QuickTips Index

Year End Tax Tips
Here's a list of simple tax moves you can do before the end of the year to keep your income taxes as low as possible.

US Withholding for Canadian Independent Contractors
Canadian citizens who have income from US sources should fill out Form W-8BEN to claim a reduce amount of income tax withholding. Find out how to qualify for benefits under the US-Canada Tax Treaty and how to fill out Form W-8BEN.

Filing Your Taxes for the First Time
Preparing your first tax return is empowering and rewarding. Plus, filing your taxes isn't hard. It just takes patience to make sure you've followed all the instructions. Plus some practical tips for preparing your first return confidently and accurately.

Sale of Your Home
How to calculate capital gains taxes on the sale of a main home. Plus tips for lowering your capital gains using the Section 121 capital gains exclusion when selling your principal residence.

Tax Planning Strategies for Retirees
Retirees and those planning to retire in the near future will want to plan ahead to keep their taxes as low as possible. Here are some basic information for understanding how retirement income is taxed and strategies for keeping your taxes at a minimum.

Sales Tax Holidays
Sales tax holidays help you save money on back-to-school purposes. Find details on the sales tax holidays in fifteen states across America.

Getting Married and Taxes
Dear Tax Guide, I’ve often noticed that the married amounts for various deductions are quite often substantially less than double the single amount. Can you explain why? Tax reforms and the "marriage penalty," plus tips for reducing your taxes.

Tax Deduction for Sending Money to a Prisoner?
Dear Tax Guide, Can I take a tax deduction for the money I send to my son in prison? You cannot take a tax deduction for money spent on your son. But if your son lived with you for more than 6 months of the year before being incarcerated, you may be eligible to claim him as a dependent.

Question Regarding Medical Expenses
Can laser eye surgery be deducted as a medical expense for tax purposes? Yes, but find out how itemized deduction fit into your overall tax strategy.

Question Regarding Back Taxes
How many years back can you file your income tax return when the government owes you? Generally, you have 3 years to file a tax return and claim a refund.

Withholding and Self-Employment
Can I increase my withholding at my day job to cover additional taxes from my self-employment gigs? Yes, you can. Here's how to calculate how much you should withhold.