Ep. 82 - Taxes, 7702, and IBC Scam Accusations
Farming Without the Bank Podcast
Release Date: 02/19/2021
Farming Without the Bank Podcast
How much you pay is really set on how you are thinking. Rethink your thinking. Audio Production by Podsworth Media -
info_outline Ep. 242 - 5 Myths About the Infinite Banking ConceptFarming Without the Bank Podcast
Let's bust some myths and let the record be set straight. The five myths we talk about in this episode are: 1. You borrow your money, 2. Premium is post-tax, 3. You collect the interest on loans, 4. You can use Universal Life products for IBC, and 5. You don't have to repay loans. Audio Production by Podsworth Media -
info_outline Ep. 241 - 5 Things to Scrub from Your LanguageFarming Without the Bank Podcast
People often use incorrect terminology when they talk about their life insurance policies and IBC. So let's go over the real meaning of the terms: Pull money, Take money, Tax-Free, Tax-Free Retirement, and IBC policy. Audio Production by Podsworth Media -
info_outline Ep. 240 - Remember, It's Liquid!Farming Without the Bank Podcast
It's hard to remember that our cash value is liquid and we get to use it. We have been programmed to think we will never see that money again. Remember, when you pay premium, a portion of that premium is available to you right away. You are not giving up access to every dollar you put in. Audio Production by Podsworth Media -
info_outline Ep. 239 - Build It InFarming Without the Bank Podcast
If you are questioning how you are going to pay for the new piece of equipment, more cattle, or even a life insurance premium, then build it into your accounting. Successful operations have the costs built in; they don't just hope and pray they will have enough. Many ask how they can get away from the bank. If you want to do that, then build your life insurance premium into your expenses. It's a cost of doing business. Audio Production by Podsworth Media -
info_outline Ep. 238 - First Half or Second Half?Farming Without the Bank Podcast
The entire book is important; are you reading it all, or just one part of it? IBC is the first half, and life insurance is the second half, so be sure to read and re-read the entire book! Audio Production by Podsworth Media -
info_outline Ep. 237 - Book or Beer?Farming Without the Bank Podcast
Where would you rather put your money? So many are not thinking correctly. Rethink your thinking! Audio Production by Podsworth Media -
info_outline Ep. 236 - Two Thousand FarmersFarming Without the Bank Podcast
After talking to over two thousand farmers over the years, I may know a thing or two, and I definitely have an opinion on a thing or two. Audio Production by Podsworth Media -
info_outline Ep. 235 - It's So Hard, You Don't UnderstandFarming Without the Bank Podcast
It is all simple when you quit making it so hard. Unfortunately, some people are stuck thinking small and have the mindset that everything is just too hard. Think bigger and ask for help solving the problems! Today I talk about fixing the mindset that is holding you back. Audio Production by Podsworth Media -
info_outline Ep. 234 - Blacksheep Summit RecapFarming Without the Bank Podcast
Our client-only Blacksheep Summit was last week, and we had a fantastic time. Let me tell you about it! Audio Production by Podsworth Media -
info_outlineIn this episode, I address what you can and can't write off on your taxes by using the policy, tax code 7702 changes, and how that will affect the policies going forward. I also address the video done by a certain talking head (you probably know who) regarding IBC being a scam. Enjoy!