Robert Klein Newsletter - May 2024/Edition 144

Robert Klein - Mortgage & Life Insurance Broker

robert@robertklein.ca
778 896 6732
http://www.robertklein.ca

Robert - Facebook Robert - Twitter Robert - Linkedin

April 2024 Foreclosures

 

April 2024 Abbotsford Attached
April 2024 Chilliwack Attached
April 2024 Burnaby Detached
April 2024 Chilliwack Detached
April 2024 Abbotsford Detached
April 2024 Maple Ridge Attached
April 2024 Burnaby Attached
April 2024 Mission Attached
April 2024 Maple Ridge Detached
April 2024 Langley Detached
April 2024 New West Detached
April 2024 North Van Detached
April 2024 North Van Attached
April 2024 Tricities Attached
April 2024 Richmond Detached
April 2024 Surrey Attached
April 2024 Richmond Attached
April 2024 Surrey Detached
April 2024 Tricities Detached
April 2024 White Rock Attached
April 2024 West Vancouver Attached
April 2024 White Rock Detached
April 2024 West Vancouver Detached
April 2024 Vancouver Attached
Edmonton Foreclosures
Fort McMurray Foreclosures
Kamloops suited homes around $500k

Calgary Foreclosures 



Why My Personal Tax Rate is Low

 

One of the tools I use is Whole Life owned by my holding company.  

I get a loan personally to pay the premiums.  When the funds transfer across to my corporate structure, I get shareholder loan credits.  I then pay out funds from my opco using shareholder credits. 

Boom.  Low tax rate. 

This is tax deferral and not tax-free.  Eventually, CRA will get their tax when I pass away.  The fun trick is my insurance contract will pay the tax and not myself personally.    

This is one of the many things I do to keep my personal tax bill low.

This service is part of the Mortgage-Managed Program where I optimize everything for financing and taxes. 



Amazing How Time Flies

 

Robert is 9 years old.  This means I have another 3 to 4 Halloween's with him until he does not want to go trick or treating.  I remember when the first Halloween came around and I thought, I have 12 more to go. 



Sarah Throwing the Net for Crabbing

 

I think Sarah has gone crabbing 5 to 6 times now.  So far, nothing legal to keep!



What is Private Banking

 

It's lending for high net worth and ultra-high net worth.  It has the absolute best qualifying structures for those who have operating companies and want to own more Real Estate.  

Key points:

1. Use OPCO net income as the income regardless of what is paid to yourself personally

2. Allow ownership of rental properties and principal residence in holdco.  

Not all banks are equal and not all private bankers are equal.  You have to find the best bank with an elite private banker.  

I do this as part of the mortgage managed program. 



Newsletter not displaying properly? Click here to view on the web