The Federal Depositors Insurance Corporation, or FDIC, is an independent U.S. government entity tasked with insuring deposits at member banks. Created in 1933 during the Great Depression, the FDIC still serves a valuable role in the modern economy. Most people are familiar with the “baseline” $250,000 insurance for an individual checking or savings account. However, […]
Trump Accounts: how, what, when & why?
What is a 530A “Trump account”? 530A plans, also referred to as “Trump accounts” or “TAs,” are essentially tax-advantaged IRAs for children. An authorized individual can open a 530A plan on behalf of a minor beneficiary by filing a Form 4547 or by visiting trumpaccounts.gov. Contributions to TAs can begin on July 4, 2026. Initially, […]
Your Income Now Dictates Where You Can Invest Catch-Up Contributions
Employees who are over 50 years of age and earning more than $145,000 in prior-year FICA wages will be required to direct their catch-up contributions ($8,000 in 2026) to their Roth 401(k), 403(b), etc. The standard $24,500 contribution (available to plan participants of any age) can still be deposited into either the pre-tax or the […]
