Converting Income

Converting Income - adjusting a Fnancial transaction so...

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Converting Income from One Type to Another * The income tax system recognizes 5 general types of income, of which 4 have substantial application - employment income, business income, property (investment) income, and capital gains * The amount of tax and the timing of its payment can be altered by
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Unformatted text preview: adjusting a Fnancial transaction so that it generates one type of income instead of another * It is not simple to convert one type of income to another * In most cases, converting income also involves shifting that income from one entity to another...
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