Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
Create a checklist for when a family member passes away
July 11, 2019
Most families do not want to think about losing a loved one. But creating a checklist for family members may help them navigate a difficult situation.
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ADVISOR-ONLY WEBCAST SERIES
February 14, 2019
Planning ideas for tax season
Bill Cass, CFP®, Director Wealth Management Programs at Putnam
Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group
Certain trusts may help lift the weight of a state tax burden
With tax deductions limited under tax reform, taxpayers in high-tax states may consider using incomplete non-grantor trusts to plan for state income taxes.
Strategies to preserve step-up in cost basis under new tax landscape
The focus in estate planning has shifted to income taxes, including strategies for the step-up cost basis, a planning consideration to manage capital gains.
Same-sex couples face challenges in financial planning
While progress has been made on marriage equality, same-sex couples may continue to face obstacles to saving and other financial planning issues.
Is the stretch IRA doomed?
With sweeping retirement legislation garnering massive support in Congress, concerns about the future of the stretch IRA have resurfaced.
More colleges offer tuition deals for out-of-state students
Some families that once felt that they had no control over college costs, are finding that many colleges offer tuition deals.
Preserving open space may deliver a tax break
Land designated with a conservation easement, including preserving open space, can offer tax advantages to a property owner.
Four reasons to convert a custodial account to a 529 plan
There are several reasons why parents decide to liquidate a custodial account and use the assets to fund a 529 college savings plan.
When a defective trust may be effective
A so-called defective trust may help business owners transfer wealth to other family members during their lifetime in a tax efficient manner.
Will Social Security be solvent when it is time to collect?
A new report found that the cost of Social Security is projected to exceed its income in 2020 and the trust funds are projected to be depleted in 2035.
Three planning considerations now that tax season is over
Now that the first tax season under tax reform is in the books, what are some tax planning considerations for the rest of the year.
Fewer estates taxed under tax reform, but state taxes still a concern
Under tax reform, the federal estate tax applies to fewer estates, yet more than a dozen states have estate or inheritance taxes.
Congress considers proposals to enhance retirement accounts
Changes to retirement accounts could be on the horizon as Congress considers legislation to enhance 401(k) plans and other retirement accounts.
Investors face more challenges generating retirement income than saving
For investors preparing for retirement, it may be more difficult to distribute retirement income than to accumulate.
It is not too late to fund a SEP IRA
Small businesses and freelance workers seeking a retirement savings strategy may consider the advantages of a SEP IRA.
New strategies emerge for Roth conversions
Under tax reform, taxpayers can still act on Roth conversions, but the option to recharacterize - or undo the conversion - is no longer available.
Estate planning considerations before the law sunsets
Estate planning remains an important part of financial planning and here are some considerations before the estate tax law sunsets.
Optimize the pass-through business tax deduction
Small business owners may want to consult with an advisor or tax expert to review the pass-through business tax deduction introduced by tax reform.
A new perspective on tax deductions
Many popular tax deductions were limited or eliminated under tax reform and investors may want to consider strategies to mitigate the impact.
Small-business deduction rules finalized
The Treasury and Internal Revenue service recently finalized the rules for claiming the small business deduction, introduced by the Tax Cuts and Jobs Act.
The 1040 tax filing this year can reveal opportunities for planning
This is the first year of tax filing since tax reform and some taxpayers may find their 1040 filing indicates opportunities for planning.
Form 1040 gets an overhaul under tax reform
Tax reform resulted in broad-based changes to the tax code as well as changes to the Form 1040 and other tax forms.
Tax season planning under the TCJA
A new perspective on tax deductions
Optimize the small-business tax deduction
Estate planning considerations before the law sunsets
New strategies emerge for Roth conversions
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.
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.