Federal Income Taxation of Nonlife Insurance Companies
Review the nature and structure of nonlife Federal income taxation and apply the specialized insurance knowledge necessary to complete or review Form 1120-PC. You will complete class exercises to provide hands-on preparation of a return.
As a bonus during 2021, you will receive our tax software, FIT, which automatically pulls Annual Statement data and allows you to prepare the statutory tax provisions, Annual Statement Note 9 disclosure, and Federal income tax compliance reporting.
Upon completion, you will be able to:
- Prepare or review the Form 1120-PC for insurance companies
- Calculate tax basis investment income, premiums, losses, and other underwriting items
- Calculate taxable exposure and retrospective premiums, and the acquisition cost safe harbor amount for advance premiums
- Apply the discounting rules to statutory reserves and salvage and subrogation accruals using Treasury factors
- Develop the proration adjustment for Schedule F
- Identify and calculate the revised or continuing impacts of the Tax Cuts and Jobs Act on nonlife Federal income taxation
What Attendees Have Said:
"This course has been a GREAT refresher for me!" P.S. 6/22/2020
“Overall great experience, super knowledgeable instructors.” K.S. 10/29/2019
“Overall, I would place this seminar at the level of the "Gold Standard" of CPE's. The material covered was relevant; the information provided in the printed (paper and ebook) format was at a high standard, and the oral presentations were excellent. Beyond excellent. You guys are great. Period.” K.K. 8/9/17
“This was my first time attending a Booke Seminar, and my only regret is not having attended this class earlier. Great practical and comprehensive materials explained in an easy to understand way. I really like that you provided a completed annual statement and tax return to go along with the materials, as this will be an easy reference guide to keep on the shelf.” D.H. 6/19/17
“Thank you for the great seminar on P&C Federal Income Taxation. That was by far the best CPE I've ever been to. It gave me a great starting point for my company's provision.” K.S. 6/19/17
Who Should Attend: This seminar will benefit individuals responsible for the preparation or review of Form 1120-PC.
Prerequisites and Advance Preparation: Attendees should have a basic understanding of the nonlife business and its financial reporting. We suggest those who need this knowledge attend the Overview of Statutory Financial Reporting seminar, often scheduled to precede this seminar. We also recommend our Accounting and Financial Reporting or Tax Accounting and Reporting seminar for a more thorough discussion of these topics. A $600 discount is available, see Special Offers below. No advance preparation is required.
Delivery and Program Level: Group internet-based intermediate level webinar
NASBA Publication/Revision Date: January 2021
Estimated CPE Credit: 16 hours in Taxes
Important Information About CPE for Multi-Day Webinars: CPE will be awarded separately for each webinar day attended. Daily CPE will be either full credit if the attendee responds to 75% or more of the CPE certification questions during each session, or no CPE credit if the attendee responds to less than 75% of the CPE certification questions per session. The total CPE hours awarded for the multi-day webinar, as shown on the CPE certificate, will be an accumulation of CPE per day.
Printed Course Materials: Tuition includes digital course materials. If you wish to have printed course materials, there is an additional per person charge (includes shipping). Select the Printed course materials option below; you will receive an email requesting a shipping address. Please allow at least five business days after sending your shipping address to receive the materials.
Special Offers:
- Register for this webinar and receive a voucher code for $600 off another over 7 CPE hours (excludes 7-hour Update on Accounting and Reporting)
- Group discount of $300 per attendee for the third and subsequent attendees registering for this webinar
- Current software clients receive a $100 discount with voucher code
- Only one discount code may be used per purchase
About Webinars:
- Internet Explorer is not compatible with Adobe Connect. We recommend using MS Edge, Chrome, or Firefox to access the webinar.
- We request that each person attending a webinar be registered regardless of CPE needs.
- Mobile devices or tablets cannot be used if requesting CPE since the CPE tracking program will not work with these devices.
- Registration closes 2 hours before the webinar start time.
- Before the webinar, check your computer's compatibility with our platform