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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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Navigating Global Challenges: The Importance of the G7 Kananaskis Summit

 


The G7 Kananaskis Summit is a crucial gathering of world leaders from Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States. This year's summit, marking the 50th G7 meeting, provides an opportunity for these nations to address pressing global challenges, including trade disputes, AI governance, and geopolitical tensions with China and Russia.  

Historically, the G7 was established to foster economic cooperation among major industrialized nations, particularly in response to crises like the 1973 OPEC oil embargo and the collapse of the Bretton Woods monetary system. Over time, its scope has expanded to include security, climate change, and technological advancements.  

At the Kananaskis Summit, leaders are expected to discuss lowering the price cap on Russian oil, a move that could signal increased pressure on President Vladimir Putin. Additionally, the summit serves as a platform for strengthening alliances and shaping policies that impact global stability.  

While some question the relevance of the G7 in today's shifting global order, the summit remains a key forum for reducing friction, forging common understandings, and setting the direction for international cooperation.  



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