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Top lavoixdusud.com News

Taxes · Lac-Etchemin

What is income splitting? And how can it reduce your tax? - Voice of the South

Another important benefit for couples is income splitting, which involves subtracting a portion of the income of the most-earner spouse and adding it to the income of the least-earner. This reduces the overall tax liability of the couple (it is not advantageous if the spouses receive similar income). For working couples, there are several indirect income splitting strategies to reduce the tax bill (it is not permitted to transfer work income dir…Read Article

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