Surgent's Trump Accounts Created By OBBA: A Comprehensive Guide for Accounting and Finance Professionals

Overview

Many clients are asking their advisors about Trump Accounts, one of the most anticipated yet misunderstood provisions of the One Big Beautiful Bill Act (OBBBA). This program will provide practitioners with the background to be able to advise their clients regarding how Trump Accounts operate. The course will also discuss the comparison between Trump Accounts and other accounts, such as 529 Plans and Roth IRAs. In addition, coverage will be provided on how the pilot program will function to give $1,000 to newborns. 

Prerequisites

None

Objectives

• Expertly advise clients regarding the latest on Trump Accounts emanating from OBBBA

Highlights

• Establishing and administering a Trump Account
• Who can make contributions to a Trump Account
• Limits on contributions to a Trump Account
• Employer contributions to a Trump Account
• Participation in the pilot program
• What a Trump Account can invest in
• Basis tracking for after-tax contributions
• Taxation of distributions from a Trump Account
• Rolling a Trump Account into another account
• The potential advantages and disadvantages of having a Trump Account
• Opting out of a Trump Account
• Issues impacting a Trump Account, such as distribution, when the beneficiary turns 18