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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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Transatlantic Trade Tensions Escalate Amid Tariff Dispute


The European Union (EU) has swiftly responded to former U.S. President Donald Trump's decision to impose a 25% tariff on steel and aluminum imports. In a move aimed at countering the economic impact, the EU announced retaliatory tariffs on $28 billion worth of U.S. goods. These measures target a range of products, including agricultural goods, textiles, and iconic American items like bourbon and motorcycles.

European Commission President Ursula von der Leyen expressed regret over the U.S. tariffs, emphasizing their negative impact on businesses and consumers on both sides of the Atlantic. She described the EU's countermeasures as "proportionate" and reiterated the bloc's openness to negotiation.

This latest development marks a significant strain in transatlantic relations, with both sides facing economic uncertainty and potential disruptions to supply chains. The EU's actions highlight its determination to protect its economic interests while signaling a willingness to engage in dialogue to resolve the dispute.


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