Articles
What are Trump child accounts?
Trump Accounts are a brand-new type of tax-advantaged savings account for children under age 18, created under the One Big Beautiful Bill Act signed into law on July 4, 2025. Think of them as "starter IRAs" designed to give American children a head s...
How Trump accounts work – the complete mechanics
Trump Accounts represent one of the most significant changes to family tax planning in decades. These government-backed savings accounts combine elements of traditional retirement accounts with unique rules designed to build long-term wealth for the next generation. If you're wondering how to open a Trump account for your newborn or how...
Form 1099-A: Acquisition or Abandonment of Secured Property explained
IRS Form 1099-A is a notice from your lender that they took back your property (like a home or car) through foreclosure or repossession, or that they believe you abandoned it. It shows the date this happened, how much you still owed, and the property’s estimated value - information you may need to figure out any tax gain or loss. ...
Impact of MAGI on US Expats' eligibility for tax saving provisions
Multiple tax-saving provisions included in One Big, Beautiful Bill are expected to save taxpayers thousands of dollars each filing season. Almost all of those provisions are limited by the taxpayers’ ...
What concerns of US expats does the One Big Beautiful Bill Act not address?
Based on the One Big Beautiful Bill Act (OBBBA) signed into law on July 4, 2025, here are the key issues that the legislation does NOT address: Fundamental expat tax system issues ...
OBBBA tax benefits – non-resident aliens disparity problem
The One Big Beautiful Bill Act (OBBBA) creates an unintended two-tier benefits system where employees performing identical work receive vastly different tax treatment based solely on their immigration status and tax identification doc...