Difference between revisions of "Offshore Accounts And Consideration Irs Hiring Spree"
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Revision as of 12:24, 12 May 2026
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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 someone who is within a lower tax clump. 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 individual 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, it must be done. If develop and nurture between tax rates is 20% your own family will save $200 for every $1,000 transferred to your "lower rate" general.
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