08/25/2026
🚨 Parents, here’s what you need to know about Trump Accounts! 💰🇺🇸
Trump Accounts are new tax-advantaged investment accounts designed to help children begin building wealth at an early age. Any eligible child under 18 can have an account opened for them, and eligible U.S. citizen children born between January 1, 2025, and December 31, 2028, may receive a one-time $1,000 contribution from the federal government.
Parents, relatives and other eligible contributors can add money to the account, with total annual contributions generally limited to $5,000. Employers may also contribute up to $2,500 for an employee or their dependent, which counts toward that annual limit.
The money is invested in qualifying funds that track the U.S. stock market, allowing it the opportunity to grow over time. Funds generally cannot be withdrawn before the year the child turns 18. After that, the account is treated similarly to a traditional IRA, meaning withdrawals may be taxable and an additional 10% penalty may apply to early withdrawals. Certain exceptions may be available for expenses such as higher education or a first-time home purchase.
In this video, Deanna breaks down how Trump Accounts work, who qualifies and what families should understand before opening one.
Want to learn more about Trump Accounts and planning for your family’s financial future? Comment “GROWTH” below! 📈
Individual eligibility and tax treatment may vary. Contact Tax & Relax for guidance based on your situation.
☎️ 718-648-6018
💻 taxandrelaxinc.com
