Tax Updates

TRUMP ACCOUNTS

Trump Accounts: New guidance

5/13/2026 UPDATE

The U.S. Treasury issued new guidance on Trump Accounts (530A), clarifying eligibility and contribution rules. Contributions may not begin until July 2026, though eligible individuals can open accounts now. More details are expected this July.

"Trump Accounts" are 530A IRA tax-advantaged, child-focused investment accounts established by the 2025 "One Big Beautiful Bill Act," offering a $1,000 government-funded seed deposit for children born between 2025 and 2028. Designed for long-term growth, these accounts allow up to $5,000 in annual family contributions, are invested in stock index funds, and can be opened for any U.S. citizen child under 18.

CLICK HERE FOR MORE INFORMATION ON TRUMP ACCOUNTS

NEW CA EMPLOYER REQUIREMENTS

(includes ALL EMPLOYERS WITH A PAYROLL)

California state law requires employers of California workers to participate in CalSavers if they do not sponsor a retirement plan and have one or more eligible employee. Each activity must be completed by specific deadlines. All employers must register and if no other employer sponsored plan is available, employers must make this plan available to their California workers. Each employee can "Opt Out" of the Plan within a certain number of days.

The CalSavers Retirement Savings Program

was created by state law to ensure all California workers can save for retirement through automatic payroll contributions facilitated from their workplace.

Click the link below for more information including qualifications, deadlines and how an employee can "Opt Out":

CAL SAVERS RETIREMENT SAVINGS PROGRAM

Firefighter battles intense wildfire at night.

TAX RELIEF FOR FIRE VICTIMS

1/13/2025 UPDATE

Individuals and businesses with their principal residence or principal place of business in Los Angeles County during the Los Angeles County fires that began on January 7, 2025, qualify for a postponement to file and pay taxes until October 15, 2025.

CA WEBSITE FOR LA FIRE VICTIMS

TRUMP ACCOUNTS

2025 TAX UPDATES