Episode 446: Tax Efficient Ways to Buy Company Cars via Bank on Yourself®

In this episode, we ask:

• What do business owners ask Mark all of the time?
• Is this legal?
• Are there benefits to doing this?
• Who is in a strong position?
• What can add super-powerful leverage here?
• What about layering in a shareholder loan from your policy?
• What about accelerated depreciation on a heavy SUV or 6000+ lb. vehicle?
• What about a tax-free policy loan?
• What about deductible interest for the business?
• What about a cash flow play?
• What is the GVWR?
• What does Section 179 of the tax code say?
• What about layering on bonus depreciation?
• What about the standard maker’s depreciation?
• What can you deduct?
• What’s your tax bracket?
• What ideas can you bring to your accountant?
• What are the tax advantages?
• What about the banking portion?
• How can you buy a car with a personally owned life insurance policy?
• What are the steps?
• What are the benefits from borrowing from your policy?
• What’s not deductible?
• What are the loan terms?
• What about flexibility in loan terms?
• Can you lend money to your business?
• Do you have a formal promissory note?
• What is the clear repayment schedule?
• What about the interest?
• Are you taxed out the wazoo?
• What is especially powerful in an S-Corporation?
• What about cash flow preservation?
• How about contingency capital?
• What about asset protection?
• What is the arbitrage on policy loans?
• What continues to grow?
• What are the estate planning upsides?
• What are the risks?
• Did you properly keep required documentation?
• Did you speak with your CPA?
• Who is this for?
• Are you paid a reasonable compensation?
• Would you like to meet with Mark or one of Mark’s associates?
• Who agrees?
• What are the takeaways?
• Would you like to join our FREE! Not Your Average Financial Community?