Advisors, lenders & money services
Books and taxes for annuity specialists.
Upfront commissions from a dozen carriers, trail payments that dribble in for years, and the occasional chargeback when a client surrenders early. Your own bookkeeper sorts it, an accountant checks every transaction, one number a month.
- From $197 a month
- An accountant on every transaction
- Cancel whenever
May made $11,500. A chargeback landed from a policy surrendered in its free-look period, so I netted it against that carrier's original commission, not this month's sales.
- Carrier commission, AtheneUpfront commissions
- Trail commission, AllianzTrail commissions
- Chargeback, surrendered policyChargebacks
- Illustration softwareSales software
- State insurance license renewalLicensing
Why your books are different
An annuity practice's books go wrong in a few particular spots.
A generalist bookkeeper sees a commission check and calls it earned. Your income comes from a dozen carriers on different pay cycles, part of it can get clawed back months later, and the trail payments that follow a sale need to stay visible for years.
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1
A chargeback shows up as a mystery deduction
When a client surrenders an annuity inside the carrier's chargeback period, the carrier takes back part of the commission it already paid, sometimes a year after the original sale, and if it is not tied to that specific policy, it just looks like an unexplained loss.
What we doTies every chargeback back to the original policy and commission, so it reads as what it is, a reversal, not a random cost. -
2
Trail commissions from years-old policies blend into one blur
A policy sold three years ago can still pay a small trail commission every year, and when a dozen years of trails from different carriers all land in one lump category, there is no way to see which past sales are still earning.
What we doKeeps trail commissions labeled by carrier and separate from new upfront commissions, so the steady renewal base stays visible. -
3
Carrier pay cycles do not match when the sale actually closed
A policy issued in March might not pay its commission until April or May depending on the carrier's processing schedule, so the month a sale closes and the month it pays can be entirely different.
What we doNotes which month a commission was actually earned in, so a slow-paying carrier does not make a good sales month look thin. -
4
Marketing costs and closed sales never get compared
Postcard mailers, seminar invitations, and lead lists are a real and recurring cost of finding annuity clients, and when they sit in a general marketing line with no link to which leads actually closed, there is no way to know what is working.
What we doKeeps marketing costs in their own category so they can be weighed against the sales that come out of them.
Your categories
The categories Gus keeps for an annuity sales practice.
Set up once for how carriers pay and what the practice spends to find clients. You never pick a category. He does, and an accountant checks it.
Money in
- Upfront commissionsFirst-year commissions paid by the carrier at issue, tracked by carrier.
- Trail commissionsOngoing renewal commissions from policies sold in past years.
- Production bonusesExtra payments from a carrier for hitting a sales tier.
- Referral incomeFees received for sending a client to another licensed professional.
Money out
- ChargebacksCommission clawed back when a policy is surrendered inside the chargeback period.
- Sales and illustration softwareTools used to run annuity illustrations and comparisons for clients.
- LicensingState insurance license renewals across every state the practice sells in.
- InsuranceErrors and omissions coverage that carries across every carrier appointment.
- MarketingPostcard mailers, lead lists, and workshop invitations.
- Contract laborA licensed assistant or appointment setter paid outside payroll.
What we watch for you
- Chargeback rate
How much commission gets clawed back against what was paid, a sign of policy quality.
- Trail income base
What older policies still pay every year, the steady floor under new sales.
- Cost per closed sale
What marketing actually costs against the sales that come from it.
- The set-aside
What you will owe on commission income, tracked before chargebacks complicate April.
Ask Gus
Things annuity specialists ask Gus.
Text him like you would text anybody. He answers in plain English, and when a question is above his pay grade, an accountant looks and gets back to you.
Straight to a chargebacks line, tied to that policy. It will not look like a random loss, and it will not bury your real commission income.
Yes. Each carrier's trails stay in their own line, so you can see how much of your income is steady renewal versus new sales.
Not for the books. Every carrier's commission gets tracked the same way. Whether one carrier's pay structure changes what you owe is a question for the accountant.
The tax side
The tax side of an annuity sales practice.
Most of what matters here is keeping commission income and chargebacks straight across many carriers, since the tax rules underneath are mostly the same as any commission-based practice.
What your return has to get right
Your accountant signs it, so it gets done right the first time.
- Chargebacks reduce taxable commission incomeA commission clawed back by a carrier generally reduces the income it was originally counted as, rather than becoming a separate deduction. Gus tracks each one against its original policy so the accountant can apply it correctly.
- Net commission profit drives the S corp decisionOnce chargebacks and trails are netted out, a producer's real profit is taxed at 15.3 percent for self-employment tax, up to the $184,500 wage base for 2026, which is where an S corp election, due by March 15, can start to matter.
- A big renewal season can shrink the pass-through deductionA strong year of upfront commissions can push taxable income high enough that the 20 percent pass-through deduction starts to phase out for a commission-based practice like this one.
- 1099s for a licensed assistant or appointment setterA licensed assistant or appointment setter paid $2,000 or more in 2026 who is not on payroll gets a 1099-NEC by January 31.
Deductions annuity specialists miss
Your bookkeeper knows what to look for in your statements. You never have to.
- State insurance license renewals
- Illustration software subscriptions
- Errors and omissions insurance
- Postcard mailers and lead lists
- Workshop venue costs
- Continuing education courses
- Home office costs
- Mileage to client meetings
- Professional association dues
- Laptop and presentation equipment
- Client portal software
- Phone and data plan
General information about 2026 federal rules, not advice for your business. Your accountant looks at your actual numbers before anything gets filed.
All year, not just April
An annuity practice's year, kept every month.
Carriers pay on their own schedules and chargebacks can land anytime a policy surrenders. Your team keeps the practice's own books current through all of it. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.
- January
Year planned
Commission summaries from every carrier get reconciled, 1099s go out for anyone paid outside payroll, and last year's return gets started.
- April
Filed. Done.
Your return is filed and signed, with commissions and chargebacks reconciled across every carrier since January, so nothing catches you off guard.
- July
Halfway check
Where the practice stands, what it will owe, and whether chargebacks this year are running higher or lower than usual.
- October
Before year end
A look at licensing renewals due in the new year and any equipment or software worth buying before December.
What you get
What you pay depends on what your business needs, and it does not move after that, busy season or slow. No hourly bills, no surprise invoices, no setup fee.
Book a call- Monthly bookkeeping
Every transaction sorted into categories set up for annuity specialists. You never categorize a thing.
- An accountant checks every transaction
Real review, every month, before your books close. Not a spot check.
- Your business tax return, filed
Prepared, reviewed, and signed by that same accountant every year.
- The monthly number
What you made, what you spent, what to set aside for taxes.
- Your own bookkeeper
A real person assigned to your business, in the app whenever you need them. No hold music.
- On your books all year
Every month, not just in April. Your team speaks up whenever something is worth your attention.
- Cancel any time
No contract. No cancellation call. Your books are yours.
Straight answers
Questions annuity specialists ask first.
A carrier clawed back part of my commission after a client surrendered. How does that get handled?
Gus ties the chargeback back to the original policy and nets it against that commission, so it reads as a reversal, not a random loss on your books.
I am appointed with six different carriers. Can Gus track commissions from all of them?
Yes. Each carrier's upfront and trail commissions get tracked in their own line, so you can see which relationships are actually producing.
Does Gus recommend which annuity products to sell?
No. Gus and your bookkeeper only keep the practice's own books, what it makes and spends. Product selection and client recommendations stay entirely with you.
My trail commissions come from policies I sold years ago. Do those still need tracking now?
Yes, and Gus keeps them visible every year, so you always know how much of your income is steady renewal versus new business.
I spend a good amount on postcard mailers and workshops. Is that worth tracking on its own?
Yes. Marketing costs get their own category, so once you tell Gus which leads closed, you can see what each channel actually costs to produce a sale.
My commission statements from different carriers never match my bank deposits cleanly. Can Gus untangle that?
Yes. Send what you have from each carrier and your bank statements, and Gus sorts out which deposit belongs to which policy.
Is a real accountant checking my books?
Yes. You get your own bookkeeper, Gus does the first pass on every transaction, and an accountant checks every one before your month closes. That same accountant prepares, signs, and files your business return. Goatkeeper is not a CPA firm, and we never pretend a person looked when they did not.
What does it cost, and can I cancel?
It starts at $197 a month, depending on what your business needs. No setup fee, no hourly bills, no contract. Cancel any time from the app, and your books go with you.
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What makes a bookkeeper worth paying for Every business we keep books for
Book a call
Pick a time. That's the whole signup.
Fifteen minutes with a real person on our team. They look at where your books are, tell you straight what it takes to get caught up, and get you set up on the spot if it fits.
- $197 a month to start
- An accountant on every transaction
- Cancel whenever