Effective in 2026, Trump accounts are a new savings vehicle under IRC Section 530A. In this episode of Brainfood Bytes, Mary Kay Foss, CPA, breaks down how they work, who qualifies and what tax professionals need to know before advising clients—covering eligibility, contributions and key tax implications.
Additional resources
Video Trump Accounts: Tax Advantages and Eligibility Explained
Stay up to date with new episodes by subscribing to our channel and newsletter for convenient video updates and informative supplemental resources.
Corporate giving rules are changing. Nisha Golcha of GHJ explains how the One Big Beautiful Bill impacts corporate charitable deductions, including the new 1% floor effective in 2026.
New U.S. GAAP requirements are changing expense reporting. Manish Rathi of EY explains what ASU 2024-03 means for CPAs, including income statement disaggregation and how it improves transparency and performance insights.
California has enacted SB 711, the Omnibus Conformity Bill, modernizing the state’s tax system. Gina Rodriguez of Ryan LLC explains what the new conformity date and alignment with federal provisions mean for CPAs and tax professionals.
What topics would you like us to cover? What questions do you have? Let us know!