It doesn’t matter how much you make, one dollar that you don’t give to the government in the form of taxes is one dollar that adds to your bottom-line.
One of the last corporate tax tool available
Your money will grow inside of your policy without any tax, and if you leverage it properly, you’ll have access to a tax-free retirement income.
Regardless of your age, there are several strategies that will allow you to either shelter the money you’d like to invest, or reduce the amount of tax you need to pay to access that money. Setting yourself properly and ensuring that you write off as many expenses than you can while staying on the legal side could be the difference between have a good retirement and having a great retirement. Surrounding yourself with the right team of advisors will help ensure that you get the most efficiency on your tax planning.
Life insurance is one of the very few tools left to protect and grow your wealth without paying any taxes. While the money that you’ll use to fund the policy will have been taxed (ideally at a corporate level if you’re incorporated), once you’ve deposited it inside a policy, you will not be charged any additional tax on the growth or the use (when used as collateral) of that money.