Insurance agencies
Books and taxes for group benefits brokers.
Employer health, dental, vision, and life plans placed by employee count, a per-employee-per-month fee alongside carrier commission, a renewal tied to each client's own plan year, and HR software clients expect you to know. Gus sorts all of it, an accountant checks every transaction, and you get one number a month.
- From $197 a month
- An accountant on every transaction
- Cancel whenever
January came in at $16,700. Most of your clients renew on a calendar plan year, so this month carried a wave of renewal commission I kept separate from your ongoing PEPM fees.
- Carrier renewal commissionRenewal commission
- Employer PEPM fee, Q1PEPM administration fees
- Benefits enrollment system feeEnrollment software
- Producer split payout, benefits teamProducer splits
- Broker E&O renewalLicensing and E&O
Why your books are different
A group benefits broker's books go wrong in the same four places.
A generalist bookkeeper sees monthly deposits and calls it steady income. Your income is really two different things, carrier commission on the plans you place and a per-employee-per-month fee some clients pay directly, and every client renews on its own plan year, not a single calendar. When the books do not separate that, you cannot see which clients are actually driving the business.
-
1
PEPM fees and carrier commission get mixed together
A client paying a per-employee-per-month administration fee directly is a completely different kind of income than commission a carrier pays on the plans placed, and blended together you lose sight of which clients pay which way.
What we doKeeps PEPM fees and carrier commission on separate lines, so both sides of your income are visible by client. -
2
Renewal income lands on each client's own calendar
One employer group renews every January, another every July, and a third on its anniversary date, so renewal commission arrives all year long instead of in one predictable season.
What we doTracks renewal commission against each client's plan year, so a wave of income in any given month makes sense. -
3
Producer splits blur the agency's real revenue
A carrier pays the full commission to the agency, which then pays a producer their negotiated share, and counted as one number it looks like the agency earned it all before the split ever goes out.
What we doKeeps the full commission and each producer's split on separate lines, so the agency's real take is clear. -
4
Enrollment software costs get buried in supplies
Benefits enrollment and administration software used to manage open enrollment for employer clients is a real, recurring cost, and filed under generic supplies it never shows up as what it actually is.
What we doKeeps enrollment software on its own line, so it is visible when planning the next plan year's costs.
Your categories
The categories Gus keeps for a group benefits broker.
Set up once for how each client pays you and what running the agency costs. You never pick a category. He does, and an accountant checks it.
Money in
- New group commissionCarrier commission paid when a new employer group is placed.
- Renewal commissionCommission on groups renewing, tracked against each client's own plan year.
- PEPM administration feesPer-employee-per-month fees some employer clients pay directly.
- COBRA administration referral feesFees for referring clients to a COBRA administration provider.
Money out
- Producer splitsThe share of commission owed to the producer who placed the group.
- Enrollment softwareSystems used to run open enrollment for employer clients.
- Licensing and E&OState license, appointment, and errors and omissions coverage.
- Marketing and client eventsOpen enrollment support materials and client education events.
- Office and account managementStaff who service renewals and client questions through the year.
What we watch for you
- PEPM versus commission share
How much of your income depends on direct client fees versus carrier commission.
- Renewal timing by client
Which employer groups are up for renewal in a given quarter, so income timing makes sense.
- Producer payout share
What producers keep against total commission, so the agency's real take is clear.
- The set-aside
What you will owe, tracked every month, so April is a number you already knew.
Ask Gus
Things group benefits brokers 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.
No. I track renewal commission against each client's actual plan year, so a wave in January reads as expected, not a fluke that disappears in February.
Yes, they sit on separate lines. That way you can see how much of your income is direct client fees versus what carriers pay you.
If she is paid outside payroll and clears $2,000 for the year, yes, by January 31. I keep that running total so it is ready.
The tax side
The tax side of a group benefits brokerage.
Most of what goes wrong here is what kind of income something is, a PEPM fee mixed with commission, a producer split counted twice, a set-aside built on one client's renewal wave.
What your return has to get right
Your accountant signs it, so it gets done right the first time.
- Producer 1099sAny producer paid $2,000 or more in 2026 outside payroll on a benefits placement gets a 1099-NEC by January 31, and Gus tracks the running total as each client's renewal comes in.
- Self-employment tax and estimatesOwner-producers who earn commission or PEPM fees rather than a W-2 wage pay self-employment tax at 15.3 percent up to the $184,500 wage base, usually in quarterly estimates on April 15, June 15, September 15, and January 15.
- The pass-through deductionMost group benefits agency owners can take up to 20 percent of qualified business income off their taxable income, with the deduction narrowing above $201,750 single or $403,500 joint, once PEPM fees and commission are both counted.
- Software and equipment write-offsEnrollment software and office equipment can usually be expensed the year you buy them, with bonus depreciation at 100 percent for property acquired after January 19, 2025.
Deductions group benefits brokers miss
Your bookkeeper knows what to look for in your statements. You never have to.
- Errors and omissions insurance
- State license and appointment fees
- Benefits enrollment software
- Continuing education courses
- Client education materials
- Mileage for client meetings
- Trade association dues
- Office rent or home office share
- Account management payroll
- Background checks for new producers
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
A group benefits broker's year, kept every month.
Every client renews on its own schedule. Gus keeps the books ready no matter whose plan year it is. Every month in between, your bookkeeper closes the books and speaks up the moment something looks off.
- January
Plan renewals
Producer 1099s go out, last year's return gets started, and you get a monthly set-aside built around each client's own renewal calendar.
- April
Return finalized
Your return is filed and signed. No surprise bill, because the set-aside kept pace with every client's own plan year renewal all along.
- July
Plan-year check
Where you stand, what you will owe, and which clients have mid-year plan renewals coming up.
- October
Before Q4 renewals
Open enrollment for calendar-year plans often runs in the fall, and Gus looks at software or equipment 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 group benefits brokers. 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 group benefits brokers ask first.
Can Gus track renewal commission against each client's own plan year?
Yes. Renewal timing is tracked by client, so a wave of income in any given month makes sense instead of looking random.
Some of my clients pay a PEPM fee and others don't. Can Gus tell those apart?
Yes. PEPM fees and carrier commission are kept on separate lines, so you can see how much of your income comes from each source.
My producers are paid on a split. Does that complicate the books?
No. The full commission and each producer's split stay on their own lines, so you can see the agency's actual take before any payout goes out the door.
Does Gus handle COBRA administration for my clients?
No, that is above what the books cover. Gus tracks any referral fee you earn for pointing clients to a COBRA administrator, but does not run the administration itself.
Can Gus keep our books straight across dozens of employer clients on different renewal dates?
Yes. Each client's commission and renewal timing is tracked on its own, so the mix of dates does not turn into a mess.
Our books mix agency revenue with a few clients' PEPM invoices in one account. Can Gus untangle that?
Yes. Send the statements you have. Gus sorts commission from PEPM fees, and most owners know where they stand inside a week.
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