Floyd Financial Group
π¨ππ¨πFacts about the Trump Account $1,000 π¨ππ¨π
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This is NOT an extra $1,000 added to your tax refund
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You will NOT get an extra $1,000 back when you file your taxes
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Your tax preparer cannot βadd itβ to your return
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This is NOT the Child Tax Credit and it does not increase your refund
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This is a government-supported investment account for kids born between January 1, 2025 and December 31, 2028
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The government will deposit a one time $1,000 into the childβs Trump Account (if the child is a U.S. citizen with a valid Social Security number)
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The $1,000 goes into a special savings/investment account
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It is meant to sit and grow over time through investing
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The money cannot be withdrawn right away
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Parents cannot pull the $1,000 out early
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A tax preparer cannot pull the $1,000 out either
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The child typically cannot access the money until they are an adult (around age 18)
Bottom line
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This is a long term wealth account for the child, not extra refund money today
12/30/2024
Frequently Asked Questions πππ
π£ TAX SEASON IS COMING! π£
Itβs almost that time of year againβTAX SEASON 2024! π Here are a few things to keep in mind as you prepare:
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Make sure your documents are organized (W-2s, 1099s, etc.)
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Review any major life changes from 2023 (marriage, new baby, etc.)
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Need help filing? Iβm here to make it stress-free!
Donβt wait until the last minuteβletβs get ahead together! πΌπ°
Text: 706-872-6631 βοΈβοΈ
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Augusta, GA