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Trump–Powell Showdown Intensifies as White House Floats Criminal Charges

                                                       Donald Trump and Federal Reserve Chair Jerome Powell A dramatic escalation in the long‑running tension between President Donald Trump and Federal Reserve Chair Jerome Powell has thrust the independence of the U.S. central bank into the spotlight. The conflict deepened after Powell disclosed that the Department of Justice had issued grand jury subpoenas to the Federal Reserve—an action he suggested was politically motivated. The inquiry centers on Powell’s congressional testimony about cost overruns tied to a Federal Reserve building renovation. Powell has dismissed the investigation as a pretext, arguing that the administration’s real aim is to pressure the Fed into cutting interest rates more aggressively, a move Trump has repeatedly demanded. The threat of potential...
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Tax-Savvy Strategies: Maximizing Your CRA Returns

                                         

    
As the tax season looms, Canadians are reminded of the April 30 deadline for filing and payment to avoid penalties from the Canada Revenue Agency (CRA). To ensure a smooth tax experience and potentially increase your returns, here are some key strategies:

  1. RRSP Contributions: Ensure you report any contributions made to your Registered Retirement Savings Plan (RRSP) within the first 60 days of the year to qualify for a tax refund.

  2. First Home Savings Account: Take advantage of the new First Home Savings Account (FHSA) for tax-deductible contributions and tax-free withdrawals for your first home’s down payment.

  3. Medical Expense Tax Credit: Families can claim the non-refundable medical expense tax credit if their total medical expenses exceed the lesser of $2,635 or 3% of net income.

  4. Home Office Expenses: Remote workers can claim home office expenses, though the flat-rate method is no longer available; detailed tracking is required.

By mastering these tax changes and utilizing accounts like the TFSA, Canadians can lighten their tax burden and keep more money in their pockets. Remember, early preparation is key to a stress-free tax season.


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