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A new tax-advantaged investment account officially launched on July 4th: the 530A account, also known as a Trump Account, which is designed to help children get a head start on their financial future.
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New tax rules will determine the deductibility of donations in 2026 for better or worse, which means taxpayers may want to rethink the timing and amount of their donations for 2025 and beyond.
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According to this year’s Trustees report, Social Security recipients might face a benefit cut in 2034 unless Congress acts soon to strengthen the program.