Wealth Management Center

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


New rule under SECURE Act blocks tax abuses using QCDs

New rule under SECURE Act blocks tax abuses using QCDs

The SECURE Act introduced an anti-abuse rule to prevent benefiting twice from taking IRA distributions and QCDs.

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Tax planning is a topic for all seasons

Tax planning is a topic for all seasons

There may be more opportunities to use tax-efficient strategies if investors focus on tax planning throughout the year.

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Trust strategies rattled by SECURE Act

Trust strategies rattled by SECURE Act

The SECURE Act recast the rules for leaving retirement assets to heirs, creating challenges for beneficiaries and conflicts with certain trust strategies.

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Planning strategies for the SECURE Act 10-year rule

Planning strategies for the SECURE Act 10-year rule

The SECURE Act brings significant changes to retirement accounts and introduces a new 10-year rule for inherited retirement assets.

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The dawn of a new 10-year rule for IRAs

The dawn of a new 10-year rule for IRAs

The SECURE Act became law in December and introduced many changes to retirement accounts, including a new 10-year rule for IRAs signaling the repeal of the stretch IRA strategy.

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Key figures that taxpayers need to know for 2020

Key figures that taxpayers need to know for 2020

The Internal Revenue Service recently announced the tax rates and contribution limits for 2020, including key figures that investors will want to consider.

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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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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.