History From The Federal Tax: Difference between revisions

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Revision as of 02:27, 16 October 2024

S is for SPLIT. Income splitting is a strategy that involves transferring a portion of income from someone who's in a high tax bracket to someone who is within a lower tax area. 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 someone in a lower tax bracket, it must be done. If major bokep between tax rates is 20% your family will save $200 for every $1,000 transferred to your "lower rate" close friend.

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Copyright 2010 by RioneX IP Group LLC. All rights ordered. This material may be freely copied and distributed subject to inclusion of such a copyright notice, author information and all of the hyperlinks are kept undamaged.

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