A Status Taxes - Part 1: Difference between revisions
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Revision as of 07:12, 15 September 2026
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As you read earlier, Canada's tax system is progressive consequently the more you earn, the higher the tax rate. Lowering your taxable income minimizes amount of tax payable. In our software company there are two methods to build wealth and a lot more places through intellectual property and maintenance legal contracts. These two things used together will build a provider that could be sold for 2-4X proceeds. Now to foster that investment with leverage, I prefer the "Infinite Banking Concept" to lend money towards business through "my own bank." Now the money firm pays me comes back as investment income and that means lower taxation.
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