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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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Crete Wildfire Forces Mass Evacuations as Greece Battles Blazes Amid Heatwave

For the third consecutive day, firefighters in Greece have been battling a fierce wildfire on the southern coast of Crete, near the town of Ierapetra. The blaze, fueled by scorching temperatures and gale-force winds, has scorched forests and farmland, damaged homes, and forced the evacuation of over 5,000 people, including tourists, hotel staff, and local residents.

The fire broke out on Wednesday and quickly spread across rugged terrain, driven by winds reaching up to 9 on the Beaufort scale. Emergency crews, including over 200 firefighter, helicopters, and drones, have been working around the clock to contain the flames. Displaced tourists were relocated to nearby hotels or sheltered in an indoor basketball arena.

While no fatalities have been reported in Greece, the situation remains precarious. Authorities remain on high alert as hot, dry conditions persist, and flare-ups continue to threaten containment efforts. The wildfire has also disrupted ferry services and caused power outages in affected areas.

This crisis comes amid a broader regional emergency, with neighboring Turkey also battling deadly wildfires and extreme heat. Experts warn that climate change is intensifying the frequency and severity of such blazes across the Mediterranean.

As the flames slowly retreat, local officials are assessing the damage and bracing for continued challenges in the days ahead.

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