BUSINESS OWNERS

Business owners are hugely underserved in the financial landscape. In the early years of the business, money is lean. Every penny is used to keep the business afloat. Saving habits need to start as soon as possible but are sometimes pushed aside because the business is hungry and must be fed. Often small business owners feed this hunger by acquiring substantial debt.
They need new employees to grow the business, more marketing dollars to sell their product or service, and the list goes on and on.
Infinite Banking can be a source of funds for these expenditures and you can actually capture excess interest and all principal that you are paying other institutions; and at the same time, create a retirement plan for yourself that is Tax Free. From petty cash to payroll, funds are continuously moving through Infinite Banking. Whenever a business owner utilizes the advantage, their reliance on financial companies for working capital quickly diminishes. With time, the business can produce 100% of its financing needs from an Infinite Banking Plan.
Plus there is an additional benefit: The Canada Revenue Agency allows interest to be deducted on legitimate business loans, which you’ll want to finance from your banking plan!
You can think of Infinite Banking as a private line of credit, but you don’t have to qualify once your systems is established. And, you don’t lose the interest you pay… You can recover it through the banking process with significant tax advantages.
Since businesses know they need liquidity, surplus cash tends to sit in a bank account, earning little if anything and being taxed at a high rate. Business owners can’t afford to risk putting that cash into the market, in case of a market crash or a need for liquidity.
Now imagine what the characteristics of the perfect account for this money would need to have:
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Safety

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Liquidity

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Tax Free

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Can Not Lose

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No Volatility

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Guaranteed

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Competitive Return

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Unstructured Loans

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Creditor Protected

Infinite Banking is the ideal place for a business to store its cash. It is the perfect place for businesses to start acting like their own bank.
Among all the benefits of Infinite Banking once the money is in the policy the business owner can then use it for various things like:
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Purchase Large Equipment

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Company Supplies

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Employee Retirement Programs

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Employee Health and Benefit Plans

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Finance Payroll

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Business Conferences

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Company Cars

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Your Building Lease

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Corporate Owned Real Estate

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Travel Expenses

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Business Loans

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Acquisitions and Mergers

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Key Employee Plans

Business owners need life insurance to protect their company debt and to provide for their own families. Therefore, owning a life insurance policy isn’t just an extra, but is something that needs to be a regular part of all business owners’ portfolios. The business itself generally provides a number of write-offs throughout the accumulation phase of business owners’ lives, so desire for more tax write-offs is frequently lessened. On the other hand, as soon as the business owner retires, they usually find themselves with little, if any, tax deductions because the business has been sold. Maximizing your Infinite Bank account provides a cash flow of tax-free income!

Since life insurance is not regarded as a tax-qualified plan based on the CRA, there is no requirement for the business owner to fund the same program for his or her staff. There is no limit regarding the amount of money that may be saved inside a life insurance contract, other than what the contract itself specifies.

Given that business revenue may change significantly through the years, the versatility of Infinite Banking accounts can be a huge advantage. It’s easy and simple. There are no separate documents or tax forms required. As a matter of fact, the government doesn’t even know that an individual Infinite Banking account exists. There is absolutely no government reporting requirement.

Infinite Banking offers instant liquidity to the owner’s beneficiaries or estate if the owner decides to keep the business until his or her death.

So what are you waiting for? Schedule a call today to learn more about how to get started building your Infinite Banking system for Business Owners.

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