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101 Tax Secrets For Canadians: Smart Strategies That Can Save You Thousands, 2nd, Revised and Updated Edition



101 Tax Secrets For Canadians: Smart Strategies That Can Save You Thousands, 2nd, Revised and Updated Edition

Tim Cestnick

ISBN: 978-0-470-67881-7 July 2010 368 Pages


Nothing can better protect hard-earned income and help to accumulate wealth than savvy tax strategies. In this comprehensive guide, Canada's foremost tax expert, Tim Cestnick, offers 101 tips for year-round tax planning that can save Canadians from all walks of life thousands of dollars on their tax bill. It shows readers how they can best build a successful game plan that will reduce their taxes and maximize after-tax investment returns. Cestnick's simple and proven advice makes 101 Tax Secrets for Canadians an essential tool for all Canadians seeking to accumulate wealth and protect their income.

Tax Planning Tip Sheet,

Foreword: Stepping Up to the Plate.

Changes Making the Headlines.

Chapter 1: Pre-Game Warm-Up: The Basics of Tax Planning.

Playing by the Rules.

Knowing the Numbers Game.

Timing Your Taxes.

Fighting When You’re Right.

Chapter 2: Home Team Advantage: Tax Planning for the Family.

Splitting Family Income.

Educating the Family.

Heading for Home.

Claiming Family Care Costs.

Surviving Separation and Divorce.

Chapter 3: Signing with the Team: Strategies for Employees.

Optimizing Employment Benefits.

Claiming Employment Deductions.

Driving Automobiles on the Job.

Deferring Compensation.

Calling It Quits.

Chapter 4: Becoming a Free Agent: Strategies for Self-Employment.

Jumping on the Bandwagon.

Choosing Your Business Structure.

Claiming Business Deductions.

Adding Up the Tax Hits.

Chapter 5: Bulls, Bears, and Baseball: Strategies for Investors.

Investing in a Tax-Smart Manner.

Understanding Tax-Smart Strategies.

Sheltering Income with Life Insurance.

Borrowing to Invest: Leveraging.

Chapter 6: Earning the Gold Glove: Strategies for Retirement.

Understanding RRSP Basics.

Contributing to Your RRSP.

Withdrawing from Your RRSP.

Benefiting from RRIFs and Annuities.

Understanding Registered Pension Plans.

Chapter 7: American League Rules: United States' Connections.

Reporting Your U.S. Income.

Profiting from U.S. Real Estate.

Cutting Your Gambling Losses.

Staying Canadian.

Considering U.S. Estate Taxes.

Chapter 8: A League of Their Own: Provincial Tax Issues.

Walking to a Different Drummer.

Chapter 9: Bottom of the Ninth: Planning for Your Estate.

Knowing What to Expect.

Giving It Away Today.

Giving It Away at Death.

Providing Tax-Free Death Benefits.

Planning for U.S. Estate Taxes.

Glossary of Abbreviations.

Tax Facts.

Marginal Tax Rates for 2009.

Federal Personal Tax Rates for 2009.

Provincial Personal Tax Rates for 2009.

Federal Personal Tax Credits for 2009.

Additional Federal Tax Credits.

Canada Pension Plan Contributions 2009.

Employment Insurance Premiums 2009.


Old Age Security Benefits.

Canada Pension Plan Benefits.

RRSP Contribution Limits.

Minimum Annual RRIF Withdrawals.