For Business Owners
Family Banking for Business Owners
What would be the ‘holy grail’ for a business owner? If you could put money away and get a tax deduction for doing so, let it grow tax deferred, and pull it out tax free, THAT would be the ultimate. There are ways this can be done.
Only 2 of the 3 scenarios are available to the average American. Tax deduction, tax deferral or tax free distribution are the scenarios that we are discussing, and one of the things we do at The Family Banking Plan is teach the average American how to legally, morally and ethically create a situation where at least 2 of those 3 tax advantages works for them.
BANK ON YOURSELF AS A BUSINESS
We all love the idea of being our own bank. It only makes sense that if I could pay interest and principle BACK to myself, instead of paying it to some financial institution, I would be far better off.
In the business sense, owning your own bank provides options that most business owners haven’t ever dreamed of. Business owners nationwide have used the Infinite Banking Concept to purchase everything from buildings, fleets of vehicles, office equipment and other businesses. When Nelson Nash wrote the book on becoming your own banker, he used some excellent examples to show business owners how to use the banking concept.
Mark is a successful dentist in Wyoming. He runs significant cash through his business each month. When Mark was shown the financial certainty that comes along with a Family Banking Plan, he implemented it into his business. Now, a very large portion of his monthly cash flow runs ‘through’ his infinite banking plan, and he is seeing enormous benefits from it.
Mark has learned that by using the banking concept in his business he can get each dollar in his life to actually do more than one thing. He feels completely financially empowered because he is in control and the money he is using is free from taxes.
YOUR OWN BANK: TAX FREE
Through the use of dividend paying whole life insurance, the banking concept creates a legal flow of tax-free money. We all know that if you borrow money from a bank, you pay no taxes on that loan. Well, the same thing applies to those who understand and use the infinite banking system.
By borrowing the money from a dividend paying life insurance company, while still allowing your own money to stay inside the banking policy and grow and get dividends, business owners get the best of all words. Once a business owner understands and begins to implement his banking plan, he never wants to go back to antiquated methods of financing.