Declaring Bankruptcy When Will Owe Irs Tax Arrears: Difference between revisions

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Created page with "<br>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 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 person is either your spouse or common-law spouse, but it can also be your children. Whenever it is possible to transfer income to a person..."
 
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