Posts by Cindy Becker, CPA, MST

Families now have more than one tax-favored way to save for a child’s future. For many years, Section 529 qualified tuition plans have been the primary tax-advantaged vehicle for education savings. Beginning under the 2025 legislation, Congress also created Section 530A “Trump accounts,” a new IRA-like savings account for eligible children.  Although both accounts can help families invest for minors, they are designed for different…

If you only do deep tax housekeeping once a year, make it now. With new 2025 rules, several “sunsets” that were expected for 2026 were reshaped by the One Big Beautiful Bill Act (OBBBA), and inflation-indexed thresholds, smart moves before December 31 can meaningfully lower what you owe next spring and set you up for…

Investing in a retirement account for your child might sound crazy, but it’s a powerful way to invest in your child’s future while building generational wealth. Children of any age can contribute to an Individual Retirement Account (IRA) provided they have earned income. This approach is particularly common among business owners who employ their children,…