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CIC Insurance Ideal for Doctors
October 1st 2003What are captive insurance companies (CICs) and why should physicians consider using them? The CIC we will address here is a legitimate insurance company, licensed to write insurance in the U.S., registered with the IRS, but typically based in an offshore jurisdiction, such as Bermuda or the British Virgin Islands. Most CICs are established in these countries because of their favorable insurance laws and tax treatment, although the funds in the CICs can be maintained and managed in the United States.
New Tax Relief Legislation Allows for Write-Off
October 1st 2003The out-of-pocket expenditures needed to buy the equipment used in every practice have always been reduced or helped by tax laws. Today, thanks to the new Jobs and Growth Tax Relief Reconciliation Act of 2003, the needed equipment may be more affordable than ever.