Our Approach is NOT a One Size Fits All…
We work for you and not the Insurance Company!
We provide individually customized options based on our clients’ needs:
- Choose one or more products from a wide-range of industry leading providers
- Hands-on and dedicated support every step of the way. We work for YOU
- Consultative approach with multiple company and structure options
Retrospective Commission (RC)
- dealer assumes no risk
- only participate in the profits
- Generates long-term income, with no upfront costs
- Profit and equity bonuses available.
Controlled Foreign Corporations (CFC)
- Dealer establishes reinsurance company offshore and elects to be taxed as a U.S. insurance company for Federal Income Tax purposes.
- earn all underwriting profits and investment income on ceded reserves produced.
- Company makes a 953d election, which makes the offshore domiciled company a domestic company for tax purposes
- CFC will file a U.S. Corporate Insurance Company Income Tax Return.
- Permanent tax exclusion for underwriting profits under IRC Section 831(b).
- Distributions taxable at preferential dividends tax rates.
Non-Controlled Foreign Corporations (NCFC)
- Dealer buys a share(s) of stock in an established offshore reinsurance company.
- Earns 100% of underwriting profits and investment income earned on ceded reserves produced.
- not subject to income taxation in country of domicile.
- Shareholder taxation is deferred until such time as distribution is made with respect to shares of stock owned.
- Distributions taxable as long-term capital gains
Dealer Owned Warranty Company (DOWC)
- Dealer forms new corporation (C Corp) in the state of the producing dealership(s).
- DOWC is obligor on VSC products and is registered as service contract provider in states it will do business.
- Program is administered by third party admin company.
- DOWC files both State and Federal income tax returns and no premium taxes paid.
- DOWC utilizes retail cost accounting which is advantageous for tax deferral.
- Company does not make IRC Section 831(b) election until it is placed into runoff status.
Contact us today to schedule a dealer review!
WFIS, Inc. will handle the formation, setup and management of all structure options. Books, records, taxes and accounting services are all provided by WFIS, Inc.
Every structure we offer is 100% transparent, and you earn 100% of the profits.
