As defined in classic philosophy, an axiom is a statement that is so evident or well-established, that it is accepted without controversy or question. As used in modern logic, an axiom is simply a premise or starting point for reasoning.
Financial Planner. Iâm often asked if someone can take an income tax deduction for money they gift to their children. Gifts to individuals are not tax deductible. Tax deductions can only be taken for gifts to organizations on the IRS list of approved charities. However, there is a way to get a partial deduction for money that will eventually go to your children. A charitable lead annuity trust (CLAT) gifts money to a charity first, and then passes assets to your beneficiaries.
The family tax cut will allow couples with at least one child under the age of 18 to claim a non-refundable tax credit equal to the amount that would be realized by transferring up to $50,000 of taxable income from the higher-income to the lower-income spouse or common-law partner.his would be the marginal tax rate of an Alberta resident in 2014 with taxable income between $87,907 and $136,270. On a more positive note, lower-income parents who were previously unable to fully utilize the child amount because they were not taxable could benefit from the full enhancement of $720 per year.