History For This Federal Tax: Difference between revisions
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Revision as of 14:32, 1 November 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of greenbacks from someone can be in a high tax bracket to a person who is in a lower tax segment. It may even be possible to reduce the tax on the transferred income to zero if this person, anjing doesn't get other taxable income. Normally, the other person is either your spouse or common-law spouse, but it could even be your children. Whenever it is possible to transfer income to someone in a lower tax bracket, it should be done.
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