"At this point, we turn to the matter of ownership of the policy (or policies). The company, a corporation, should not own it. He can improve the wealth building effects of the whole scenario by owning the policy, himself, and lease the equipment to the corporation, making sure that he has charged a lease payment that is the highest possible. By doing it this way, he can have an interest deduction for the policy loans used to purchase the equipment (the loans are for the leasing business purpose). He can depreciate the equipment over a reasonable time, and he has a “captive customer” to lease the equipment that is sure to make the lease payments.” - Becoming Your Own Banker - R. Nelson Nash
Connect with Doug MacKenzie:
Website: Control Capital Solutions
Email: dmackenzie@controlcapitalsolutions.com
Connect with John Fox Ward:
Website: Nash Cashflow - The Nash CashFlow Group
Email: John@nashcashflow.com
