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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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Ukraine and Russia Conduct Major Exchange of Wounded POWs Amid Ongoing Conflict


In a significant humanitarian effort, Ukraine and Russia have exchanged another group of severely wounded and ill prisoners of war. The exchange, which took place on June 12, follows agreements made during recent peace talks in Istanbul.

Ukrainian President Volodymyr Zelensky confirmed that all returning Ukrainian servicemen require medical treatment and will receive the necessary care. The swap included personnel from multiple branches of Ukraine’s military, including the Armed Forces, National Guard, and Border Guard Service. Some of the freed soldiers had been held in Russian captivity for over three years.

Russia’s Defense Ministry stated that its returning troops had crossed into Belarus and were receiving psychological and medical assistance. The exchange is part of a broader agreement that also includes the repatriation of fallen soldiers. On June 11, Ukraine recovered the bodies of 1,212 fallen defenders, while Russia received the remains of 27 soldiers.

This latest exchange marks the second phase of a larger prisoner swap initiative, with both sides continuing negotiations for future releases. While no political breakthrough has been achieved, the ongoing exchanges signal a potential path toward further humanitarian agreements between the two nations.

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