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Trump Proposes Closing Department of Education via Executive Action

                                     In a bold move, U.S. President Donald Trump has announced his intention to dismantle the Department of Education through executive action. Trump, who has long criticized the federal government's role in education, believes that states should have more control over their schools. During a press conference in the Oval Office, Trump stated, "We spend more per pupil than any other country in the world, and we’re ranked at the bottom of the list. What I want to do is let the states run schools." Despite acknowledging that an executive order would face significant challenges, Trump expressed his preference for working with Congress and teachers' unions to achieve this goal. The proposed dismantling of the Department of Education has sparked a debate about the future of federal involvement in education. Critics argue that eliminating the depart...
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Maximizing Your TFSA: Year-End Maintenance Tips

As the end of the year approaches, it's crucial to take some time to review and maintain your Tax-Free Savings Account (TFSA). Regular maintenance ensures you're making the most of the benefits offered by this versatile investment vehicle. Here are a few key steps to consider before the year wraps up:


1. Review Your Contributions

Check your contribution limit for the year and ensure you haven't exceeded it. Over-contributing can result in penalties from the Canada Revenue Agency (CRA). If you have unused contribution room, consider making additional contributions to maximize your tax-free growth .

2. Assess Your Investment Portfolio

Take a look at the investments within your TFSA. Are they aligned with your financial goals? Diversifying your investments can help manage risk and enhance potential returns. Consult with a financial advisor if needed to make informed decisions .

3. Monitor Withdrawals and Transfers

Remember that any withdrawals made this year will create equivalent contribution room for the following year. If you plan to make withdrawals, strategize to optimize your tax-free growth. Additionally, consider if you need to transfer funds between accounts or make other adjustments .

4. Stay Informed About New Rules and Limits

Tax laws and contribution limits can change. Keep yourself updated with the latest TFSA rules and contribution limits to ensure compliance and take full advantage of the account’s benefits.

5. Plan for the Future

Think ahead to your financial goals for the upcoming year. Setting clear objectives for your TFSA can help you stay on track and maximize your savings.


Conclusion

Regular TFSA maintenance is essential to maximize the benefits of this powerful savings tool. By reviewing your contributions, assessing your investments, monitoring withdrawals, staying informed, and planning for the future, you can make the most of your TFSA and secure your financial future.



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