127. 5 Ways To Reduce Taxes In Canada And Protect Your Wealth

August 09, 2022 00:47:41
127. 5 Ways To Reduce Taxes In Canada And Protect Your Wealth
Wealth On Main Street
127. 5 Ways To Reduce Taxes In Canada And Protect Your Wealth

Aug 09 2022 | 00:47:41

/

Hosted By

Richard Canfield Jayson Lowe

Show Notes

Wealth Without Bay Street EPISODE 127: Today’s episode features Henry Wong again. Henry is a professional CPA who also trains other CPA’s across Canada specializing in taxation and passing through the nationals exams. Today he uses the opportunity to help explain Canadian life insurance landmines that U.S. citizens can avoid.

Henry chanced upon the book “Becoming Your Own Banker” and began to piece together all his knowledge of life insurance and financial accounting and soon began to pursue the journey of becoming his own banker. He now trains others as an accountant in how to build their own personal capital pool and manage their taxation through IBC.

IN THIS EPISODE, YOU WILL LEARN:

0:00 Introduction

1:03 Separating Yourself From The Two Systems

4:54 How Much Tax Does An Average Canadian Family Pay

8:30 The Five D’s

10:04 Using Time To Your Advantage (Defer)

12:38 Misconception of the Lower Tax Bracket

16:19 Design of The Canadian Tax System (Design)

20:47 Defining Your Income (Define)

26:38 Dividing the Income (Divide)

35:38 The Disconnect (Disconnect)

42:15 Other Products Considered Income

Other Episodes

Episode

April 19, 2022 00:31:59
Episode Cover

111. How Is My Whole Life Policy Cash Value Protected In Canada? Assuris

Wealth Without Bay Street EPISODE 111: Today on Wealth Without Baystreet, Richard and Jayson discuss how your whole life insurance policy cash value can...

Listen

Episode

August 28, 2024 00:49:32
Episode Cover

234. Investment Banker Becomes Infinite Banker

Wealth Without Bay Street 234: Investment Banker Becomes Infinite Banker PRE-ORDER A COPY OF OUR NEW BOOK! Don’t Spread the Wealth: How to Leverage...

Listen

Episode 0

September 06, 2023 00:46:31
Episode Cover

183. Learn, Earn, and Build a Legacy with IBC

Wealth Without Bay Street 183: Learn, Earn, and Build a Legacy with IBC We absolutely admire working with individuals who approach life with respect,...

Listen