Getting Gone Tax Debts In Bankruptcy: Difference between revisions
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Latest revision as of 20:04, 22 September 2026
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of income from someone which in a high tax bracket to a person 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 possess any other taxable income. Normally, the other body's either your spouse or common-law spouse, but it can also 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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People hate paying fees. Tax avoidance strategies are entirely legal and needs to be made good use of. Tax evasion, however, is not.