Episode 199: Buy. Borrow. Die. …Pay Zero in Tax?

In this episode, we ask: How do the .001% navigate their taxes legally? What about the ProPublica report? How do they legally pay a tiny fraction of their fortunes in taxes? What was your reaction to this news? As your income rises, do you pay more in taxes? Under current law, what is the highest...

In this episode, we ask:

How do the .001% navigate their taxes legally?
What about the ProPublica report?
How do they legally pay a tiny fraction of their fortunes in taxes?
What was your reaction to this news?
As your income rises, do you pay more in taxes?
Under current law, what is the highest tax bracket?
What do the ultra high net worth pay?
How is wealth different from income?
What will you pay in tax?
What about loans?
What about paying back loans?
What about collateral?
Do you have a pen and paper?
What about buying assets?
What about a home?
Does your house have an ATM attached?
When do you pay tax on an asset?
What about borrowing money?
Do you pay a tax when you borrow?
What are the tax advantages of debt?
What about interest?
What happens to wealth at death (when you die)?
What about tax on death benefits for life insurance?
What is the big divide?
What about the asset side?
What’s the caveat?
What happened in 2013?
What about buying with after tax dollars?
What about the step-up in basis?
What about the $1 salary?
What about Bank on Yourself®?
What is premium?
What is cash value?
What is death benefit?
What about buying premium?
What about borrowing cash value?
What about when you die, giving your death benefit to your beneficiary?
What about tax with life insurance?
What about strategies like bonus depreciation?
What about rental income?
What about not issuing dividends?
What about dividends in life insurance?
What is a refund of premium?
What about the option for purchasing PUAs with dividends?
Are you able to receive the dividend as a check?
When will tax be due?
What grows forever?
When do markets crash?
What about the generosity of a banker?
What if stocks go down?
What about living on stocks?
What about a margin call?
Could you come up with the money you need?
What about the cost of borrowing against the assets?
What about liquidating?
What about fixed income assets?
What about improvement of projections?
What happens if interest rates rise?
What about building up significant cash value?
What about income tax?
What about estate tax?
Who needs a trust?
Who needs an attorney?
What is the estate tax threshold under current law?
What reduces the death benefit?
What happens with unpaid policy loans?
Are death benefits taxable?
Are gains taxable?
What about an example?
What questions do you have?
What about beneficiaries?
What about teaching your children?
What about Mark’s mom?
Would you like to meet with Mark Willis, CFP® to discuss your specifics?