Series II – Freedom: Debt, Tax & Risk Mitigation
“Conserve and Protect”
- Debt, Tax & Risk Mitigation teaches ways to rapidly reduce debt, minimizes taxes, and protection vehicles to keep unplanned incidents from harming you.
HOW TO GUIDES:
- Setting up insurance policies – when, why, how, questions to ask
- How to set up a business entity and knowing what business structure is right for you
- How to on reducing taxes
ASSIGNMENTS:
- Review Personal Taxes – Know how to move expenses off of Sch-C and 1040
- Set up Entity Structure – LLC, S-Corp or C-Corp
- Reverse Mortgage – Use to reduce debt and increase investments
- Personal Insurance Review
Course 2(a): “Know Your Taxes; Create Your Entity”
(This first 2 hour workshop walks you through the ins and outs of your personal and business tax returns.)
- Finding more of your own money (Part 2)
- Setting the stage from “Thinking Like A Business” to “Structuring Your Own Business”
- How to apply appropriate tax strategies and corporate structures to companies
- Q and A
Please bring with you:
- personal tax returns
- business tax returns (if you have one)
Course 2(b): “Managing Risk: Be Your Own Business”
(This second 2 hour workshop covers the 4 elements of risk and what to look for in insurance coverage.)
- Quick review of Course 2(a)
- 4 elements of risk: Avoid, Reduce, Retain, Transfer
- 4 basic types of insurance coverage: Stuff (like Auto/Home/Rental), Liability, Health, Life
- Explaining the 5 different types of Life Insurance
- 2 main reasons for having Life Insurance: protection, be the bank
- How to use tax codes with tax free benefits, if properly designed
- Q and A
Course 2(c): “Debt Reduction”
(This third 2 hour workshop sheds new light on paying off debt, how to increase cash flow margin to turn our disappearing dollar into the reappearing dollar.)
- Quick review of Course 2(b); follow-up summary on insurance protection
- When and how to attack bad debt
- Increase cash flow margin and put it to work
- Ways to turn our disappearing dollar into the reappearing dollar
- How Reverse Mortgages work; how to use to reduce debt and increase investments
- Entity structuring that can save money and add financial protection for you and your family
- S-Corp verses C-Corp
- Q and A
Course 2(d): “Tax Snowman”
(This final Series II, 2 hour workshop will discuss the importance of managing your marginal tax bracket to minimize taxes and the proper use of leverage.)
- Quick review of Course 2(c)
- Taxable vs. Tax Favored vs. Deferred
- Discover the “Marginal Rule”
- Managing your marginal tax bracket; how to stay in the 15% and 10% brackets
- Proper use of leverage = cash flow real estate
- What are capitalization rates and leverage?
- Q and A