Did you know there’s a way to recapture the money you spend on taxes? It’s called infinite banking, and you can use it to become your own bank. I Own My Bank has a guide that will show you how.
I Own My Bank's guide explains the infinite banking concept, which uses the accrued equity of whole life insurance policies as dividend-paying assets. You can use such policies to generate liquid cash value that you can use for making large purchases, saving money, and reducing your taxes.
Read the guide at https://www.iownmybank.com/blog/b/taxes
From the guide, you'll learn about a centuries-old strategy that has been used by famous entrepreneurs like Walt Disney, J.C. Penney, and Ray Kroc to grow and protect the wealth they created through their businesses by reducing their tax liability.
The infinite banking concept was established by the late economist R. Nelson Nash after studying the spending habits of American families. He found that 20 cents of every dollar spent went toward car purchases and maintenance. Realizing such costs add up over time, especially with traditional financing methods, Nash wanted to find a better financing option.
Nash called that better option infinite banking, which leverages the equity-accrual capabilities of whole life insurance policies. By making regular payments into these policies, you can accumulate equity that you can borrow against for major expenses like tuition or buying a new car.
Because this equity accrues on a tax-free basis, you won't have to pay taxes on accumulated interest and dividends within your policy as long as it remains in effect. If you withdraw a loan from your whole life insurance policy’s cash value, it won't be considered a taxable event because you're technically borrowing from the life insurance company.
However, you may have to pay taxes on other uses of your whole life insurance policy, like withdrawals from, or distributions of, your policy’s cash value. If you're going to use it in these ways, you should work with an infinite banking practitioner or a tax professional to ensure you're using your policy in the most tax-efficient way.
The infinite banking practitioners at I Own My Bank can provide you with such assistance. “They’re an awesome company,” one happy client said. “Their infinite banking concept allows you to plan for financial freedom. They have an excellent staff that’s always willing to help answer any questions that may arise.”
Don't let all your income get eaten up by taxes! With infinite banking, you can reduce your tax liabilities and discover how to stop working for your money and start making your money work for you.
Check it out today at https://www.iownmybank.com/blog/b/taxes
