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.
“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:
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