Strube CPA PC

Trump Accounts, yay or nay?

See my detailed write-up here: https://strubecpa.com/trump-accounts-yay-or-nay/

TLDR: I'm generally a fan. What I really like is the trifecta 1) that these would not create a *federal* income tax filing requirement for minor children, 2) that there is no earned income requirement to contribute, and 3) that there are no restrictions on how the funds can be used.

Trump Accounts fit in that space that none of the other current options for kid accounts offer.

So I’ve opened them for my kids. TBD on how much, if anything, I’ll deposit. You can do the same either through filing Form 4547 with your tax returns or by going to the website linked in my blog post above.

Photo credit: Taylor Davidson Photography