The Friday Lowdown ⬇️

If you're new around here, every day I share the 4-5 best accounting insights I saw in the past 24 hours.

I scroll. so you don't have to.

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💎 WTF of the Day

IRS Drops First Rules on Trump Accounts

The IRS finally explained how Trump Accounts work, the new kid investment accounts coming in 2026. Every eligible child gets a free 1,000 dollars from the government plus a surprise 6.25 billion dollar Dell (yes. the Dell computer billionaire family).

Families can put in up to 5k a year, employers can add 2.5k, and everything must stay in simple S&P 500 index funds, and when the kid turns 18, the account automatically becomes a traditional IRA.

Source

💎 What’s poppin in accounting

GAAP Finally Has Real Rules for Government Grants

For years, if a business got a government grant, accountants had to guess how to record it. Some copied international rules, some borrowed nonprofit rules, some made up their own. Total chaos.

The goal is simple no more “creative” interpretations, fewer audit headaches, and cleaner financials for investors. Public companies must adopt in 2029, private companies in 2030. After decades of accountants duct-taping policies together, GAAP finally stopped freelancing.

Source

 📊 Weekly Trend Chart

US Wants to Ban Airport Pajamas

The DOT just launched a campaign begging Americans to stop flying in pajamas. Transportation Secretary Sean Duffy even went on TV saying people look like they are heading to bed, not an airport.

The internet roasted him. People said if airlines keep shrinking seats to 17 inches and delaying every flight, nobody is putting on jeans for that. And young people agree. A YouGov poll says 71 percent of Gen Z thinks wearing pajamas on a plane is totally normal. Older travelers hate it.

So now we have a full blown culture war over airport outfits. Forget the Golden Age of Travel. Most people just want legroom.

#😂 

 😂 this one will make some of you mad

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