Annual Taxes - Humor In The Drudgery: Difference between revisions
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Revision as of 05:57, 22 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of greenbacks from someone will be in a high tax bracket to a person who is within a lower tax segment. It may even be possible to reduce the 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 can also be your children. Whenever it is easy to transfer income to someone in a lower tax bracket, it must be done.
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