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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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Your lookahead horoscope: November 16, 2025

 

IF TODAY IS YOUR BIRTHDAY

You will attract your share of good fortune over the coming year but to make the most of it you must be adventurous. Others can sit back and take things easy if they so wish but you need to be out there bending life to your special design.

ARIES (March 21 - April 20):

News that arrives out of the blue will cheer you up during the early part of the week but you will still have serious matters to take care of, so it’s not an invitation to ignore what needs to be done. Sort out your money situation.

TAURUS (April 21 - May 21):

You may think you know better than the people you work with, and maybe you do, but that won’t convince them to follow your lead. Which raises the question: Why would you want them to follow your lead? Let them make their own choices.

GEMINI (May 22 - June 21):

Everyone wants to do things for you of late, which is nice, but the planets warn you must not pass on your responsibilities to other people. Even if you do get outside help it’s highly unlikely they will make as good a job of it as you.

CANCER (June 22 - July 23):

Your creative juices are flowing fast, so decide what it is you want to be working on and then go for it with 100 per cent effort. Don’t listen to people who say you cannot hope to succeed, because in fact you cannot fail to succeed.

LEO (July 24 - Aug. 23):

Any lingering disputes or disagreements you may have with friends and loved ones must be faced during the early part of the week. If you are serious about finding solutions that everyone benefits from it won’t be hard to locate them.

VIRGO (Aug. 24 - Sept. 23):

Don’t waste time lamenting what might have been and looking back and wondering what you could have done better. The past is over and done with and now you must fix your sights on future successes, of which there will be many.

LIBRA (Sept. 24 - Oct. 23):

If you need to close a deal of some kind then it should be easy right at the start of the week, but the longer you let it drag the harder it will be to persuade others to play ball. Do your research today, then make it happen tomorrow.

SCORPIO (Oct. 24 - Nov. 22):

The sun remains in your sign only until the 22nd, so if you are behind in your schedule then you need to catch up fast. Focus only on matters that are of prime importance over the next few days – issues of a personal nature can wait.

SAGITTARIUS (Nov. 23 - Dec. 21):

Your feelings will be of more importance than your thoughts as the new week begins, so listen to what your heart is telling you and act on that information quickly. Do NOT listen to people who say you are being overly dramatic.

CAPRICORN (Dec. 22 - Jan. 20):

You may have some wonderful friends and colleagues but what you aim to do next must be done on your own. Focus on your No. 1 goal and go for it with every ounce of mental and emotional strength you possess. Make it happen.

AQUARIUS (Jan. 21 - Feb. 19):

What occurs over the next day or two will alert you to the fact that your efforts in one particular area have fallen short of what you should be expecting of yourself. It’s not too late to make amends, so refocus and go at it again.

PISCES (Feb. 20 - Mar. 20):

Don’t worry if life seems tough at the moment because relief is at hand. Impending cosmic activity will remind you that the most important part of your existence is having fun. If what you are doing does not excite you then do something different.

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