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It's here! Our first episode of Season 2 of the Mind Wealth Podcast: Crypto! This episode is all about Cryptocurrencies and what we might want to consider when it comes to our use of them.
http://mycustombank.com/crypto-how-is-it-good-or-bad/

AND, we've recorded this session in video format as well, so you can listen and watch...or just listen :-)

Crypto! How is it good or bad? - Build My Custom Bank What do we say about cryptocurrencies? Well, there is a lot out there about it and a lot of people who will sing it’s praises to the rooftops. For the most part, we are talking in this episode about the technology relating to currencies (and not about it’s other uses). What are the pros and cons...

This episode goes over a real world example of a chiropractor that we know that was really paying quite a lot in taxes when he didn't need to. Some of the main points that we go over include:

✅ In general, business owners should not be paying themselves as employees.

✅ For everyone (business owners and employees), it is possible to pay for your extra medical expenses with pre-tax dollars so that you don't have to pay income taxes on the money you spend on you and your families medical expenses.

✅ For business owners, some types of insurance that you are paying for can actually be paid for by the business with pre-tax dollars.

✅ We also go over how there are some scenarios where business owners SHOULD pay themselves as employees if there is a justifiable reason to do so.

✅ RRSP money is some of the most expensive money you can ever use if you need to access it before retirement for whatever reason.

✅ Tax brackets have only ever gone up, so don't expect to be in a lower tax bracket when you retire because it might not be the case.

Our True Wealth Workshop is at http://mycustombank.com

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‎Mind Wealth Podcast: Don't pay yourself as an employee and don't pay income taxes on your medical expenses on Apple Podcasts ‎Show Mind Wealth Podcast, Ep Don't pay yourself as an employee and don't pay income taxes on your medical expenses - Sep 11, 2019