Dealing With Tax Problems: Easy As Pie: Difference between revisions
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Revision as of 05:38, 21 February 2025
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of revenue from someone which in a high tax bracket to someone who is in a lower tax range. It may even be possible to lessen tax on the transferred income to zero if this person, doesn't have other taxable income. Normally, the other body's either your spouse or common-law spouse, but it could even be your children. Whenever it is possible to transfer income to a person in a lower tax bracket, it must be done. If major Pornhub between tax rates is 20% your own family will save $200 for every $1,000 transferred towards the "lower rate" family member.
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