# Farming Without the Bank in Canada: What's Different (And What Could Cost You) (Ep. 351)

Page: https://stenobird.com/podcast/farming-without-the-bank-podcast-86470/farming-without-the-bank-in-canada-what-s-different-and-what-could-cost-you-ep-351
Text version: https://stenobird.com/podcast/farming-without-the-bank-podcast-86470/farming-without-the-bank-in-canada-what-s-different-and-what-could-cost-you-ep-351.md
Podcast: [Farming Without the Bank Podcast](https://stenobird.com/podcast/farming-without-the-bank-podcast-86470)
Published: 2026-04-24T10:00:00+00:00
Episode link: https://farmingwithoutthebank.libsyn.com/farming-without-the-bank-in-canada-whats-different-and-what-could-cost-you-ep-351
Audio file: https://traffic.libsyn.com/secure/farmingwithoutthebank/FWTB_-_Ep._351_-_Lacy_Rowan.mp3?dest-id=1182140
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JSON: https://stenobird.com/v1/public/podcasts/farming-without-the-bank-podcast-86470/episodes/farming-without-the-bank-in-canada-what-s-different-and-what-could-cost-you-ep-351
Duration seconds: 3550

## Resource

Canadian IBC warning! Policy loans can trigger taxes—know ACB before it costs you. 👉 Follow Mary Jo Here: https://www.youtube.com/@MaryJoIrmen?sub_confirmation=1 In Canada, borrowing from your whole life policy could become taxable income if you're not careful. Most farmers and ranchers north of the border don't know about the Adjusted Cost Basis (ACB) — and it could cost them. In this episode, MJ sits down with Lacy of Ranch Your Way to break down exactly how the Infinite Banking Concept works differently in Canada, what traps to avoid, and why understanding agriculture is non-negotiable for any financial advisor serving farm and ranch families. Lacy brings a rare combination of boots-on-the-ground ranching experience and deep financial expertise. A Texas-born horsewoman who married a Canadian rodeo cowboy and now runs cattle on a family ranch established in 1910, Lacy understands the agricultural world from both sides of the fence — literally. Together, MJ and Lacy explore the critical differences between US and Canadian infinite banking policies, the realities Canadian farmers are facing with new government regulations, and why protecting your family legacy requires more than just working hard — it requires a plan. Whether you're a Canadian farmer looking to implement the Farming Without the Bank strategy, a financial advisor serving agricultural clients, or simply curious about the cross-border differences in whole life insurance policy structures, this episode is packed with real-world insight you won't find anywhere else. Key Takeaways: ✅ The Adjusted Cost Basis (ACB) is Canada's biggest difference — when your ACB hits zero and you have an outstanding loan at year-end, that loan can become taxable income ✅ The Insured Retirement Plan (IRP) is a powerful Canadian-…

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