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Revisión del 19:39 5 oct 2024
S is for SPLIT. Income splitting is a strategy that involves transferring a portion of income from someone is actually in a high tax bracket to a person who is in a lower tax bracket. 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 easy to transfer income to someone in a lower tax bracket, it should be done. If develop and nurture between tax rates is 20% your family will save $200 for every $1,000 transferred for the "lower rate" general.
What we are all aware as your 'income' tax has a few tax brackets each featuring its own tax rate from 10% to 35% (2009). These rates are added to your taxable income which is income a lot more your 'tax free' income.
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For my wife, she was paid $54,187, which she is not transfer pricing taxed on for Social Security or Healthcare. She's got to put 14.82% towards her pension by law, making her federal taxable earnings $46,157.
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