In this episode of the Planned Solutions Podcast, the focus begins with Health Savings Accounts (HSAs)—a powerful yet often underutilized financial tool. While many people use HSAs like a tax-advantaged checking account to pay current medical expenses, these accounts frequently include investment sub-accounts. Investing HSA funds can support long-term growth, help offset rising healthcare costs, and even serve broader retirement or wealth-building goals.
The episode also highlights an important tax law change impacting gambling income. Starting in 2026, gamblers will only be allowed to deduct gambling losses up to 90% of their winnings, meaning at least 10% of winnings will be taxable—even if total losses exceed gains for the year. This change further reduces the financial appeal of gambling by worsening its cost-benefit and tax treatment.
Finally, the discussion covers the introduction of Section 530A accounts, commonly known as Trump Accounts, which are now available for children under age 18. These accounts function as investment vehicles with specific rules around access and usage, but unlike custodial Roth IRAs, they do not require the child to have earned income, making them a flexible option for families looking to invest on behalf of minors.
Plus, a look at the Planned Solutions Incorporated Office Bulletin Board -
Tax season is here. The IRS is now officially accepting tax returns, but some of the state agencies are not yet ready for filings. In addition, some tax documents are not yet du,e so they may not be available for a few days or even several weeks. However, that does not mean you must wait to getstarted on your tax filings.
Daryl, Chase, Carter, and Matt attended the Financial Planning Association of Northern California (FPANC) Winter Symposium. Once again, the FPANC did a great job of putting together a solid slate of speakers.
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