Mike Check 1,2,1,2: Recent Episodes
Michael Dutra
We might talk about sophisticated tax strategies, we might talk about aliens.
Either way, I hope your coffee is hot.
When was the last time you completed an estate tax analysis?Taxes owed by your estate can arise from a range of assets, including real estate, stocks, corporations, private investments, RRSPs, RRIFs, and more. These taxes can be substantial and often go "unseen," potentially catching people off guard without professional advice and careful planning.If you need an estate tax analysis completed, please reach out.michael@dutrawealth.comwww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutraSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutra#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
When was the last time you did a corporate cash flow analysis?It is imperative that you track your active business income, investment income, dividends, expenses, and ensure you are not paying more taxes than necessary. If you need a corporate cash flow analysis for your company, please reach out to me.michael@dutrawealth.comwww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutraSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutra#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Do you have a company organizational chart?I cannot overstate the importance of having your operating company, holding companies, trusts, shareholders, and more, all organized on a well-designed one page document. If you need a custom-designed company organizational chart for yourself, please reach out to me.michael@dutrawealth.comwww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutraSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutra#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Whole life insurance for business owners0:00 Intro0:25 Example 1:03 Capital Dividend Account 2:25 Taxes saved www.dutrawealth.comhttps://www.linkedin.com/in/michaeldutraSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
In this video, I provide examples of how much your estate taxes may be and provide solutions to pay for this tax bill.0:00 Introduction0:20 $1,000,000 tax bill example2:20 Solution Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798www.dutrawealth.comhttps://www.linkedin.com/in/michaeldutra#estateplanning #federalbudget #canada #business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
2024 Federal Budget: Capital Gains Tax increase for individuals.The 2024 Federal Budget proposes to increase Capital Gains Tax for personal assets from 50% to 66% (2/3) on capital gains of $250,000 and more. For capital gains taxes under $250,000, the current 50% tax on capital gains remains the same.In this video, I provide examples of how much these additional taxes may be for you and provide solutions to pay for this tax bill.0:00 Introduction0:39 Example4:55 Solution Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutra#federalbudget #canada #business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
2024 Federal Budget: Capital Gains Tax increase for business owners.The 2024 Federal Budget proposes to increase Capital Gains Tax for business owners from 50% to 66% (2/3). In this video, I provide examples of how much these additional taxes may be for you and provide solutions to pay for this tax bill.0:00 Introduction0:39 Example4:55 Solution Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutra#federalbudget #canada #business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Key Man coverage for Business Partners.One of the most stressful financial situations you can ever face is the premature passing of one of your business partners.How are you going to buy out their shares?I explain the worst and best ways to buy your partner out and protect everyone's shares. 0:00 Introduction0:30 $10,000,000 valuation1:08 Solution 2:32 Capital Dividend Account Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutra#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Should you have a holding company?0:30 Corporate tax rates1:00 Lifetime Capital Gains Exemption2:25 Hold co 2:48 Assets in hold co Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutra#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
The value of Bitcoin has dramatically increased this year. If you hodl Bitcoin, how much are your taxes going to be?0:39 How much tax? 3:08 Future taxes 4:00 Solutions Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutra#bitcoin #crypto #cryptocurrency #cryptonews #business #consulting #corporation #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Did you know you can insure your net corporate income?Depending on several factors such as age, occupation, and net corporate income, you can be eligible to receive up to $300,000/year in tax-free payments if you become injured or sick and cannot work.Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.dutrawealth.comhttps://www.linkedin.com/in/michaeldutra#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Would you pick Job A or Job B?Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Do you know what a tax-free capital dividend is?
If you have a credit to your capital dividend account, you can pay tax-free capital dividends out of your corporation.
In this video, I explain how you can credit your corporation's capital dividend account, allowing for tax-free capital dividends to be paid.
0:00 What are capital dividends?
1:26 Real estate example
3:05 Life insurance example
6:20 Whole life insurance example
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
https://www.linkedin.com/in/michaeldutra
business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #finance
Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Will you qualify for the $1,016,836 lifetime capital gains exemption (LCGE)?The CRA has very strict guidelines on qualifying.It's a very costly mistake to make if you are offside.Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#business #consulting #corporation #realestate #estate #children #family #taxes #lifeinsurance #businessowner #taxes #insurance #estateplanning #wealth #financeDisclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
I break down how my corporately owned life insurance policy will allow tax-free capital dividends to be paid out of my corporation.Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#business #parent #kids #children #family #taxes #lifeinsurance #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
I saved $78,278 in premiums on my $3,000,000 life insurance policy because I'm in good health, here's how I did it...0:00 Overview of video2:22 What medical tests did they do on me?3:10 I saved $78,278 in premiums4:20 My message for youSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#healthy #parent #kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
I've had 4 prospects die while discussing their life insurance.Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#healthy #parent #kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
In 14 years, unfortunately, 4 of my clients died.0:00 Overview of video1:00 Did John have enough life insurance?2:05 Do you have house insurance?4:40 Choosing your life insurance advisorSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#healthy #parent #kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Buying life insurance can be an emotional rollercoaster. No one likes talking about dying, but sometimes you have to. There are two main categories of people when it comes to buying life insurance. Which category are you in?0:00 Overview of video0:30 Two types of people2:05 The roller coaster approach3:30 The turning point4:58 Making incremental progressSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#healthy #parent #kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
You don't automatically qualify for life insurance. In fact, many people can't get life insurance because of health issues. Life insurance is a privilege and in this video, I share some tips about applying for life insurance.0:00 Overview of video3:15 I've had 4 clients die4:30 You can't buy your way to life insurance5:25 Doing blood work7:44 Making your case8:50 Reducing your premiumsSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#father #healthy #parent #kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
You and I have little ones relying on us.Don't forget, it's health AND wealth, not health OR wealth. You need to protect both.0:00 Overview of video0:25 Health & wealth1:30 Seeing your doctor2:48 Having a heart attack4:45 Protect your income5:37 What if you die?5:57 Should you self-insure?7:32 How to apply for life insuranceSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.ca
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
https://www.linkedin.com/in/michaeldutra#father #healthy #parent #kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
Wealth is nearly impossible to enjoy if you aren't in good health, and if you aren't in good health, it's nearly impossible to accumulate wealth.The two are completely intertwined. What is your game plan to elevate your health & wealth in 2024?0:00 Overview of video0:45 72 Hour fast1:40 Working out3:10 Alcohol at a lunch meeting4:00 Wealth protectionSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#health #healthy #kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations, general discussion & more. Personal details need to be obtained and a thorough review of all concepts before implementing anything. Please consult the appropriate professional(s) including but not limited to insurance, tax, accounting, legal, health, and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for tax, legal, health, accounting, or any other advice. You should consult your own professionals and advisors before implementing any transaction. Financial Underwriting may be required for any topic discussed.
How did 2023 go?
Did you accomplish your health & wealth goals?Did you get halfway through some?Did you push some off for 2024?Here's a breakdown of some of the most common goals I talked about with my friends, family, and clients. 0:00 Overview of video0:38 Your will2:08 Your life insurance3:04 Your healthSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#health #healthy #kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
In 2 months, my son will be born.One thing I will be doing for him financially speaking, is buying a Whole Life Insurance policy on him.I thought it would be a good idea, parent to parent, to explain why I am doing this and what the benefits will be for my child and potentially yours.0:00 Overview of video0:50 My main reason1:26 Features of a whole life policy2:57 How much does it cost?Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#kids #children #family #taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Dividends and salary are the trwo common ways most business owners think of when it comes to taking money out of their corporation.
There is a 3rd, very tax-efficient way, to create tax-efficient income for yourself and it involves a corporately-owned whole life insurance policy.0:00 Overview of video1:00 Business owner example1:44 Features of a whole life policy5:30 Tax-efficient income8:20 Tax-free money out of your corporationSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Is there a hidden tax bill within your assets?Can you pass down your properties to your children without any tax implications?What about passing down your company, stock portfolio, or crypto portfolio?All this and more is answered in this video.0:00 Overview of video0:45 What happens at death?1:35 Net worth vs Estate worth Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Should you pay for your life insurance policy corporately or personally?Which way saves you money?Which way can cost you greatly?All this and more is answered in this video.0:00 Overview of video0:15 Corporate tax rates0:35 Personal tax rates0:58 Comparing both options1:56 $79,000 in savingsSpotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
How much life insurance can $1,000,000 buy you?
Why would someone need this much?
What are the living benefits of a whole life policy?
All this and more is answered in this video.
0:00 Overview of video 0:40 How much insurance can you get? 1:50 How long do you pay for? 3:40 Corporately-paid for 5:20 Tax-free transfer out of corporation 6:56 Living benefits of this policy 10:12 Payment flexibility
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
https://www.linkedin.com/in/michaeldutra
taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Can you be too young for life insurance?Why would someone in their 20s even get life insurance?All this and more is answered in this video.Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9oApple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798Anchor: https://anchor.fm/michael-dutrawww.michaeldutra.cahttps://www.linkedin.com/in/michaeldutra#taxes #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Can you be too old for life insurance?
Is it too expensive?
What if you've had health issues?
All this and more is answered in this video.
0:00 Overview of video 0:29 What question should you ask yourself? 1:00 Your window of opportunity 2:28 Is it too expensive? 2:48 The point of life insurance 4:00 Health issues
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
https://www.linkedin.com/in/michaeldutra
taxes #lifeinsurance #business #businessowner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance #family
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Learn how you can pay your taxes with your life insurance policy.
In this podcast, I discuss using your life insurance policy to pay for your personal & corporate income taxes, capital gains taxes, and taxes owed in your estate.
0:00 Overview of video 2:00 Personal and Corporate taxes 3:00 Capital gains tax 4:28 Estate taxes 6:30 How life insurance works
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
https://www.linkedin.com/in/michaeldutra#taxes #lifeinsurance #business #businessowner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance #family
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
What are your biggest cyber risks as a company?
What is your cyber credit score?
What is your daily cyber hygiene?
All of this and more is discussed in this interview with the founder and CEO of Iceberg Cyber and Thecyberscore.com, Michael Bakaic.
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.thecyberscore.com
https://www.linkedin.com/in/michael-bakaic
www.michaeldutra.ca
https://www.linkedin.com/in/michaeldutra
cyber #cybersecurity #business #businessowner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance #family
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
A fit bit for plants! Never over water or under water your plants again! Hear from the Founder & CEO of EarthOne - Sid Pereira.
From fine potting soil to sphagnum moss, EarthOne’s soil moisture sensor reliably and accurately produces moisture readings over time.
No matter the plant, its got your back.
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
https://earthone.io
https://www.linkedin.com/in/sidhanthpereira
www.michaeldutra.ca
plants #plant #water #business #businessowner #corporation #entrepreneur #entrepreneurship
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
This video breaks down Whole Life Insurance and discusses the death benefit, the cash value, and how to use this insurance during your lifetime for tax-efficient income & capital.
0:00 What is whole life insurance? 1:45 Permanent life insurance 2:08 Cash value 4:12 Borrowing against your policy 5:30 Leveraging your policy for personal use
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
https://www.linkedin.com/in/michaeldutra
https://www.linkedin.com/in/michaeldutra#wholelifeinsurance #lifeinsurance #business #businessowner #corporation #taxes #insurance #estateplanning #wealth #finance #family
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
What is Critical Illness Insurance? How much do you need? Who needs it?
This short video answers all of these questions and more.
0:00 What is Critical Illness Insurance 0:22 What is covered? 1:21 How much do you need? 2:14 100% return of premium
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
criticalillness #heartattack #cancer #stroke #lifeinsurance #business #businessowner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance #family
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Learn how you can receive a tax-free monthly income to the age of 65 if you become injured or sick and cannot work.
0:00 What is Disability Insurance? 0:15 Job A or Job B? 1:05 How much does it cost?
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
disability #disabilityinsurance #lifeinsurance #business #businessowner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance #family
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
What is Term Insurance? How much do you need? Who needs it?
This short video answers all of these questions and more.
0:00 What is term insurance 1:00 Why would you need term insurance 2:30 How term insurance works 3:15 Term 20 3:40 Term 10 4:40 How much do you need?
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
term #termlifeinsurance #lifeinsurance #business #businessowner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance #family
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
This episode explains the best and worst ways to buy out your business partners' shares if they suddenly passed away.
This unfortunately happens more often than you may think.
There is a very cost-effective solution to this massive problem, and in this short video, I explain how.
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
businesspartnerships #partnership #business #businessowner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
If you need a large amount of life insurance, but do not want to be out of pocket large insurance premiums, this strategy may be for you.
You can buy the life insurance you need, but get your money back right away, so you can continue to make your own investments.
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
businessowner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance
Disclaimer: These videos discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
If you have the majority of your wealth in your corporation, you need to consider strategies that will help you remove assets tax-free from your corporation when you pass away.
Your Capital Dividend Account (CDA) can help you accomplish this.
The advice discussed in this video can save you a significant amount of taxes and stress.
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.michaeldutra.ca
business owner #corporation #taxes #lifeinsurance #insurance #estateplanning #wealth #finance
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Do you have 1 will? Have you ever heard about having 2 wills?
Sarah Mumtaz of Sarah Mumtaz Law Offices explains what a secondary will is, who may need it, and the benefits it can bring to yourself, your family and your company.
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
www.sarahmumtazlaw.com
www.michaeldutra.ca
wills #contract #law #lifeinsurance #insurance #estateplanning #businessowner #wealth #finance
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Are you a business owner wondering how insurance and taxes can impact your financial security? In this episode, we talk to our financial expert, Michael Dutra, who shares his insights and advice on navigating these complex topics.
Michael discusses various types of insurance, including tax-exempt whole life insurance policies, and how they can be beneficial for growing businesses. He also explains the importance of properly coordinating professionals, such as lawyers and bankers, during business transitions to ensure strategic discussions and challenges.
Additionally, Michael emphasizes the significance of planning ahead to avoid unnecessary taxes and shares tips, such as utilizing an estate freeze and investing in life insurance, to do so. He also discusses several strategies which has saved his clients millions of dollars in taxes over the years.
If you're looking for expert advice on insurance and taxes for your business, this episode is a must-watch. Contact Michael directly for more information and insights on optimizing your financial strategies.
www.michaeldutra.ca insurance@michaeldutra.ca
Contact information: Connect with Purdeep on LinkedIn https://www.linkedin.com/in/purdeepsangha
To join his VIP list and get further FREE insight, go to www.PurdeepVIP.com
What is a marriage contract?
Who needs a marriage contract?
What are the benefits of a marriage contract?
All of these questions and much more are answered in this video.
Demetre Vasilounis, Associate from Fasken Martineau DuMoulin LLP, shares his expertise on the subject.
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra#marriage #contract #law #lifeinsurance #insurance #estateplanning #businessowner #wealth #finance
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
The day is inevitable, a client will pass away.
This podcast explains what happens, how you should handle it and some important items to consider from a client and advisor perspective.
Spotify: https://open.spotify.com/show/624XIhnIuWtQ2iyRhrnO9o
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
There are many ways to finance a real estate transaction.
You can rely on a traditional mortgage, private lending, cash or using your life insurance policy.
This video explains how you can use a tax-exempt whole life insurance policy to finance your next real estate transaction.
Spotify: https://open.spotify.com/show/624XIhn
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra#realestate #lifeinsurance #insurance #debt #debtfree #business #businessowner #wealth #finance #realestate
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Let's start off by saying 'mortgage' insurance does not exist!
It is creditor insurance and your family is not the beneficiary.
In this video, I discuss the major risks of creditor insurance and I explain what is the only way you should be insuring your mortgage debt.
Spotify: https://open.spotify.com/show/624XIhn
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra#mortgage #creditor #lifeinsurance #insurance #debt #debtfree #business #businessowner #wealth #finance #realestate
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Most people with real estate portfolios track the fair market value of each property and the purchase price.
There is a third, very important calculation you need to consider.
How much are your capital gains taxes going to be when you pass these properties down to your children?
In this podcast, I explain how to calculate the capital gains taxes, and most imporantly, how to pay for these taxes in a very efficient manner.
Spotify: https://open.spotify.com/show/624XIhn
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra
lifeinsurance #insurance #business #businessowner #wealth #finance #capitalgainstaxsolutions #realestate
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Can you self-insure and should you self-insure...two very different questions.
Many families can self-insure. They have the wealth, assets and resources to financially protect themselves, their family and their corporation if they passed away.
But, that does not necessarily mean they should self-insure.
This video explains the difference between the two questions and highlights the risks of self-insuring.
Spotify: https://open.spotify.com/show/624XIhn
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra#lifeinsurance #insurance #business #businessowner #wealth #finance
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Are you a self-investor?
Do you need life insurance but prefer to keep your money for your own investments instead of paying large insurance premiums?
This is a strategy that allows you to get the life insurance you need, but keep your money for your own investments.
Spotify: https://open.spotify.com/show/624XIhn
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra#lifeinsurance #insurance #business #businessowner
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction. Financial Underwriting may be required for this strategy.
Despite the health issues you've had, there may be a strategy to get yourself on a life insurance policy with your spouse.
Learn about the benefits that a joint life insurance policy can offer you and your family.
Spotify: https://open.spotify.com/show/624XIhn
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra#lifeinsurance #insurance #business #businessowner
Disclaimer: These podcasts discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction.
Real estate, stocks, cash & tax-exempt whole life insurance, they all come together to build you a complementary portfolio.
Learn about the tax-efficient benefits that a tax-exempt whole life insurance policy can bring you, your family and your company.
Spotify: https://open.spotify.com/show/624XIhn
Apple Podcasts: https://podcasts.apple.com/us/podcast/mike-check-1-2-1-2/id1608028798
Anchor: https://anchor.fm/michael-dutra#lifeinsurance #insurance #business #businessowner
Disclaimer: This podcast discusses strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction.
Your net worth is simple to calculate. It's your assets - liabilities = net worth.
Your estate worth, factors in the taxes owed in your estate from these assets when you pass away and transfer these assets down to your children and grandchildren.
Your estate worth can be significantly less than your net worth because of these taxes.
There's 3 things you need to know:
1) Which of your assets will be taxed when you pass away
2) How much the tax bill will be
3) Most importantly, how are you going to pay these taxes in a cost-effective manner.
There are some very ineffective ways to pay for these taxes and some very effective ways to pay. In this video, I talk about everything above and give you some advice on what not to do, and most importantly, what to do.
Disclaimer: These articles discuss strategies, concepts, illustrations & more. Personal details need to be obtained and a thorough review of all concepts before implementing any of them. Please consult the appropriate professional(s) including but not limited to insurance, tax and estate planning before making any final decisions. This material has been prepared for informational purposes only, and is not intended to provide, and should not be relied on for, tax, legal or accounting advice. You should consult your own tax, legal and accounting advisors before implementing any transaction.
If you have any secondary properties (rental properties, family cottage, vacation homes) you will most likely be facing capital gains taxes when you pass these properties to your children.
This video explains how to calculate the taxes and also how to pay for them in the cheapest manner possible.
This will save you a lot of money.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Wealth preservation is just as important as wealth accumulation.
In this podcast, I share 7 tips to preserve your wealth from taxes and for future generations.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
This video will highlight how to create the opportunity for tax-free dividends to be paid out of your corporation to your family and estate because of a corporately-owned insurance policy.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
This short podcast will you the basics of a whole life policy so you can understand how the life insurance and cash value works.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
This episode will explain how to use the money inside your corporation for personal use, without triggering massive tax bills.
This is a very tax-efficient way of using corporate dollars for personal use.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
There is a good chance you will owe taxes in your estate.
The more assets you have, the higher the probability there will be a tax bill associated with them in your estate.
This video highlights which assets are taxed and what the cheapest way to pay this tax bill is.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
These are the top 5 most common mistakes people make when buying life insurance.
Learn how to fix any mistakes you've made or how to prevent making a future mistake!
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
The Capital Dividend Account (CDA) is a special corporate tax account that allows shareholders to receive capital dividends on a tax-free basis.
This video shows you how buying a whole life insurance policy with your corporation can credit your Capital Dividend Account, allowing for tax-free dividends to be paid to your family and estate.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Do you need a large amount of life insurance but don't want to be out of pocket large sums of money?
This podcast will teach you how to buy large amounts of life insurance at a fraction of the cost, while keeping your own money in your pocket.
Thank you Dr. Vu Kiet Tran for having me on your Podcast - How's My Financial Health, Doc?
If you haven't listened to Dr. Vu's Podcast, please check it out!
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Have you ever thought about insuring your legs?
What about your smile?
What about your butt?
Well you can, and here's a list of the top ten celebrities who insured their body parts.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Which toothpaste should you buy?
How do you get rid of stains on your teeth?
How do you properly brush?
What does the saying 'long in the tooth' really mean?
Learn all of this and much more when Dr. Vasant Ramlaggan shares his 20+ years of experience as a Dentist in Toronto.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Have you been declined for life insurance?
Do you have major health issues?
Don't worry, if you have a spouse, you can still get life insurance...
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Who invented life insurance? Was it the Romans? What year? What is a burial club?
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
How are you going to pay for the capital gains taxes on your rental properties?
When you pass secondary properties down to your children (not your principal residence), there could be capital gains taxes to pay.
I talk about the best and worst ways to pay this tax bill.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
The 2022 Lifetime Capital Gains Exemption is $913,630.
You want to make sure you qualify!
It will be a very costly mistake to miss out on this.
I go over the 4 criteria needed to qualify for the 2022 Lifetime Capital Gains Exemption.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Learn about the intergenerational planning benefits of cascading insurance.
From grand parent, to adult child, to grand child.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
With over 15 years of personal training experience, Riley Beauchamp shares his wealth of knowledge and covers areas such as nutrition, building muscle, losing fat and working out.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Jean-Pierre Laporte discusses the benefits of a personal pension plan for business owners, medical professionals and executives.
Here's 3 quick points you need to know:
1) You can buy rental properties in your pension plan and all rental income you receive and capital gains on the property if you sell are tax-deferred.
2) You can pay for your life insurance with tax deductible dollars inside your pension plan.
3) You get 7 extra tax deductions to your corporation compared to an RRSP.
and there's much more...listen in!
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Patrick McGarry discusses what its like to be an angel investor. He provides great tips on what to look for in your next investment and what to avoid. Listen in for an in-depth discussion all about angel investing...the real deal shark tank.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Lou Cavallo provides an extremely interesting look into the glue industry. Its a sticky conversation. Did you know glue is found in baby diapers? Humpy Dumpty Potato Chip bags? How do you even make glue? All of these questions and more are answered.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Dr. Vu Kiet Tran, a podcast host himself of the highly successful podcast 'How's My Financial Health, Doc?', discusses history in the making and his role as the President of The Canadian Physician's Pension Plan. Any medical professional, business owner and executive needs to hear all about The new Canadian Physician's Pension Plan.
Here's 3 quick points you need to know about The Canadian Physician's Pension Plan.:
1) You can buy rental properties in your pension plan and all rental income you receive and capital gains on the property if you sell are tax-deferred.
2) You can pay for your life insurance with tax deductible dollars inside your pension plan.
3) You get 7 extra tax deductions to your corporation compared to an RRSP.
and there's much more...
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Can your corporation pay for your life insurance? Learn how much it can save you and all of the benefits of having your company pay for your life insurance.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
What happens if your business partner suddenly passes away? How will you afford to buy out their shares? Learn how to do this and protect everyone's ownership in the company.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Learn about 10 assets you may own that are taxable when you die.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Do you want to pass down the properties to you own to your children? What about the taxes?
How much will the capital gains taxes be on your rental properties, cottage, office and any other secondary properties you own (not your principal residence).
Learn how to calculate your capital gains taxes and what the cheapest way to pay for them is.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
If you are a physician, here are 5 quick tips about insuring your income so you receive a tax-free monthly income to the age of 65 if you are ever unable to work due to injury or sickness.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
If you are a Physician, learn how to protect your health and receive a lump sum tax-free cheque if you are diagnosed with a major sickness or illness.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
If you are a Dentist, here are 5 quick tips about protecting your income to ensure you receive a tax-free monthly income to the age of 65 if you are ever unable to work due to injury or sickness.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Do you know what a capital dividend account is? If you are a business owner, you most likely have one. Learn how a company-owned life insurance policy can credit your capital dividend account which allows for tax-free dividends to be paid out of your corporation to your family and estate.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Learn how a company-owned life insurance policy can credit your capital dividend account which allows for tax-free dividends to be paid out of your corporation to your family and estate.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
One of the main reasons families can't pass down their family cottage is because the capital gains taxes are too high to afford. Its a shame, but it can be planned for and there are efficient ways of paying this tax bill. Listen in so you can keep drinking coronas at the cottage.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Commonly referred to as probate fees, this is a quick overview of what estate administration taxes are and 5 ways you can minimize them.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Did you know you can buy real estate using your life insurance policy? This is how.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
The thorn in my side. Do not get mortgage insurance. Here's all the reasons why and the right way to insure your mortgage.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Everything you need to know about term life insurance & whole life insurance.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Have you ever thought about using your rental income to pay for your life insurance?
Learn how you renters can help you pay for the capital gains you'll be facing on your rental properties when you pass them down to your children.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Quick tips on must knows regarding COVID-19 and your life insurance.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
Frank Sinatra Vs. Michael Dutra.
.com or .ca?
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
What is the Guinness world record for the biggest life insurance policy ever?
Is it:
A) $85,000,000?
B) $125,000,000?
C) $201,000,000?
and learn why it made so much sense.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca
What happens to your business if you suddenly died? What happens to the value? Do you have employees and their families relying on your company to remain operating? Learn how you can insure against these risks.
YouTube: https://www.youtube.com/channel/UCpvujpE0yjPzxzILTSzeRug
LinkedIn: https://www.linkedin.com/in/michaeldutra/
Website: www.michaeldutra.ca