Oxford Risk Management Group
954 Ridgebrook Road, Sparks, Maryland, United States
About the Oxford Risk Management Group
Oxford Risk Management Group is a reputable insurance agency located at 954 Ridgebrook Road in Sparks, Maryland, United States. With a team of experienced professionals, they provide a wide range of insurance services to individuals and businesses. Whether you are looking for coverage for your home, car, or business, Oxford Risk Management Group offers personalized solutions to meet your specific needs. Their commitment to excellence and customer satisfaction sets them apart in the industry. Trust Oxford Risk Management Group to provide you with the protection and peace of mind you deserve.
954 Ridgebrook Rd #100, Sparks, MD 21152, United States
Opening hours of Oxford Risk Management Group
Monday:
09:00 - 18:00
Tuesday:
09:00 - 18:00
Wednesday:
09:00 - 18:00
Thursday:
09:00 - 18:00
Friday:
09:00 - 18:00
Saturday:
Day off
Sunday:
Day off
Reviews of Oxford Risk Management Group
"Oxford is very good at setting up micro-captives and maintaining them for all of you who want alternative risk management solutions. They go to great lengths not to discuss any tax advantages, which there are plenty. What they don't do well is communicate how badly the IRS and states view captives. They are not upfront about the significant risk to your small business and quite frankly, your health. The current head of the IRS personally wrote the micro-captive targeting strategy to take down any and all 531b micro-captives. Everyone I know who has or has had a captive over the last several years is under audit or under threat of audit. That's no way to live. After several years of very legitimate risk management in the 531b micro-captive program managed by Oxford, the IRS came knocking on our door. Here's how it works: You open a captive and run it for several years. You make legitimate claims if needed and you take your deductions. You also get an annual threat letter from the IRS which explains that if you continue the captive, they will audit you. You ignore the letter because you operate a legitimate business and have legitimate risk you want to insure for. You then enter an audit which takes a minimum of 18 months regardless of the legitimacy of the captive. In the meantime, you cannot get loans (because you are under audit), banks hate you and you cannot sleep for months. After a year the IRS explains that you can settle with them for a huge amount of back-taxes, penalties and interest or you can fight them and potentially win against them. Either way you pay millions to either the IRS or your attorney, accountants, expert witnesses, tax consultants, etc.. Even if you decide to fight the IRS and you win, you are not entitled to get your attorney's or costs of defending yourself back. THAT'S THE WHOLE GAME! EITHER WAY YOU LOSE! We were left feeling like a victim of both Oxford and the Government. Captive managers take little part in helping you defend yourself against the tax man. The IRS and states make it very clear they will no longer allow micro-captives regardless of legitimacy. Too many lawyers have screwed captives up for the rest of us. If you love paying huge captive management fees, the IRS, state governments and lawyers then start a micro-captive. This has been my experience and I wanted to share it. I wish Oxford did a better job explaining the significant risk micro-captives pose to businesses. Update: 9/2023 through our attorney network and IRS auditors, we now understand that Oxford may have provided their customer list to the IRS. The state of CA is also going after all businesses that took deductions for Micro-Captives. The gloves are off."
"Experts in the captive field"
"Mike is the man!"
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