Wealth Management Center

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


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November 5, 2019

Year-end planning strategies

Bill Cass, CFP®, Director Wealth Management Programs at Putnam
Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group

The kiddie tax changes, again

The kiddie tax changes, again

The recently-passed SECURE Act provides for many changes to retirement accounts as well as changes to some tax-related items such as the kiddie tax.

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SECURE Act: Congress passes landmark retirement legislation

SECURE Act: Congress passes landmark retirement legislation

The passage of this landmark legislation represents the most significant changes to the retirement industry since the Pension Protection Act (PPA) of 2006.

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Keep your estate plan on track with a beneficiary review

Keep your estate plan on track with a beneficiary review

Year-end is an opportune time to offer a beneficiary review to ensure that accounts are up-to-date.

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Families can super-size college savings with a year-end gift

Families can super-size college savings with a year-end gift

Consider giving the gift of education this year with several strategies, including a super-size contribution, to a 529 college savings plan.

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Medicare participants may need to bear more costs in 2020

Medicare participants may need to bear more costs in 2020

The Centers for Medicare and Medicaid Services (CMS) has published changes to 2020 premiums and deductibles.

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When donating to charity, investors may want to explore this IRA strategy

When donating to charity, investors may want to explore this IRA strategy

Investors may want to consider using an IRA strategy to direct donations to charity and receive a tax advantage.

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Proposed RMD changes could help retirees keep more of their savings

Proposed RMD changes could help retirees keep more of their savings

The federal government wants to update the life expectancy projections that investors use to calculate an RMD from retirement accounts.

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Three key changes for Social Security in 2020

Three key changes for Social Security in 2020

Some key changes for Social Security are planned for 2020 and will impact millions of retirees as well as current workers paying into the system.

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Gauge your tax bracket to drive tax planning at year-end

Gauge your tax bracket to drive tax planning at year-end

There is one important number for investors to know that can drive tax planning strategies at year-end: their marginal tax bracket.

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At year-end, consider lumping charitable gifts

At year-end, consider lumping charitable gifts

With new limits to tax deductions under tax reform, investors may consider lumping charitable gifts into one year to achieve a tax deduction.

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Year-end deadline approaches for opportunity zone tax break

Year-end deadline approaches for opportunity zone tax break

Under a program created by the Tax Cuts and Jobs Act, investors can receive a tax break on capital gains if they invest those gains in an opportunity zone.

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Captive insurance may be a useful tool for business owners

Captive insurance may be a useful tool for business owners

A captive insurance program can help a business manage risk by establishing its own insurance company to address certain known risks.

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Open enrollment presents opportunity to change Medicare options

Open enrollment presents opportunity to change Medicare options

Open enrollment provides an opportunity to talk about health-care cost planning with investors as they consider Medicare options.

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Retirement plans may not be out of reach for small businesses

Retirement plans may not be out of reach for small businesses

Many small business owners may not realize that Internal Revenue Service offers a tax credit for the costs of establishing workplace retirement plans.

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Planning strategies to prepare if taxes move higher

Planning strategies to prepare if taxes move higher

As the federal budget deficit rises, it is likely that investors will see taxes move higher in the future.

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Last two years of high school are crunch time to prepare for college

Last two years of high school are crunch time to prepare for college

Families with college-bound students focus more intently on the future when their child enters the last two years of high school.

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Planning for college can begin as early as freshman year in high school

Planning for college can begin as early as freshman year in high school

Even for students just settling in to high school, it is not too early to start planning for college.

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A 529 college savings plan can be flexible as situations change

A 529 college savings plan can be flexible as situations change

A 529 college savings plan is flexible and the account owner can make changes to investments and beneficiaries over time.

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Packing for college? Remember the legal documents

Packing for college? Remember the legal documents

Parents of college-bound children may want to consider preparing certain legal documents before their child leaves for school.

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Back to school:  Time to spend or save?

Back to school: Time to spend or save?

Families will spend record levels as their children head back to school this year. But the school season may also be a time to focus on saving.

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Proposed bill represents landmark changes to retirement savings

Proposed bill represents landmark changes to retirement savings

The Senate is considering a bill that represents the most comprehensive changes to retirement savings since the Pension Protection Act of 2006.

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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.