredly result in the owner realizing several hundred thousand dollars annually after taxes by owning a Captive. And every bit is included in the IRS Code and is perfectly legal.