Forget Politics—M.A.G.A. Accounts Could Pay Off | Quick Tax Tip

Money Accounts for Growth Advancement offer tax-free growth and even a $1,000 government kickstart.

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Quick Tax Tip
With Art Werner
CPE Today

Congress may have stumbled into a politically charged acronym, but the new “M.A.G.A. accounts” have nothing to do with campaign slogans. In a recent episode of Quick Tax Tip, tax guru Art Werner breaks down what the law actually created: Money Accounts for Growth Advancement.

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“These are tax-exempt trust accounts for U.S. citizens under the age of 18,” Werner explains. “For the right client, this could be really nice.”

Here’s how the accounts work: