Annual Taxes - Humor In The Drudgery: Difference between revisions
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Revision as of 13:27, 15 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of revenue from someone who is in a high tax bracket to a person who is in the lower tax group. It may even be possible to reduce the tax on the transferred income to zero if this person, doesn't possess other taxable income. Normally, the other person is either your spouse or common-law spouse, but it can also be your children. Whenever it is easy to transfer income to a person in a lower tax bracket, kontol it should be done.
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