The One Big Beautiful Bill Act (OBBBA) introduced a new savings vehicle aimed at helping families build long-term financial security for their children: the “Trump Account.” While the name may draw attention, what matters more is how these accounts function and how they might fit into your financial strategy once they are made available. What…
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One of President Trump’s campaign promises during the 2024 election cycle was to eliminate taxes on Social Security benefits. While the One Big Beautiful Bill Act (OBBB) doesn’t go that far, it includes a related provision intended to fulfill that promise in a different form: a new age-based deduction for seniors. Like the proposed exclusions…
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Earlier this year, the IRS provided long-awaited guidance related to the SECURE Act of 2019 on the treatment of retirement accounts inherited after December 31, 2019. The rules are complex, and we strongly encourage anyone who has inherited an IRA to work with their financial advisor or tax professional to understand their options. This article…
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