2025 Q4 NEWSLETTER
Office Updates and Events
We brought on new Paraplanner in October; see Nick’s bio here!
Trusted Contacts
We are encouraging everyone to share a “trusted contact” with us.
Who is a Trusted Contact?
This is someone close to you (family, friend, other) that would be able to provide an update as to your health or current contact information in the event we are unable to reach you. This should also be someone that you would be comfortable with us sharing our concerns in the event we suspect a diminished capacity to make decisions or are potentially being exploited financially.
What can a Trusted Contact do?
Your Trusted Contact cannot take any action on your accounts and will not be provided any information regarding balances, account numbers, or your personal information. They are only able to help us get in contact with you if we are unable and/or if we have serious concerns.
How do I add a Trusted Contact?
To make sure we have a trusted contact on file, please either call our office or send us an email with your Trusted Contacts information, such as – First and last name, phone, email, relationship to you, and address (not required).
In our last quarterly newsletter, we took a look at the freshly announced Trump Accounts, which we are now able to expand on a little further with new information.
Answers as to how these are opened are below. See the attached links for more information regarding investing and funding.
- Who is eligible?
- Any child under 18 with a valid Social Security number may open a Trump Account, but US citizens born between January 1, 2025, and December 31, 2028, will also receive a one-time $1,000 contribution made by Treasury.
- How do I open a Trump Account for my child?
- Use IRS Form 4547 to make the election to establish an initial Trump Account for the exclusive benefit of a child who is eligible; also use Form 4547 to make an election for the $1,000 pilot program contribution from the U.S. Treasury to the child’s Trump Account if they are eligible for the contribution. After the election is made, beginning in May 2026, Treasury or its agent will send information to the individual who made the election to activate the account through an authentication process and complete the opening of the initial Trump account.
- When can I open a Trump Account for my child?
- IRS Form 4547 can be filed at any time, including at the same time as the electing individual’s 2025 income tax return is filed. Beginning mid-2026, these elections can also be made through an online account at trumpaccounts.gov.
- Where will the Trump Account be held? Can I use my preferred brokerage firm?
- All Trump Accounts will initially be created and held with Treasury’s designated financial agent. At a later date, parents or guardians will be able to transfer the full balance of a Trump Account to their preferred brokerage firm through a simple trustee-to-trustee rollover.
- When do contributions begin?
- Contributions to Trump Accounts will be accepted starting July 4, 2026.
- Dell Gift - See link for more details on Dell supporting these types of accounts
As part of your year-end planning, we want to highlight an important change from the U.S. Postal Service that may affect time-sensitive documents. Under a new rule, the official postmark date is no longer based on when you drop mail into a mailbox or bring to the post office, but instead on when it is first processed by USPS equipment.
To help avoid issues with time sensitive deadlines for taxes, contributions, donations, etc., we recommend mailing important items earlier than usual, requesting a manual (local) postmark, or using certified or electronic delivery when available.
Key 2026 Tax Changes/Updates
Social Security Cost of Living Adjustment (COLA)
Social Security beneficiaries and Supplemental Security Income (SSI) recipients will receive a 2.8 percent COLA for 2026
Extension of TCJA’s tax rates
Pre-TCJA individual income tax rates and brackets were scheduled to return for tax years beginning after December 31, 2025, resulting in higher marginal rates. The OBBBA makes permanent the TCJA’s individual income tax rates and brackets (10%, 12%, 22%, 24%, 32%, 35%, 37%)
Additional senior deduction (2025 through 2028)
Additional $6,000 deduction for taxpayers 65 and older.
- Phaseout for MAGI $75,000-$175,000 ($150,000-$250,000 for Married Filing Jointly filers).
Roth catch-up requirement
Beginning on January 1, 2026, workers who are age 50 (by December 31) or older and earned more than $150,000 in FICA wages in the prior year (2025) will need to make any catch-up contributions on a Roth basis