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Some Important Notes:
(1) Calculations in the example are before deductions based on 2014 federal and BC provincial tax rates on earned employment income using marginal tax rates (excluding capital gains and dividends). (2) Premiums based on IA Universal Life illustration ran 19Sep15. Tax savings based on tax rates for $100,000 annual income. (3) Life and Health insurance benefits would be taxable if deducted as a business expense.
This document is for general information purposes only and does not form any part of a policy contract. The scenarios described in this document provides only a general outline of some financial strategies. Readers should seek independent legal, tax and accounting advice with regard to the views expressed in this document. The figures used in this presentation are derived from past cases and are provided to show an example scenario only. The financial results experienced in the case example may not be typical and are likely to vary with other examples and instances.
© Magdalena (Medy) Dytuco, Dytuco Financial Services, Oct2015