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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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The Race to Replace Justin Trudeau: Top Contenders for Liberal Leadership

With Justin Trudeau stepping down as the leader of the Liberal Party, the race to find his successor is heating up. Here are some of the top contenders vying for the position:

Chrystia Freeland: The former finance minister and deputy prime minister, Freeland has been a prominent figure in Trudeau's cabinet. Her resignation from the cabinet in December 2024 triggered a wave of calls for Trudeau's resignation. Freeland's experience and leadership skills make her a strong candidate for the top job.

Mark Carney: The former governor of the Bank of Canada and the Bank of England, Carney has a strong economic background and has been serving as a special adviser to Trudeau. His expertise in finance and climate action makes him a formidable contender for the Liberal leadership.

Anita Anand: A lawyer and politician, Anand entered the political scene in 2019 and has been a rising star in the Liberal caucus. Her ambition and dedication to public service have positioned her as a potential successor to Trudeau.

The Liberal Party is expected to hold a leadership election in 2025 to choose Trudeau's successor. As the race unfolds, these candidates will be making their pitches to party members and the public, highlighting their vision for the future of Canada.



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