Hi Jay. Before you're going to have any luck at all with keeping your inverts alive, you're going to have to first get your nitrates under control. Fish can tolerate higher nitrate levels but many inverts, anemones, etc. cannot. That should be your first order of business.
Now, you've been running your canister filter for some time now. It's probably a hold-over principle that you've carried over from your freshwater days. While you may find it has some application in saltwater, it probably has less value than you think. If allowed to "go biological," that is, if it's allowed to harbor enough bacteria for it to become a significant aerobic processing point for ammonia and nitrites, it can be detrimental in two ways: First, it can become a source of nitrates in your open water column. Second, it will compete with your live rock and live sand for both ammonia and nitrites, thereby reducing the capacity of those parts of your biological filter.
This wouldn't be so bad if your (now biological) canister filter could also harbor the anaerobic bacteria that could process nitrates into nitrogen gas, but it can't. In the case of live rock and live sand, these anaerobic bacteria live in relatively close proximity to the aerobic bacteria which live closer to the water column. (You see, these anaerobes live deep in the sandbed and below the surface of your live rock.) Thus, they have the advantage of location to reduce nitrates before it builds up in the water column. In the case of a gone-biological canister filter, the nitrates are exported to the water column to be processed in other places (your live rock and sand). Unfortunately, because of the competition with the bacteria in the canister filter, the bacterial resources in those other areas will be less developed and capable of less processing than you have available.
Now, from what I've read, you have a fundamental problem with nitrates likely coming from two sources. Your source water and, probably, your canister filter. You need to deal with both.
First, I concur with the recommendation that you get an RO/DI system. A good one, with replaceable elements can be found for $200-$300. This will go a long way to not only dealing with the nitrates, but also the other crap that's typically in our municipal water sources.
Second, you should reconsider how you're using your canister filter. At the very least, you might consider cleaning it more frequently and maybe running it less frequently (just to remove particulates in the water column). If you're not doing this now, monitor your ammonia levels as you begin your maintenance regimen and allow your biological filtration in your rock and sand develop to take up the load that was once taken up by your filter.
In addition to the biological filtration, you're going to want a decent skimmer to pull the organics and other waste products out of your water column. What skimmer do you have now? An AquaC Remora Pro might do OK with your 55 gallon setup - it really depends on your bioload. An Aquamedic Turboflotor 1000 Multi SL might also work (since it can be adapted as a hang-over-top skimmer) well (though the pump is kind of large for an in-the-tank application). Really, though, you'll have more options available to you if you had a sump.
Finally, your lighting is a bit low for most anemones that rely on photosynthesis for some of their nutrition and certain corals, too. Not to fret, though. There are a lot of very attractive softies that are just perfect for your setup (and your electricity bills will be lower, too).
So, plan accordingly. Understand what kind of life is compatible with the equipment you have and the conditions you can provide. This is key to doing well and not getting discouraged. Welcome and good luck to you.
(BTW, Paletta's book that BoomerD has recommended is a good one to have on the shelf. It will also get you started on a more thoughtful selection of livestock in addition to setting up and maintaining your system.)