Ep. 82 - Taxes, 7702, and IBC Scam Accusations
Farming Without the Bank Podcast
Release Date: 02/19/2021
Ep. 269 - The Importance of Strategic Planning
Farming Without the Bank Podcast
Today we're addressing common concerns about committing funds to life insurance policies and the importance of understanding the long-term benefits. Using life insurance as a financial tool is like building a business or farming; we need to be patient to see the long-term gains. Audio Production by Podsworth Media -
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Ep. 268 - The Power of Owning a Whole-Life Policy
Farming Without the Bank Podcast
The owner has ALL the control and owns that asset. No one can ever change that; not even if you die before the insured. Audio Production by Podsworth Media -
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Ep. 267 - 5 Reasons IBC is Not a Money Market
Farming Without the Bank Podcast
Some miss the point of IBC being done through dividend paying whole life insurance policies, and they think a money market is the same. There are 5 big reasons why they are not even close to the same. Audio Production by Podsworth Media -
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Ep. 266 - Four Reasons I Don't Like LLCs for Farming
Farming Without the Bank Podcast
Here are the four things I run into when I see farms in LLCs. There are good reasons to have an LLC, but unless you do your setup and maintenance right, you will actually be hurting further generations. Audio Production by Podsworth Media -
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Ep. 265 - Who's Saving the Farm?
Farming Without the Bank Podcast
We have far too many current farm owners who are in debt, and the next generation is trying desperately to save the farm by putting themselves at risk. This has to stop! Audio Production by Podsworth Media -
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Ep. 264 - When to Quit Your Day Job
Farming Without the Bank Podcast
Shane Anderson talked to us about how he made the decision to quit working off the farm and farm full-time. Tune in! We have solid advice about how to do it. Audio Production by Podsworth Media -
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Ep. 263 - Stay Openminded
Farming Without the Bank Podcast
So many people, ag industry included, want to be quick to make the judgment that, "people don't understand us." Let me encourage you to stay openminded, look at both sides of the story, and teach and communicate well with people instead of fighting and being short. Audio Production by Podsworth Media -
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Ep. 262 - Are You Prepared?
Farming Without the Bank Podcast
With commodity prices the way they are now, so many folks are scrambling, yet we have had some decent years in the past. Are you preparing in the good times for the bad times. Are you really looking at your numbers to make sure you are making a profit? Audio Production by Podsworth Media -
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Ep. 261 - You'd Find a the Money for Land and Equipment
Farming Without the Bank Podcast
If the land next door became available, you'd find the money for the land payment... yet many wonder where the money will come from for their IBC policy. Let's talk about it. Audio Production by Podsworth Media -
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Ep. 260 - Financial Freedom for Farmers (MJ on the Farm4Profit Podcast)
Farming Without the Bank Podcast
Join hosts Corey and Tanner as they welcome Mary Jo to the Farm4Profit podcast to dive into the world of financial independence for farmers. In this episode, Mary Jo explains the Infinite Banking Concept and how it can be a game-changer for farmers looking to gain financial control, reduce dependency on traditional banks, and build generational wealth. Learn how policies, cash value, and strategic borrowing can revolutionize your approach to farm financing. Whether you're a seasoned farmer or new to the field, this episode offers valuable insights into sustainable financial practices. Audio...
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!