3 Facets Of Taxes For Online Business: Difference between revisions
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Latest revision as of 00:18, 8 October 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 clump. It may even be possible to lessen tax on the transferred income to zero if this person, doesn't have any other taxable income. Normally, the other person is 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 must be done.
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