There are three secret tax loopholes involving certain financial products, specifically life insurance, that the IRS won't tell you, but I will!
- Section 72E: This states that you can actually get tax-free compound interest in certain financial products.
- Section 7702: This section states that when you access the money in certain financial products, it will be tax-free when you touch it.
- Section 101A: According to this section, when you pass away, your beneficiary can receive the funds of these contracts completely tax-free.
The financial products to which these tax regulations apply happen to be life insurance.
If you're ready to set up a life insurance compound interest account that gives you these tax benefits, DM me and I'm happy to help.
Here's my caveat to the whole message: Just because something is tax-advantaged or tax-free in some natures doesn't make it amazing. There are a lot of life insurance options out there that, if not structured properly, can be a disaster. However, overall, I thought it was a very creative video to lay out the tax benefits of life insurance.
Full Transcript
three secret tax loopholes the IRS won't tell you but I will. First one is under section 72E and it states that you can actually get tax-free compound interest in certain financial products. Second one states under section 7702 that when you go to access that money in certain financial products, that it's also going to be tax-free when you touch it. Final one is under section 101A which states when you pass away, your beneficiary can receive the funds of these contracts completely tax-free. By the way, the financial products that these tax regulations apply to happen to be life insurance. If you're ready to set up a life insurance compound interest account that gives you these tax benefits, DM me and I'm happy to help. So here's my caveat to the whole message of like, hey, you want to work with me because I just like showed you three tax loopholes is like just because it's tax advantaged or tax-free in some natures doesn't make it amazing. There are a lot of life insurance out there that if it's not structured properly, it can be a disaster. But overall, I thought it was a very creative video to kind of lay out the tax benefits of life insurance.
