Main Street Business #613 Open Forum — Kids’ Trump Accounts, Real Estate Taxes, and Growing Your Business
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Mar 13, 2026 They unpack the new kids’ “Trump accounts” and when parents might still use them. The show explores converting those accounts into Roth IRAs later on. Listeners hear tax moves for high-profit business owners, including retirement plan tactics and paying family through a business. Scaling strategies are covered too, from virtual therapy models to when to expand physical locations.
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Mark's Alligator Boots Anecdote
- Mark recounts killing an alligator years ago and getting custom alligator boots.
- He mentions living on a ranch and using the boots as a going-out item, illustrating personality and rapport with listeners.
Use Trump Accounts To Turbocharge Kids Roths
- Do open a Trump account for kids even if you don't get the $1,000 government deposit.
- You can contribute up to $5,000/year per child under 18 and later convert the account to a Roth IRA when the child is in a low tax bracket to pay tax only on earnings.
Pay Kids Wages To Fund Their Roths
- Do consider paying kids through your business when possible so they earn W-2 income and can fund a child's Roth IRA directly.
- If you have a small business, pay legitimate wages (e.g., $10k) and have the child contribute up to annual Roth limits while also funding a Trump account.