USA Citizens In Canada Life Insurance Landmines
FREE report 7 Simple Steps to Becoming Your Own Banker - http://7steps.ca/
Wealth Without Bay Street EPISODE 124: Featured on today’s episode is Henry Wong, a professional CPA who also trains other CPA’s across Canada specializing in taxation and passing through the nationals exams. Today Henry 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
3:47 Insurance is Tied to Your Citizenship and Residency
8:05 Canada vs. U.S. Exempt Rules
10:18 Getting Canadian Insurance as a U.S. Citizen
12:29 Estate Tax
17:05 American vs. Canadian Tax System
21:08 U.S. Exempt Test
28:51 Identifying the Problem and Finding the Solution
30:14 Having a Canadian Citizen Beneficiary
31:16 Imposing Excise Tax
34:42 Tips For U.S. Citizens
40:10 Irrevocable Beneficiary
46:09 Cutting Ties With Canada
🎙️ WEALTH WITHOUT BAY STREET LINKS:
Learn how Canadian are Implementing Infinite Banking for Free Here: https://wealthwithoutbaystreet.com/masterclass
Podcast Website: https://wealthwithoutbaystreet.com/
Follow us on Facebook: https://wealthwithoutbaystreet.com/fb
Subscribe to our Youtube Channel: https://wealthwithoutbaystreet.com/yt
Book a 15-minute call: https://wealthwithoutbaystreet.com/15mincall
Watch our Tribute To The Man Who Created Infinite Banking R. Nelson Nash here:
https://wealthwithoutbaystreet.com/dayofnelson
🤝 Join Our Community! https://wealthwithoutbaystreet.com/community
📚 IBC RECOMMENDED BOOKS
https://wealthwithoutbaystreet.com/books
📽️ WATCH THE DOCUMENTARY
Documentary Film This is Nelson Nash: https://www.ascendantfinancial.ca/nelson-nash-film/
💸 Financial Advisor? Learn about the Infinite Banking Concept here: Nelson Nash Institute Practitioner Program: https://infinitebanking.org/practitioners-program/ref/6/
EVA - Economic Value Add The Real Key To Creating Wealth Article: https://infinitebanking.org/the-real-key-to-creating-wealth/ref/6/
#WWBS #JaysonLowe #RichardCanfield #theinfinitebankingconcept #wealthwithoutbaystreet #HenryWong
-
41:31
WealthWithoutBayStreet
2 years agoCorporate Tax Landmines In Canada with Henry Wong
21 -
41:13
WealthWithoutBayStreet
1 year agoThe Wrong Way to Structure Whole Life Insurance in Canada
18 -
1:56
The Last Capitalist in Chicago
1 year ago $0.03 earnedWhole Life Insurance is a Scam
1811 -
21:35
The And Asset
8 months ago $0.02 earnedI Used Life Insurance To Invest In Real Estate | The Mind-Blowing Results
21 -
55:52
The Wealthy Idiots
1 year agoLife Insurance...The Trillion Dollar Scam?
41 -
2:00:06
We The People - Constitutional Conventions
1 year agoOh Canada - Our Bought & Sold Out Land
1.42K4 -
20:18
TheFinanceGeek
4 years agoWhat you Need To Know About Life Insurance Agents
1 -
11:16
ProgressiveTruthSeekers
1 year agoAmericans and Canadians are Dying Earlier
2201 -
9:37
Millennial's Choice
1 year agoExperts Discuss the Future of Canadian Real Estate in 2023
26 -
7:37
MikeMartins
4 months agoToronto Liar Mortgages surfaces, money Laundering from china Destroying Canadian Middle class
96