Learn On How A Tax Attorney Works: Difference between revisions
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Latest revision as of 22:23, 22 September 2026
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 a person who is in the lower tax area. It may even be possible to reduce the tax on the transferred income to zero if this person, doesn't possess any other taxable income. Normally, the other individual is either your spouse or common-law spouse, but it can also be your children. Whenever it is possible to transfer income to someone in a lower tax bracket, it must be done.
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