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A credit is allowed for foreign income taxes paid or accrued. The credit is limited to that particular part of U.S. tax due to foreign source income. It is not refundable, but any excess credit become carried to other years …
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S is for SPLIT. Income splitting is a strategy that involves transferring a portion of income from someone who’s in a high tax bracket to a person who is from a lower tax range. It may even be possible to …
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