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DFW, TX / BROOKLYN, NY, Feb. 04, 2026 (GLOBE NEWSWIRE) -- Equity Compensation Tax Specialist and Boutique Tax Firm Founder with 13 Years Leading Red White and Blue Tax Services in Brooklyn Guides Business Owners, Tech Employees, and Families Through One Big Beautiful Bill Act Tax Changes — Including Trump Accounts, Qualified Overtime Compensation Deduction, SALT Cap Increase, and Vehicle Loan Interest Benefits for 2026 Tax Filing SeasonRed White and Blue Tax Services, a tax preparation and advisory firm specializing in small business tax planning, equity compensation tax strategy, and year-round advisory for business owners and individuals with complex tax situations, today announced the expansion of its virtual practice across the DFW metroplex and New York City metropolitan area, alongside the launch of its redesigned digital platform at rwbtax.us.Logo for Red White & Blue Tax ServicesThe expansion comes as American taxpayers prepare to navigate significant changes to the Internal Revenue Code under the One Big Beautiful Bill Act (OBBBA), signed into law on July 4, 2025. The legislation introduces several provisions — including the qualified overtime compensation tax deduction, Trump Accounts, an increased SALT deduction cap of $40,000, and a new vehicle loan interest deduction — that will materially affect tax planning strategies for the 2025 tax year and beyond."This filing season represents the most substantial shift in individual and small business tax planning since the Tax Cuts and Jobs Act of 2017," said Haziq Inayat, founder of Red White and Blue Tax Services. "Business owners, tech employees with stock compensation, and working families who understand these new provisions — from the qualified overtime compensation deduction to the SALT cap increase — can achieve meaningful tax savings. Those who don't may leave significant money on the table."Key OBBBA Provisions Affecting 2025 Tax ReturnsTrump Accounts: A New Tax-Advantaged Vehicle for ChildrenThe OBBBA establishes Trump Accounts, a new category of individual retirement account designed specifically for minor beneficiaries. Under Internal Revenue Code provisions enacted by the legislation, parents and guardians may establish these accounts for children under age 18 by filing Form 4547 (Application for Trump Account) with their 2025 tax return. Eligible families should plan to file this form during the 2026 tax filing season, which begins with IRS processing on January 26, 2026.Children born between January 1, 2025, and December 31, 2028, who are U.S. citizens with valid Social Security numbers are eligible to receive a one-time $1,000 contribution from the federal government. This pilot program contribution does not count against the $5,000 aggregate annual contribution limit."The compound growth potential is remarkable," Inayat noted. "A $1,000 seed contribution at birth, assuming historical market returns, could grow to approximately $500,000 by retirement age—without any additional contributions. Families ...Full story available on Benzinga.com
