Wealth Management Center

Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey


A student’s health-care proxy can remove barriers for parents in case of an emergency

A student’s health-care proxy can remove barriers for parents in case of an emergency

Parents may also want to prepare some documents such as a health-care proxy before their child leaves for college in case of an emergency or illness.

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Under tax reform, there is no turning back on a Roth conversion

Under tax reform, there is no turning back on a Roth conversion

Under tax reform, reduced marginal tax rates are lowering the cost of a Roth conversion, but the ability to reverse the move is eliminated.

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Next steps when the first college bill is due

Next steps when the first college bill is due

Many parents sending children to college for the first time may need help with financial advice and maximizing their 529 plan when the college bill is due.

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Consider these strategies before interest rates climb higher

Consider these strategies before interest rates climb higher

With many financial plans tied to IRS interest rates, there are several strategies that investors may want to consider before rates move higher.

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Number of taxpayers owing AMT to decline under tax law

Number of taxpayers owing AMT to decline under tax law

Fewer taxpayers will have to pay the alternative minimum tax (AMT) because of changes resulting from the Tax Cuts and Jobs Act (TCJA).

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Will taxpayers pay more or less under the new kiddie tax rules?

Will taxpayers pay more or less under the new kiddie tax rules?

Families with assets in custodial accounts for minors are wondering how the new tax law will impact those accounts, as changes were made to the kiddie tax.

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LGBT couples may have to navigate unique planning considerations

LGBT couples may have to navigate unique planning considerations

The path to achieve many financial goals, such as estate planning, may present specific challenges for LGBT couples, particularly those who are not married.

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Families with 529 college plans garner more savings

Families with 529 college plans garner more savings

While more families choose a general savings account to save for college, those using 529 college plans are saving more, according to Sallie Mae.

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Three ways that tax reform strengthens ABLE accounts

Three ways that tax reform strengthens ABLE accounts

Recent tax reform resulted in changes that allow families to save more in ABLE Accounts for the care of a child with disabilities.

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How to use a 401(k) to fund a Roth IRA

How to use a 401(k) to fund a Roth IRA

Despite income restrictions there may be a way to super-charge your Roth IRA by using a provision for 401(k) plans.

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College planning strategies: Engaging children in saving can advance college goals

College planning strategies: Engaging children in saving can advance college goals

Build momentum for college saving before your child enters high school, by engaging children in good savings habits and monitoring your saving strategy.

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College planning strategies: It’s never too early to start saving

College planning strategies: It’s never too early to start saving

Considering the many responsibilities competing for family savings, it’s never too early to consider college planning strategies.

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Will taxpayers owe more or less in their tax bill next year?

Will taxpayers owe more or less in their tax bill next year?

After the passage of the Tax Cuts and Jobs Act, many taxpayers are wondering how the new law will affect next year’s tax bill.

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Consider these ways to use your tax refund

Consider these ways to use your tax refund

With an average tax refund of nearly $3,000 to use this year, many investors may want guidance on how to allocate these assets.

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Strategies to maximize the new 20% deduction for small businesses

Strategies to maximize the new 20% deduction for small businesses

Small business owners may consider several strategies to maximize the use of the new 20% deduction introduced by tax reform.

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Three ways to try to save on taxes before the filing deadline

Three ways to try to save on taxes before the filing deadline

With the April 17, 2018 tax filing deadline approaching, it’s not too late to consider some strategies that could reduce taxable income.

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Home equity loan interest may still be deductible under tax law

Home equity loan interest may still be deductible under tax law

The Internal Revenue Service recently confirmed that home equity loan interest (HELOC) may still be deductible under the new tax reform law.

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Impact of tax reform on state taxes is unclear

Impact of tax reform on state taxes is unclear

In addition to limits on deductions, tax reform may have a major impact on states that tie their tax system to some elements of the federal tax system.

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Enhanced tax credits may balance lost exemption in tax reform

Enhanced tax credits may balance lost exemption in tax reform

An increase in the child tax credit may help families realize a tax advantage even as the personal exemption is lost.

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Tax reform drives change in planning

Tax reform drives change in planning

Individual taxpayers may consider changing their planning strategies due to the shifting tax landscape under the tax reform law.

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Companies see significant tax cut in new law

Companies see significant tax cut in new law

Corporations may receive a significant tax cut under the tax reform law, which includes a reduced flat tax rate and new rules around deductions.

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Tax rates lowered, deductions limited in tax law

The tax reform law lowers tax rates and imposes new limits on many deductions.

Many deductions changed in new tax law

The standard deduction doubles while some popular tax deductions are limited or eliminated by tax reform.

Estate planning remains vital

Despite higher exclusion levels for federal estate taxes, estate planning remains vital for taxpayers.

Corporate tax cuts slated for 2018

Corporations will have lower tax rates and new rules for expensing resulting from tax reform.

Tax reform creates new deduction for small businesses

Understanding the new 20% deduction for business income is key for small business owners.

New tax law influences individual planning

Individuals may consider various strategies for charitable giving and financial planning in the new tax environment.

$30T in wealth transfer creates opportunity

Advisors may consider expanding their value proposition and professional network to grow their business.

Top strategies for advisors when heirs inherit wealth

Learning about an investor's family can help advisors connect with the next generation.

Social strategies for meeting the next generation

Start with social media and expand to social events to reach out to the next generation of clients.

Use family meetings for more effective wealth transfer

Hosting a family meeting can help investors and their children focus on values, planning issues, and philanthropy.

College savings plans offer tax advantages

Explore tax-advantaged savings when planning for college.

Chris Hennessey is Professor Emeritus of Law at the Babson College School of Executive Education and member of the Putnam Investments Business Advisory Group. His opinions do not necessarily reflect those of Putnam Investments.