Income Control for Canadian Business Owners Save Thousands in Taxes

Magnify Wealth Podcast with Scott Gannon

In this episode, Cameron and Scott dive into the critical topic of income planning for incorporated professionals—a cornerstone of financial success for business owners, consultants, and professionals. They discuss what income planning is, why it’s vital for achieving tax efficiency, and the common mistakes that can cost you in the long run, such as overpaying taxes, poor cash flow management, or failing to retain earnings.

Cameron and Scott also explore how tools like Infinite Banking—leveraged through specially designed life insurance policies—can provide guaranteed growth, tax advantages, and liquidity for both personal and corporate needs. By leaving profits in your company and minimizing personal income, you can create a financial strategy that protects your wealth while allowing for long-term investments, including real estate and other growth opportunities.

With practical tips, clear examples, and a roadmap for aligning your personal and corporate goals, this episode gives you the knowledge to optimize your income planning strategy and build recession-proof wealth.

Tune in to discover how thoughtful planning and innovative tools can help you maximize your financial potential and achieve lasting security!