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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 Pushes for Major Prisoner Swap With Russia

 

Ukraine has announced efforts to resume prisoner exchanges with Russia, aiming to secure the release of 1,200 Ukrainian captives. President Volodymyr Zelenskyy confirmed that negotiations are underway, with mediation provided by Turkey and the United Arab Emirates. The talks are based on the Istanbul agreements, which previously facilitated prisoner swaps between the two nations.

Rustem Umerov, Secretary of Ukraine’s National Security and Defense Council, stated that recent consultations have led to an agreement to activate the arrangements. Technical discussions are expected to finalize the details, with Kyiv hoping to bring prisoners home by the winter holidays.

The announcement comes amid ongoing Russian drone strikes targeting Ukraine’s energy infrastructure, underscoring the urgency of humanitarian measures alongside military conflict. Zelenskyy emphasized that “many meetings, negotiations and calls” are taking place to ensure the exchange, highlighting the government’s determination to reunite families torn apart by the war.

If successful, this would mark one of the largest prisoner swaps since the start of the conflict, offering relief to hundreds of families awaiting the return of loved ones.


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