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Three Smart Levers to Cut Your 2025 Tax Bill

Taxes are inevitable, but overpaying them isn’t. With new rules and opportunities in 2025, smart planning can help you keep more of your hard-earned money. Here are three effective levers to reduce your tax liability this year: 1. Maximize Retirement Contributions Contributing to retirement accounts such as RRSPs (Canada) or 401(k)/IRAs (U.S.) remains one of the most effective ways to lower taxable income. Contributions qualify for tax relief at your highest marginal rate, meaning every dollar you save reduces your tax bill significantly. Employer-matching programs make this even more attractive, and withdrawals in retirement can be structured for lower tax exposure. 2. Leverage Tax Credits and Deductions Common deductions include childcare expenses, education costs, and home office claims. Tax credits, unlike deductions, directly reduce the amount you owe, making them especially valuable. Temporary tax breaks introduced in 2025 can be maximized before they expire. 3. Use...
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US Stocks Stall as Fed Decision Day Arrives

                                             

Wall Street is on edge today as the Federal Reserve prepares to announce its next interest rate decision at 2 p.m. ET. Investors and Main Street alike are closely watching Chair Jerome Powell’s press conference following the decision. The stakes are high, and caution prevails as the market awaits any potential shifts in the Fed’s stance. Here are the current points

  • The S&P 500 opened flat, fresh off an all-time closing high.
  • The Dow Jones Industrial Average dipped 0.2%.
  • The tech-heavy Nasdaq Composite gained 0.2%.

While no change in interest rates is expected this afternoon, all eyes are on the “dot plot.” Analysts suspect that recent hotter-than-expected inflation readings and signs of strength in the US economy could prompt policymakers to forecast rate cuts in 2024, up from the previous three. This uncertainty could weigh on stocks and impact the recent rally.

Bonds are also in focus. Yields on the 10-year Treasury were slightly lower at around 4.28%, after rising over 20 basis points in the past two weeks. The Fed’s statement could further influence bond yields.

On the corporate front, luxury group Kering (KER.PA) (PPRUY) issued a warning that sales at its biggest brand, Gucci, fell 20% in the first quarter, causing shares to slump as much as 15% in Paris.

As the Fed’s decision looms, investors are treading carefully. The market awaits clarity on the central bank’s outlook for the months ahead. Buckle up for a potentially bumpy ride as the dot plot takes center stage! 

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