Tax Update: Trump Accounts are Opening Automatically: What Families Still Need to Do

Does this apply to me? If you have an eligible child, it may. Under temporary regulations released Sept. 30, Treasury is automatically creating Trump Accounts for eligible children who don't already have one, starting on or about Oct. 1, with more enrollments to follow periodically.


What changed: An account can now exist without any action from you. Until a parent or guardian claims it, it can receive only broad-based contributions from government entities or charitable organizations (which may now include publicly traded stock) and the $1,000 federal pilot contribution, if that election was made separately.

What to do: If you plan to contribute, first confirm whether an account was created for your child. Then claim it through Treasury's online application and activate it with the trustee. If your child qualifies for the $1,000 pilot contribution, make sure the separate election has been made.

Trump Accounts came from the Working Families Tax Cuts legislation and became available July 4, 2026, as a long-term savings option for eligible children. Before you contribute, it helps to see how the account fits your overall financial plan.

Business owners: Employer contribution rules are still coming in separate Treasury guidance. We can help you think through the planning considerations as more details are released.

Live Session:
Has Your Business Outgrown DIY Bookkeeping?

Join us on Wednesday, December 2 at noon EST


Most bookkeeping problems stay quiet until tax time.



A reconciliation that slipped in the spring. A personal expense coded to the business over the summer. Each one seems small. By year-end, they can add up to a slower tax season and decisions based on numbers you can't fully trust.



If your business has grown but you still handle the books yourself, this session is made for your stage. Tyler Puckrin, CPA, and Matt Harris, CPA, will cover the signs you've outgrown DIY bookkeeping, what to fix before year-end and real examples of what clean books have uncovered for business owners.

Succession Planning: Prepare Your Business for What Comes Next

Written by Matt Harris, CPA


Succession planning isn't only about retirement. It prepares your business for any change in ownership or leadership, whether that's a transfer to family, a sale to employees or a new partner. Starting years ahead gives you more options and time to fix weak spots before they become a problem. The article covers choosing a successor, why an objective valuation matters, how deal structure affects taxes and how to make your business less dependent on you.

Firm News

Please join us in welcoming three new team members to Payne Nickles.

Aaron Wheeler joins us as a senior accountant in Norwalk, where he grew up. Aaron is a graduate of St. Paul and Bowling Green State University who enjoys gardening, golfing and gaming. He recently returned from a family trip to France, where the sights and the food were highlights.

Tyler Perkins joins our Norwalk office as a staff accountant. A St. Paul graduate, Tyler spent four years as the starting punter for Iowa State University and attended a rookie minicamp with the Jacksonville Jaguars. He's now working toward his Enrolled Agent certification, with the CPA exam up next.

Jake Leibacher is our newest staff accountant in Sandusky. The Castalia native recently graduated from Lake Erie College, where he played basketball for four years. Outside of work, he enjoys golf, guitar and hiking.

Named a 2026 Best of the Best Accounting Firm

We are honored to be named a 2026 winner in the Accounting Firm category of the Firelands Best of the Best Readers' Choice Awards. Thank you to our clients, friends and neighbors for your continued confidence in our team.

Norwalk | Sandusky