Tax on Income Splitting – “kiddie tax”
Income splitting is the process of shifting income within a family to take advantage of the lower tax brackets, deductions and credits available to each family member. Anti-avoidance legislation was…
Income splitting is the process of shifting income within a family to take advantage of the lower tax brackets, deductions and credits available to each family member. Anti-avoidance legislation was…
Splitting Income with Minor Kids to Save Taxes One way to reduce your taxes is to split income with your family. This is one of the popular tax planning strategy.…