When Is A Tax Case Considered A Felony: Difference between revisions
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Revision as of 08:16, 15 September 2026
lanciao 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 in a lower tax bracket. It may even be possible to lessen 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 could even be your children. Whenever it is possible to transfer income to someone in a lower tax bracket, lanciao it should be done.
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