Question

The assignment of income doctrine most likely limits which of the following strategies?

1) Conversion
2) Timing
3) Income shifting
4) Tax minimizing
5) None of the above

Answer 1

The assignment of income doctrine most likely limits income shifting strategies.

Step-by-step explanation:

The assignment of income doctrine most likely limits income shifting strategies. The assignment of income doctrine is a principle in tax law that prevents taxpayers from avoiding taxes by transferring or assigning their income to another person or entity. This doctrine ensures that individuals are taxed on the income they earn, regardless of whether they transfer or assign it to someone else.