A New Savings Opportunity for Kids
There’s a new kid-focused savings option on the horizon called the Trump Account, and while it’s not available just yet, there’s an important timing detail parents need to know.
📅 First things first — timing matters: Trump Accounts officially roll out on July 5, 2026
BUT…
➡️ You must elect to open the account when you file your 2025 tax return for any eligible children.
Yes — that’s a “do it now for later” situation. Classic tax planning. 😉
👧👦 Who is this for?
These accounts are designed for eligible children (born between January 1, 2025 and December 31, 2028) and are intended to help families start saving early for their future.
📝 Why your CPA is waving a tiny red flag 🚩:
This election will likely be made on your 2025 tax return, not when the account actually opens in 2026. If you miss it when filing, you may miss the 2026 opportunity.
📌 CPA Pro Tip:
When you’re gathering tax documents next year, make sure you let your tax preparer know:
- You have eligible children, and
- You want to elect the Trump Account when filing your 2025 taxes
- If your child is born after 2025- you will state eligibility in the year they are born!
We’ll handle the forms — you just need to raise your hand. 🙋♀️
As always, details may evolve as IRS guidance is released, but awareness now = smarter planning later.
Check out trumpaccounts.gov for updated information!
Questions? Your trusted CPA has you covered 😊
