Difference between revisions of "2006 Report On Tax Scams Released By Irs"
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Revision as of 01:18, 4 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of income from someone can be in a high tax bracket to a person who is within a lower tax range. 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, kontol the other body's either your spouse or common-law spouse, but it could even be your children. Whenever it is easy to transfer income to someone in a lower tax bracket, it should be done.
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