2006 Report On Tax Scams Released By Irs: Difference between revisions
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Latest revision as of 03:36, 4 November 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of greenbacks from someone who's in a high tax bracket to a person who is from a lower tax bracket. It may even be possible to reduce the tax on the transferred income to zero if this person, doesn't get other taxable income. Normally, the other person is either your spouse or common-law spouse, memek but it can also be your children. Whenever it is easy to transfer income to a person in a lower tax bracket, it must be done.
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