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Final Pass-Through Tax Regulation - A Hard-Fought Win For Independent Agents
IIABA commends the Trump Administration for finalizing an IRS regulation implementing a new section of the tax code, and making it clear that owners and shareholders of insurance agencies and brokerages organized as pass-through entities can fully benefit from a new tax deduction
"This regulation is a major and hard-fought win for Big 'I' members - the vast majority of which are organized as pass-through entities,"
says Bob Rusbuldt, Big "I" president & CEO.
"Prior to the regulation being finalized there was uncertainty surrounding the application of the deduction to insurance businesses." Since the passage of the 2017 tax reform law the Big "I" has been aggressively advocating before Congress and the Administration that insurance agencies and brokerages should be eligible for the up-to 20% tax deduction on qualified business income.
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2019 Unicameral Session Up & Running
Hearing For IIAN Workers Compensation Bill Scheduled For January 28
The Nebraska Legislature opened its 2019 session on January 9, and is scheduled to conclude on June 6.
Senators will focus on a new two-year state budget while facing an estimated $95 million revenue shortfall, attempting to reduce taxes, and finding a way to fund Medicaid expansion.
January 23 is the last day for introduction of new bills - with a total of 739 introduced, including LB 139, IIAN's new bill to address the problem of independent contractors who do not cover themselves for workers compensation. IIAN's Legislative committee, co-chaired by Bob Hoppe of Columbus, and Ritch Nelson of Fort Calhoun, is actively watching 24 bills so far, impacting insurance agents, consumers, or the industry.
IIAN Legislative Representative
Jim Cavanaugh
is there every day, representing Big "I" members' interests.
Click here
to see Jim's Unicameral Update for this week.
IIAN's top issue for the two-year session is
LB 139,
introduced by Senator Mark Kolterman of Seward at IIAN's request.
Read more about LB 139
and how it will benefit contractors, hiring parties, and insurance carriers in Nebraska.
IIAN members are urged to inform clients and carriers affected by this issue, and ask for their support of LB 139. It has been scheduled for hearing before the Business & Labor Committee on January 28, 2019.
Check www.iian.org every Monday for Jim Cavanaugh's "Week In Review" report for updated status on all of the bills IIAN is watching, including IIAN's position.
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4 Trends Shaping Claims Handling In 2019
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Carriers are mobilizing high-tech solutions to manage the number and severity of claims, and are being challenged to do more with less in the face of rising customer expectations. Fortunately, technology is helping them do things faster and save significant costs. Here's what we expect to see in 2019 . . .
read more.
Source: PC 360
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4 Questions Every Independent Agency Should Ask In 2019
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We'll see more change in the insurance industry in the next five years than in the last 25. Will independent agents win in the marketplace? In order to grow your agency and remain competitive in the rapidly changing insurance industry, things can no longer be business as usual. Here are a few questions to help you improve your agency this year.
Read more...
Source: IA Magazine
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MEMBER BENEFIT HIGHLIGHTS
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January 31 webinar kicks off new IIAN InsurTech demo series
IIAN's new Digital Task Force is reviewing dozens of vendors to help you select the right digital tools for your agency - everything from the latest CRM tools to website developers to lead generation companies.
Every month IIAN will be hosting a free, live demo with a new InsurTech vendor. Every demo will be recorded so that IIAN members can review information anytime.
The first free webinar will demo Advisor Evolved on January 31, 10 - 11 a.m. CST .
Advisor Evolved helps time-strapped, non-techy independent agencies acuqire and retain more clients with mareting tools, and a gorgeous, conversion-optimized website that will never be mistaken for an out-dated, online brochure. More about Advisor Evolved.
Click here
to register today - limited to 100 attendees!
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Big "I" Hires Helps Agencies Find Top Talent
New Resource For Recruiting Services, Candidate Assessments, Training & More
Big "I" Hires offers a variety of hiring resources, including:
- Recruiting with Ideal Traits: IdealTraits is an insurance agency-specific recruiting portal that has helped more than 6,000 agencies nationwide successfully source top performing sales and service staff. Agents can post jobs, receive resumes, send assessments and identify the right recruit. Posted jobs will appear top recruiting sites including Indeed, Zip Recruiter and more.
- Do it Yourself Hiring Toolkits: For agents who want to take a hands-on approach to find the right staff member, the DIY Toolkits includes sample job descriptions, interview questions, offer letters and more. Agents can follow up with Caliper profiles and knowledge assessments to ensure they have found the right fit for their agency.
- Superior Professional Development: Agents can access onboarding resources, skills assessments and state-specific courses to help employees continue to develop their skills. Agents will also find thousands of articles on commercial lines, personal lines, forms and more to help troubleshoot tough technical insurance issues.
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Mark Your Calendar For March 6, 2019!
Registration Coming Soon
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IIAN PARTNER OF THE MONTH
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Their support enables IIAN to present affordable, high-quality member programs.
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