Financial Adviser; Complex Tax Planning; Captive Insurance Companies

F. Hale Stewart received his JD from the South Texas School of Law in 2003 and earned an LL.M. in international and domestic taxation from the Thomas Jefferson School of Law where he graduated magna cum laude.  Mr. Stewart has provided continuing education for the ... more


Industrial Production Rebounds; Another Message Of Slowdown, No Recession
Production as a whole increased 0.6%, and last month’s report was revised upward by +0.1%. The manufacturing component also increased, by 0.5%.
Initial Claims Not At Cautionary Levels Yet
Initial jobless claims are an important short leading indicator, typically turning up 3-9 months before a recession.
December JOLTS Report: Mixed But With Strong Positive Revisions
The JOLTS report on labor is noteworthy and helpful because it breaks down the jobs market into a more granular look at hiring, firing, and voluntary quits.
The Consumer Nowcast And The Short-Term Forecast
Although it is just one data point of many, that the Empire State Manufacturing Index’s new orders measure fell to an 18 month low (although still positive at +4) at very least continues the trend of a big slowdown in the industrial sector.
Real Hourly And Aggregate Wage Growth In 2018: Very Good, Thanks To Declining Gas Prices
Now that December inflation has been reported as down -0.1%, with YoY consumer inflation a paltry +1.9%, let's update what that means for real wage growth in 2018.
November JOLTS Report Shows Surprising (Relative) Weakness
The JOLTS report on labor is noteworthy and helpful because it breaks down the jobs market into a more granular look at hiring, firing, and voluntary quits.


AMBA Ambarella Inc.
ANGI Angie's List Inc.
BBRY (now BB) BlackBerry Ltd
BONT The Bon - Ton Stores Inc.
CAT Caterpillar Inc.
CLFD Clearfield Inc.
CVEO Civeo Corporation
CVX Chevron Corporation
EWQ iShares MSCI France Index Fund
FDO Family Dollar Stores Inc.
FXI iShares China Large-Cap
INTC Intel Corporation
IYR iShares Dow Jones U.S. Real Estate Index Fund
JNJ Johnson & Johnson
KHC Kraft Heinz Company, The
LNKD LinkedIn Corporation
MSFT Microsoft Corporation
MUB iShares S&P National Municipal Bond Fund
OIL iPath B S&P GSCI Crude Oil TR ETN
PM Philip Morris International Inc.
SBUX Starbucks Corporation
TGT Target Corporation
UUP PowerShares DB US Dollar Index Bullish Fund
WEAT Teucrium Wheat Fund
XLI Industrials Select Sector SPDR
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Work Experience

Tax Attorney; Captive Insurance Expert
The Law Offices of Hale Stewart
August 2007 - Present (12 years 4 months)

Hale Stewart is a tax attorney with both a domestic and international specialty. He is also author of the book U.S. Captive Insurance Law.

Vice President
Vining Sparks
1999 - 2001 (2 years 9 months)

Bond broker with mutual funds and insurance companies for clients.


Thomas Jefferson School of Law
LLM, International and Domestic Taxation
2007 / 2008
Activities and Societies: Magna Cum Laude Distinguished Honor Roll
South Texas College of Law
JD, Law
2001 / 2004
Associate Editor, Corporate Counsel Review Activities and Societies: Associate Editor, Corporate Counsel Review
South Texas College of Law
JD, Law
2001 / 2003
Activities and Societies: Corporate Counsel Review


U.S. Captive Insurance Law
Hale Stewart

This is the first book on captive insurance which thoroughly examines the relevant issues associated with starting a captive insurance company. Part I begins with a description of the companies most likely to benefit from a captive program. This is followed by a detailed outline and explanation of the formation process and ends with an overview of the tax issues encountered by a property and casualty insurance company.

Part II presents the first in-depth historical analysis of the entire history of U.S. captive insurance case law. It begins with the reserve cases of the early 20th century and is followed by the flood plane cases of the 1950s, the I.R.S. victories of the 1980s, the taxpayer victories of the 1990s and the I.R.S.’ safe harbor Revenue Rulings of the early 2000s.

With over 950 footnotes and 40 sources, this is the most complete treatment of captive insurance to date.