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SmithGroup partners with Plante Moran to establish captive insurance and saves tax dollars in the process

March 7, 2022 Case Study 3 min watch
Authors:
Crystal Eustis
Plante Moran helps SmithGroup establish a captive insurance company and save significant tax dollars in the process. Here’s how.

Kevin Piontkowski, vice president and CFO of architecture firm SmithGroup, was a newcomer to the industry when he joined in 2018. Plante Moran has provided audit and tax services to SmithGroup for years, and our familiarity with both SmithGroup and the architecture and engineering industry proved to be an invaluable resource as he acclimated to his new role. Because of our established reputation as a trusted advisor, when SmithGroup sought to set up their own captive insurance company, they reached out to us for help.

Captive insurance companies are often subject to considerable scrutiny by the IRS. As such, we involved our insurance industry specialists, whose expertise covered the spectrum of audit and tax concerns related to insurance entities, to help SmithGroup through the process.

Not only were we able to help establish the desired level of coverage while limiting SmithGroup’s risk exposure, our approach also enabled SmithGroup to leverage tax law and receive significant tax benefits as a result.

Want to find out how we can help your organization? We’re ready when you are. Let’s chat.

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