Wesley Sierk's Blog

Captive Insurance Companies for Hedge Funds

Posted in Uncategorized by rwsierk on November 10, 2014

Captive Insurance Companies for Hedge Funds. Read my new article here: http://ow.ly/E4yGz

Advertisements

I just posted my 2014 Voter Guide. I’d

Posted in Uncategorized by rwsierk on November 3, 2014

I just posted my 2014 Voter Guide. I’d Love your feedback. Feel free to print it out and take with to the voter box!! http://ow.ly/DM6YN

MY 2014 Voter Guide

Posted in Uncategorized by rwsierk on November 3, 2014

STATEWIDEBALLOTSUMMARIES
(Source:http://ballotpedia.org/California_2014_ballot_propositions)

PROP1:WaterQuality,Supply,andInfrastructureImprovementActof2014.ᅠ- YES

Authorizes $7.12ᅠbillionᅠinᅠgeneralᅠobligationᅠbondsᅠforᅠstateᅠwaterᅠsupplyᅠinfrastructureᅠprojects,ᅠsuchᅠasᅠsurfaceᅠandᅠ
groundwaterᅠstorage;ᅠecosystemᅠandᅠwatershedᅠprotectionᅠandᅠrestoration;ᅠdrinkingᅠwaterᅠprotection;ᅠ
waterᅠsupplyᅠmanagement;ᅠwaterᅠrecyclingᅠand advancedᅠwaterᅠtreatmentᅠtechnology;ᅠandᅠfloodᅠcontrol.ᅠ

Reallocatesᅠ$425ᅠmillionᅠofᅠunusedᅠbondᅠauthorityᅠfromᅠpriorᅠwaterᅠbondᅠacts,ᅠforᅠsameᅠpurposes.ᅠ

PROP2:StateBudget.BudgetStabilizationAccount.LegislativeConstitutionalAmendment.ᅠ- YES

Requiresᅠannualᅠtransferᅠofᅠ1.5%ᅠofᅠgeneralᅠfundᅠrevenuesᅠtoᅠstateᅠbudgetᅠstabilizationᅠaccountᅠ(Rainyᅠ
DayᅠFund).ᅠRequiresᅠadditionalᅠtransferᅠofᅠpersonalᅠcapitalᅠgainsᅠtaxᅠrevenuesᅠexceedingᅠ8%ᅠofᅠgeneralᅠ
fundᅠrevenuesᅠtoᅠbudgetᅠstabilizationᅠaccountᅠand,ᅠunderᅠcertainᅠconditions,ᅠaᅠdedicatedᅠK–14ᅠschool
reserveᅠfundᅠ(PublicᅠSchoolᅠSystemᅠStabilizationᅠAccount).ᅠ

PROP45:HealthcareInsurance.RateChanges.InitiativeStatute. ᅠ- NO

Requiresᅠchangesᅠtoᅠhealthᅠinsuranceᅠrates,ᅠorᅠanythingᅠelseᅠaffectingᅠtheᅠchargesᅠassociatedᅠwithᅠ
healthᅠinsurance,ᅠtoᅠbeᅠapprovedᅠbyᅠInsuranceᅠCommissionerᅠbeforeᅠtakingᅠeffect.ᅠ

Prohibitsᅠhealth,ᅠauto,ᅠandᅠhomeownersᅠinsurersᅠfromᅠdeterminingᅠpolicyᅠeligibilityᅠorᅠratesᅠbasedᅠonᅠ
lackᅠofᅠpriorᅠcoverageᅠorᅠcreditᅠhistory.ᅠ

PROP46:DrugandAlcoholTestingofDoctors.MedicalNegligenceLawsuits.InitiativeStatute. – NO

RequiresᅠdrugᅠandᅠalcoholᅠtestingᅠofᅠdoctorsᅠandᅠreportingᅠofᅠpositiveᅠtestᅠtoᅠtheᅠCAᅠMedicalᅠBoard,ᅠalsoᅠ
doctorsᅠtoᅠreportᅠanyᅠotherᅠdoctorᅠsuspectedᅠofᅠdrugᅠorᅠalcoholᅠimpairmentᅠorᅠmedicalᅠnegligence.ᅠ

Increasesᅠ$250,000ᅠcapᅠonᅠpainᅠandᅠsufferingᅠdamagesᅠinᅠmedicalᅠnegligenceᅠlawsuitsᅠtoᅠaccountᅠforᅠinflation.ᅠ

PROP47:CriminalSentences.MisdemeanorPenalties.InitiativeStatue. – NO

Reduceᅠtheᅠclassificationᅠofᅠmostᅠ”nonseriousᅠandᅠnonviolentᅠpropertyᅠandᅠdrugᅠcrimes”ᅠfromᅠaᅠfelonyᅠtoᅠ
aᅠmisdemeanor.ᅠ

CreateᅠaᅠSafeᅠNeighborhoodsᅠandᅠSchoolsᅠFund.ᅠAppliesᅠsavingsᅠtoᅠmentalᅠhealthᅠandᅠdrugᅠtreatmentᅠ
programs,ᅠK–12ᅠschools,ᅠandᅠcrimeᅠvictims.ᅠ

PROP48:IndianGamingCompact.Referendum. – NO

Aᅠ“Yes”ᅠvoteᅠapproves,ᅠandᅠaᅠ“No”ᅠvoteᅠrejects,ᅠaᅠstatuteᅠthat:ᅠ

RatifiesᅠtribalᅠgamingᅠcompactsᅠbetweenᅠtheᅠstateᅠandᅠtheᅠNorthᅠForkᅠRancheriaᅠofᅠMonoᅠIndiansᅠandᅠ
theᅠWiyotᅠTribe.ᅠ

Omitsᅠcertainᅠprojectsᅠrelatedᅠtoᅠexecutingᅠtheᅠcompactsᅠorᅠamendmentsᅠtoᅠtheᅠcompactsᅠfromᅠscopeᅠ
ofᅠtheᅠCaliforniaᅠEnvironmentalᅠQualityᅠAct.

STATEWIDECANDIDATES

Governorᅠ‐ᅠNeelᅠKashkariᅠ

LieutenantGovernorᅠ‐ᅠRonᅠNehringᅠ

SecretaryofStateᅠ‐ᅠPeteᅠPetersonᅠ

AttorneyGeneralᅠ‐ᅠRonᅠGoldᅠ

Controllerᅠ‐ᅠAshleyᅠSwearenginᅠ

Treasurerᅠ‐ᅠGregᅠConlonᅠ

InsuranceCommissionerᅠ‐ᅠTedᅠGainesᅠ

SuperintendentofPublicInstructionᅠ‐ᅠMarshallᅠTuckᅠ

BOARDOFEQUALIZATIONCANDIDATES

BOE#3ᅠ‐ᅠG.ᅠRickᅠMarshallᅠ

CONGRESSIONALCANDIDATES

 CD33ᅠ‐ᅠElanᅠCarrᅠ

STATEᅠSENATEᅠCANDIDATESᅠ

SDᅠ18ᅠ‐ᅠRicardoᅠBenitezᅠ

SDᅠ20ᅠ‐ᅠMatthewᅠMunsonᅠ

SDᅠ22ᅠ‐ᅠMarcᅠRodriguezᅠ

SDᅠ32ᅠ‐ᅠMarioᅠGuerraᅠ

SDᅠ34ᅠ‐ᅠJanetᅠNguyenᅠ

STATEᅠASSEMBLYᅠCANDIDATESᅠ

ADᅠ66ᅠ‐ᅠDavidᅠHadleyᅠ

LOSANGELESCOUNTY

Sheriffᅠ‐ᅠJimᅠMcDonnellᅠ

CountyAssessorᅠ‐ᅠJohnᅠMorrisᅠ

BoardofSupervisor#3ᅠ‐ᅠBobbyᅠShriverᅠ

(EndorsedbyLosAngelesCountyBusinessFederation)

MeasurePSafeNeighborhoodParks: NO

To ensureᅠcontinuedᅠfundingᅠfromᅠanᅠexpiringᅠvoter‐approvedᅠmeasureᅠforᅠimprovingᅠtheᅠ safetyᅠofᅠneighborhoodᅠparksᅠandᅠsenior/youthᅠrecreationᅠareas;ᅠassistingᅠinᅠgangᅠprevention;ᅠprotectingᅠrivers,ᅠbeaches,ᅠwaterᅠsources;ᅠrepairing,ᅠacquiring/preservingᅠparks/naturalᅠareas;ᅠmaintainingᅠzoos,ᅠmuseums;ᅠprovidingᅠyouthᅠjob‐training…ShallᅠLosᅠAngelesᅠCountyᅠlevyᅠanᅠannualᅠ$23/parcelᅠspecialᅠtax,ᅠrequiringᅠannualᅠindependentᅠfinancialᅠauditsᅠandᅠallᅠfundᅠusedᅠlocally.

JUDICIALRECOMMENDATIONS

SupremeCourt

GoodwinᅠLiu – NO

Mariano‐FlrentinoᅠCuellarᅠ- NO

KathrynᅠMickleᅠWerdegarᅠ- YES

ᅠᅠ

CourtofAppealJustice

FrancesᅠRothschildᅠ- NO

JeffreyᅠW.ᅠJohnsonᅠ- YES

BrianᅠHoffstadtᅠ – YESᅠ

LeeᅠAnneᅠEdmonᅠ- YES

AudreyᅠB.ᅠCollinsᅠ- NO

NoraᅠM.ᅠManellaᅠ- YES

PaulᅠA.ᅠTurnerᅠ- YESᅠ

KennethᅠR.ᅠYeganᅠ- YES

DennisᅠM.ᅠPerlussᅠ- NO

LaurenceᅠD.ᅠRubinᅠ- NO

MadeleineᅠI.ᅠFlierᅠ- NO

JudgeoftheSuperiorCourt

OfficeNo.61ᅠDayanᅠMathaiᅠ(#133)ᅠᅠ YESᅠ

OfficeNo.87ᅠAndrewᅠM.ᅠSteinᅠ(#135)ᅠᅠ YESᅠᅠᅠᅠᅠᅠᅠᅠ

Creating a captive insurance company may

Posted in Uncategorized by rwsierk on June 9, 2014

Creating a captive insurance company may be a great strategy for businesses that manage their insurance risks and profit from the tax advantages, premium discounts and portfolio management. Steve Savant, syndicated financial columnist and talk show host, interviews nationally recognized captive insurance expert and author Wes Sierk.

http://youtu.be/quWQY2htqoU

Creating a captive insurance company may

Posted in Uncategorized by rwsierk on June 6, 2014

Creating a captive insurance company may be a great strategy for businesses that manage their insurance risks and profit from the tax advantages, premium discounts and portfolio management. Steve Savant, syndicated financial columnist and talk show host, interviews nationally recognized captive insurance expert and author Wes Sierk.

http://youtu.be/quWQY2htqoU

What is the IRS environment on captive i

Posted in Uncategorized by rwsierk on June 6, 2014

What is the IRS environment on captive insurance companies?
The IRS targets companies that annual charge premiums which match the annual premium deduction. Advisers that promote captive insurance companies for the premium deduction to sell life insurance appear to be on the radar of the service and continues to draw the ire of responsible financial professionals. Steve Savant, syndicated financial columnist and talk show host of Let’s Get Down to Business, interviews nationally recognized captive insurance company expert, Wes Sierk, ChFC, ACI, ARM.

http://youtu.be/iG6Dpvmq9B8

What are the tax advantages of a captive

Posted in Uncategorized by rwsierk on June 6, 2014

What are the tax advantages of a captive insurance company?
Many companies self-insure and don’t create captive insurance companies. They’re only allowed to deduct the actual claims. A captive insurance company can deduct the company funding, negotiate direct with reinsurance companies and profit from the difference between claims and premium. Steve Savant, syndicated financial columnist and talk show host of Let’s Get Down to Business, interviews nationally recognized captive insurance company expert, Wes Sierk, ChFC, ACI, ARM.

http://youtu.be/1Xcfk7JaIhk

Why should advisers offer captive insura

Posted in Uncategorized by rwsierk on June 6, 2014

Why should advisers offer captive insurance companies?
Advisers are always looking for a distinctive entre into the business market. Offering captive insurance strategies is not a mainstream financial area advisors cultivate. Captives offer tax advantages, premium discounts and portfolio management. Well-versed advisers can differentiation their practice from other financial professional business models. Steve Savant, syndicated financial columnist and talk show host of Let’s Get Down to Business, interviews nationally recognized captive insurance company expert, Wes Sierk, ChFC, ACI, ARM.
http://youtu.be/-9AfZOSUo34

What are captive insurance companies? Mo

Posted in Uncategorized by rwsierk on June 6, 2014

What are captive insurance companies?
More than half of American big business is participating at some level in the captive insurance market. These businesses manage to their insurance risk and profit by it through the creation of their own insurance company. Some companies lease captives from traditional insurance company or belong to similar sector groups. They all have one goal in mind saving money on premiums and profiting from low claims. Steve Savant, syndicated financial columnist and talk show host of Let’s Get Down to Business, interviews nationally recognized captive insurance company expert, Wes Sierk, ChFC, ACI, ARM.

http://youtu.be/TSOGOySybwc

Here is a recent article on State Tax Cr

Posted in Uncategorized by rwsierk on December 31, 2013

Here is a recent article on State Tax Credits from the LA Times. http://ow.ly/sbahT