Understanding the New Trump Accounts
With the enactment of the One Big Beautiful Bill Act in July 2025, Congress introduced a new class of tax-advantaged savings vehicles for minors known as Trump accounts. Here’s a breakdown of the key features. What are they? Trump accounts are custodial savings and investment accounts that can be established for U.S. children under age […]
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Social Security and Medicare 2025 Trustees Reports: It’s Time to Address Funding Concerns
Each year, the Trustees of the Social Security and Medicare trust funds provide detailed reports to Congress that track the programs’ current financial condition and projected financial outlook. These reports have warned for years that the trust funds would be depleted in the not-too-distant future, and the most recent reports, released on June 18, 2025, […]
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Tax and Spending Bill Signed into Law
President Trump signed into law the One Big Beautiful Bill Act (OBBBA) on July 4, 2025, after months of deliberation in the House and Senate. The legislation includes multiple tax provisions that will guide individuals, business owners, and investors in planning their finances for many years to come. It makes permanent most of the 2017 […]
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Surprises May Be in Store for Online Shoppers in the Tariff Era
On April 2, 2025, President Trump issued an executive order eliminating the de minimis exemption for low-value imports from China, which previously allowed U.S. consumers to buy goods worth up to $800 directly from online marketplaces based outside of the United States without paying duties. Since the order took effect on May 2, some U.S. […]
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New Tax Legislation: What’s on the Table
The One Big Beautiful Bill Act H.R. 1, the One Big Beautiful Bill Act, narrowly passed the House of Representatives on May 22, 2025. The legislation is now being deliberated in the Senate, after the Senate Committee on Finance released its own version of proposed tax provisions on June 16, 2025. which is generally limited […]
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Interest Rates on Federal Student Loans Drop Slightly for2025-2026
Every May, interest rates on federal student loans are reset for the upcoming school year. The rates are calculated by combining the yield on the 10-year U.S. Treasury note with an additional fixed amount set by Congress. Based on this calculation, interest rates on federal student loans are set to decrease slightly for the 2025-2026 […]
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Moody’s Downgraded U.S. Debt: Does It Matter?
On Friday, May 16, 2025, Moody’s Ratings downgraded its rating on U.S. government long-term debt from its highest rating of Aaa to the next highest rating of Aa1. The move was particularly significant because Moody’s was the last of the Big Three credit rating agencies to maintain the triple-A rating for U.S. debt. S&P Global […]
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IRA Strategies During Uncertain Markets
Recent tariff-related market gyrations caught the attention of many wary investors, including IRA owners. Although markets (and the tariff situation) have stabilized a bit, the outlook remains uncertain. For this reason, you may want to keep two key points in mind: First, market dips create opportunities for Roth IRA conversions, and second, the timing of […]
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REAL ID Deadline Fast Approaching
After years of numerous delays, the REAL ID enforcement deadline is scheduled for May 7, 2025.1 What is a REAL ID? A REAL ID is a type of enhanced identification card that is signified by a star marking in the upper top portion of the card. The REAL ID Act, passed by Congress in 2005, […]
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Borrowers in Default on Federal Student Loans Face Imminent Collection Efforts
On April 21, 2025, the U.S. Department of Education announced that it will resume collections on defaulted federal student loans starting May 5, 2025. The federal government hasn’t collected on defaulted loans since March 2020. Here is some background followed by answers to questions about the new policy. A history of payment pauses and court […]
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