How can businesses safeguard themselves against economic uncertainties using the 831B tax code? Join us as we welcome Van Carlson, the innovative founder and CEO of SRA831B, who unveils the potential of this tax code as a powerful tool for business risk management. From the complexities of the 1986 Tax Reform Act to the practicalities of building a financial reserve with pre-tax dollars, Van breaks down how businesses can manage self-insured risks effectively. Traditional insurance markets often leave gaps, but with 831B plans, companies can create their own financial buffer to tackle unforeseen expenses and maintain business continuity. We illustrate this with real-world examples, such as auto dealerships and warranties, highlighting how these strategies mirror the operations of large insurance companies and benefit industries across the board.
In our discussion, Van shares his fascinating journey from being a history teacher and football coach to becoming a trusted insurance professional dedicated to ensuring client success. The episode focuses on the importance of integrity, honest communication, and setting up sound risk management practices for small and mid-sized businesses. We emphasize educating business owners on the necessity of financial reserves, not just for physical damages but also for modern threats like cyber risks. By advocating for sensible regulations and tax incentives, Van and SRA831B are committed to equipping businesses with the tools they need to thrive amidst economic challenges, ensuring a legacy of sustainability and success. Tune in to discover how these insights can revolutionize your approach to risk management and secure your business’s future.
Episode Highlights
Practical Applications and Industry Benefits:
Van provides real-world examples, such as auto dealerships and warranties, demonstrating how 831B strategies mirror the operations of large insurance companies. These insights reveal how businesses across various industries can benefit from creating robust financial reserves, turning potential liabilities into manageable risks.
From Educator to Insurance Innovator:
Discover Van’s inspiring journey from a history teacher and football coach to a trusted insurance professional. His commitment to client success and integrity underscores the importance of honest communication and sound risk management practices for small and mid-sized businesses.
Equipping Businesses for Modern Threats:
The episode emphasizes the necessity of financial reserves not only for physical damages but also for modern threats like cyber risks. Van and SRA831B advocate for sensible regulations and tax incentives, providing businesses with the tools to thrive amidst economic challenges.
Ensuring Business Sustainability and Success:
Through this episode, gain insights on how the 831B tax code can revolutionize your approach to risk management. Equip your business with strategies to secure its future, ensuring a legacy of sustainability and success. Tune in to learn how these innovative approaches can safeguard your enterprise against both traditional and emerging threats.
Connect with Paul here:
Website: https://innovativewealth.com/
Instagram: https://businesslegacypodcast.com/
Connect with Van here:
Website: https://www.831b.com/
LinkedIn: https://www.linkedin.com/in/vancarlson/
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About Van:
Van Carlson is the Founder & CEO of SRA 831(b) Admin and has over 25 years of experience within the risk management industry. With a steadfast commitment to empowering trusted advisors and entrepreneurs through innovative risk solutions, Carlson has been a guest on more than 75 podcasts in a myriad of industries and has presented at conferences across the country. Carlson has also spearheaded SRA to new heights, earning a spot on the Inc 5000 among other prestigious awards. Prior to founding SRA, Van ran his own property and casualty firm for 15 years and was awarded Presidents Council’s and other top-performing achievements during his tenure as a P&C Agent. In 2008, he saw the Great Recession hit his commercial business clients hard, and just like them, he was also affected by the sharp downturn in our economy. During this time, he realized there must be a better way to manage risk overall. From that desire to improve business operations for both himself and his clients, along with his extensive background in insurance, risk management, and finance, a mission to educate others about 831(b) Plans began and continues.
