Guides

Who qualifies, how much you get and how to claim it, with links to the law.

• Canada's first-time home buyer GST rebate: up to $50,000 back

  First-time buyers of a new home in Canada can get back up to $50,000 of GST. See who qualifies, how the rebate drops between $1 million and $1.5 million and how to apply.

• Car loan interest deduction: rules for new US-built vehicles

  Deduct up to $10,000 a year of interest on a loan for a new vehicle assembled in the US, 2025 to 2028. See which cars qualify, the phase-out and how to claim it.

• Form 4547: how to open a Trump account and claim the $1,000

  Form 4547 is the IRS election that opens a Trump account for a child and claims the $1,000 pilot deposit. See who can file it, how to fill out each part and when to send it.

• How to apply for the first-time home buyer GST rebate (CRA)

  Step-by-step: how to claim the CRA first-time home buyers GST/HST rebate through your builder or on your own, which forms to use, the 2-year deadline and the Ontario top-up.

• No tax on overtime: the premium-pay deduction explained

  From 2025 to 2028 you can deduct the extra half of overtime pay, up to $12,500 or $25,000 joint. See what counts, the phase-out and how to claim it.

• No tax on tips and overtime by state: does your state follow?

  The federal no tax on tips and overtime deductions do not apply to state income tax automatically. See which states have no wage tax, which have their own deduction and which tax tips and overtime in full.

• No tax on tips: who qualifies and how to claim it

  The new federal deduction for tips covers up to $25,000 a year from 2025 to 2028. See who qualifies, how the income phase-out works and how to claim it.

• RAP student loans: the new plan explained

  The Repayment Assistance Plan (RAP) opens July 1, 2026. See how the payment is set from your AGI, the $10 minimum, the interest waiver and the principal match.

• RAP vs IBR: which student loan plan costs less?

  RAP and IBR are the two income-driven student loan plans left after 2028. Compare how payments are set, interest, forgiveness timelines and who can use each plan.

• Schedule 1-A: the new IRS form for tips, overtime, car loan and senior deductions

  Schedule 1-A is the IRS form for the four new deductions: no tax on tips, no tax on overtime, car loan interest and the senior deduction. See what each part asks, the limits and how to file.

• The $6,000 senior deduction: who gets it and how much

  People aged 65 or older can deduct an extra $6,000 each from 2025 to 2028. See the income phase-out, how it adds to the standard deduction and how to claim it.

• The SAVE plan is ending: what to do with your student loans

  The SAVE student loan plan ended by court order in 2026. See what happens if you do nothing, which plans you can move to and how to compare RAP, IBR and the standard plan.

• Trump accounts: the $1,000 pilot and the rules

  A plain-English guide to Trump accounts for children: the $1,000 government deposit for babies born 2025 to 2028, the $5,000 yearly limit and when money can come out.