How to Use Income Shifting to Reduce Taxes

One of the most powerful ways to increase your net worth is to reduce your tax liabilities as much as possible. There are many ways to reduce your taxes as an entrepreneur: Tax preferred retirement accounts, charitable contributions, business structure, 1031 exchanges, etc, etc, etc.

One of the COOLEST ways to not only reduce YOUR taxes, but also ELIMINATE your kids' taxes is a strategy called "Income Shifting". Income Shifting in its simplest form is transferring your higher tax liability to the much lower (or zero) tax liability of your children or other members of your family.

When you combine this strategy with a well structured and executed high cash value whole life insurance policy, you will absolutely DOMINATE life and be well on your way to creating generational wealth!

Check out this video to learn how I structured my company to reduce my tax burden, pay my kids, have them pay ZERO taxes, fund 4 $1M life insurance policies (yeah, that's $4M total!) with tax free money, then use those policies to fund a $2.5M RV park that we are buying later this month!

The power of knowledge is incredible, guys and gals. Our value as entrepreneurs is our minds. Use yours and you will achieve greatness!