Strube CPA PC

Trump Accounts, yay or nay?

See my detailed write-up here: https://strubecpa.com/trump-accounts-yay-or-nay/

TLDR: I'm generally a fan. What I really like is the trifecta 1) that these would not create a *federal* income tax filing requirement for minor children, 2) that there is no earned income requirement to contribute, and 3) that there are no restrictions on how the funds can be used.

Trump Accounts fit in that space that none of the other current options for kid accounts offer.

So I’ve opened them for my kids. TBD on how much, if anything, I’ll deposit. You can do the same either through filing Form 4547 with your tax returns or by going to the website linked in my blog post above.

Photo credit: Taylor Davidson Photography

Investors, consolidate your taxable brokerage accounts! I keep getting prospects that claim they have a "simple" return, yet they have nine brokerage accounts spread across seven custodians!

1) This muddies your true picture of how you are or aren't diversified. 2) This increases your tax prep fee. Each of these requires more error-checking and data validation. 3) This increases your risk of error, whether you pay a tax pro or DIY your taxes.

For people with , a separate brokerage account may make sense or even be required for your and holdings.

But for the rest of your taxable investments, you don't need more than one or two other accounts. Use a third-party app if you want a way to bucket different investment goals.

I love sign-up bonuses myself, so I get the allure of a new account and free money. But have a plan to pick the brokerage you want to stay with, and close out the other accounts. You can transfer positions so that you don't incur a taxable event by selling.

Do the work, start the transfer process. Eat the elephant one bite at a time.

This is a fantastic writeup in layperson terms by my friend Kelly that outlines why extending your tax returns is a normal, safe and good thing.

I Learned These Tax Extension Lessons The Hard Way Tax season can be busy. Here’s what taxpayers should know about filing for extension, making payments and planning for the unexpected.

One of the best things you can do to get ahead on your is to have a place to put things before you need a place to put things. Make your 2026 tax folder (a physical one and a virtual one) NOW.

A handful of tax documents or tax related things might come in during the year (vehicle renewal notices, Goodwill drop off receipts, etc.), way before the end of the year. Have your folders ready so that you always know where to put those things ahead of time.

Happy New Year! Here's your annual reminder: if you track and deduct mileage for any reason related to your taxes, go take a cell phone picture of your odometer for each vehicle.

Your tax pro needs not just your business miles per car, but ALSO the TOTAL miles driven on each car. It's part of the reporting requirements.

So make this an annual recurring calendar reminder. If you have these photos in your Google/Apple photos every Jan 1, total mileage becomes an easy subtraction problem and you can stop guessing. 😜

Here's your quick peek at the mileage rates for 2026:

All right , here's your requested selfie. Looking forward to this