Wealthy clients might want to shift some income to family members

07/14/2010 | Financial-Planning.com

Income tax rates, which are at a relatively low level, are expected to increase, with those with the highest income taking the brunt of the change. If so, advisers should talk to wealthy clients about possibly shifting some of their income to parents, children or other family members who are in a lower tax bracket. Affluent people can do this buy hiring family members or transferring assets to them.

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