Weekly roundup
Hello readers! Here’s what’s happening this week in taxes and finance:
We’ve got the latest insights, practical tips, and updates to help you make smarter financial decisions and move closer to financial freedom. Whether you’re planning for year-end taxes, tracking your investments, or just staying informed, there’s something here for everyone.
Featured Tax Post
Trump Accounts
The IRS is introducing Trump Accounts, a new IRA for children born 2025–2028, aimed at helping families start retirement savings early. Eligible accounts receive a $1,000 government contribution, and parents, relatives, or employers can contribute up to $5,000 per year. Funds are invested in broad U.S. stock market options, and withdrawals generally begin at age 18 when the account converts to a traditional IRA, offering a structured path to long-term savings.
Featured Finance Post
Long Term Care Insurance
Long-term care insurance helps protect your retirement savings and provides a dedicated source of funds for in-home care, assisted living, or nursing facilities. By covering a significant financial risk, it can reduce the burden on family members and offer greater flexibility in care choices. Understanding policy features and timing can help you integrate coverage into a broader strategy for long-term financial stability.
Tax Tips You Can’t Miss:
Use Catch-Up Contributions – If you’re 50+, take advantage of higher contribution limits for IRAs and 401(k)s.
Check Flexible Spending Accounts (FSA) – Use leftover FSA funds on eligible medical expenses to avoid forfeiture.
Defer or Accelerate Income – Strategically manage bonuses or self-employment income to optimize your tax bracket.
Money Moves You Need to Know:
Emergency Fund – Save 3–6 months of expenses for unexpected events.
Automate Savings – Set it and forget it to build wealth consistently.
Review Subscriptions – Cancel unused services to save money.
Final Thoughts
That’s a wrap for this week! Remember, small, consistent steps in managing your taxes, finances, and investments can have a big impact over time. The content here is for informational and opinion purposes only—not tax, legal, or financial advice. Always consult a professional for advice specific to your situation. Stay informed, take action, and keep moving closer to financial freedom.
Have questions or topics you want us to cover? Hit reply — we’d love to hear from you!
Stay savvy, stay empowered,
— The TaxFi Solutions Team