Financial Resources
Resources Template 1
 

Financial Resources

Access tools to help your agency with accounting best practices and opportunities to improve financial acumen.

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Accounting practices for independent insurance agencies differ greatly from those traditionally used by other small businesses. Here are 10 tips for your agency’s accounting department.

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Agency accounting is not the same as accounting for other businesses. Often times accountants can create misleading or inaccurate information due to not understanding how agencies operate. Here is a list of accounting best practices for insurance agencies.

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Review documents and worksheets that can help you with cash flow budgeting, a business plan and more.

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This set of worksheets allows you to input your financial information to see how you compare against agencies your size. Compiled from best practices data, this valuable tool is something you will want to use.

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Whether your goal is to maximize owners contributions, lower your agencys tax burden, or retain key employees, our retirement professionals can tailor and customize a plan to fit your needs.

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InsurBanc is a leader in agency financing. From cash management sweep products to banking for you and your agency, this bank made for insurance agents was made for you.

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IntellAgents is here to ensure independent insurance agencies are empowered with the right tools to plan their agency's perpetuation.

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Have you ever wondered if you are paying too much for a lead? Use this Lead ROI Calculator to discover the return based off the cost for each lead and the total revenue each lead generates.

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Utilize this toolkit to find consulting services, sample documents including checklists and letters, valuation methods and review perpetuation resources.

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On Jan. 18, 2019, the IRS issued final regulations implementing Section 199A of the Tax Code. Section 199A is a new section of the Tax Code that became law in late 2017 as part of a broader tax reform package. Section 199A creates a new eduction based on the taxable income levels of owners and shareholders of certain businesses organized as pass-through entities, such as partnerships and S-corps.

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As an insurance agent, there is no one who understands the importance of protecting your assets better than you. Proper accounting and bookkeeping practices help protect your business from potential disaster by ensuring your finances are always in order, no matter what comes your way.

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On Jan. 18, 2019, the IRS issued final regulations implementing Section 199A of the Tax Code, which created a deduction of up to 20% on qualified business income from pass-through entities. If your agency is organized as a C-corporation the regulation does not impact you. Under the 2017 tax reform law starting with taxable year 2018 C-corporations are subject to a 21% flat tax and there is no corporate alternative minimum tax (AMT). Prior to 2018 the tax rate for C-corporations was tiered with the highest marginal tax rate being 39%. Approximately one-third of Big “I” members are C-corporations.

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