Filing taxes is personality and complex process start with for most of us. Making errors will happen from time for time, nevertheless the one thing you would not want to do is understate the income you en. Underreporting earnings is one way to get the IRS hopping mad. Estimate your gross pay. Monitor the tax write-offs that you may well be able to claim. Since many of them are based upon your income it great to prepare. Be sure to review your wages forecast for the last part of the year to se...

S is for SPLIT. Income splitting is a strategy that involves transferring a portion of income from someone who is in a high tax bracket to someone who is in a lower tax area. It may even be possible to lessen tax on the transferred income to zero if this person, doesn't have 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 possible to transfer income to a person in a lower tax bracket, it must be d...