Wealth Management Center

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


Most recent post

Guidelines offer clarity on PPP loan forgiveness for small businesses

May 20, 2020  |  Taxes

The Small Business Association announced guidelines for loan forgiveness for the PPP program for small businesses.

More »

Guidelines offer clarity on PPP loan forgiveness for small businesses
All posts
Guidelines offer clarity on PPP loan forgiveness for small businesses

Guidelines offer clarity on PPP loan forgiveness for small businesses

The Small Business Association announced guidelines for loan forgiveness for the PPP program for small businesses.

More »

Moving forward when RMDs are suspended

Moving forward when RMDs are suspended

The CARES Act provisions suspended RMDs for this year and may impact investors' financial plans.

More »

Planning for college in challenging times

Planning for college in challenging times

Planning for college can be challenging in the near term but families and students can still make progress toward their goals.

More »

States, businesses hope for more economic aid in next pandemic relief bill

States, businesses hope for more economic aid in next pandemic relief bill

Many lawmakers are planning for a fourth phase of pandemic relief funding, which could include aid for states and individuals.

More »

Five planning ideas to consider under the CARES Act

Five planning ideas to consider under the CARES Act

The CARES Act provides emergency assistance to those affected by the pandemic with a range of programs from expanded unemployment benefits to loans.

More »

Pandemic highlights need for legal documents

Pandemic highlights need for legal documents

The pandemic highlights the importance of family communications and having legal documents in place.

More »

CARES Act loosens rules for retirement accounts

CARES Act loosens rules for retirement accounts

Among the many provisions of the CARES Act are modifications of the rules involving retirement accounts to help both retirement savers and retirees.

More »

Three things business owners need to know about the CARES Act

Three things business owners need to know about the CARES Act

The CARES Act has multiple provisions to help small businesses and employees weather the economic downturn.

More »

Massive COVID-19 spending bill to help individuals, businesses

Massive COVID-19 spending bill to help individuals, businesses

The Senate passed the CARES Act which provides emergency assistance for individuals, families, and businesses affected by the COVID-19 pandemic.

More »

Five planning strategies for volatile markets

Five planning strategies for volatile markets

Volatile markets can present certain financial planning opportunities.

More »

Video: Planning strategies for designating heirs under new 10-year rule

Video: Planning strategies for designating heirs under new 10-year rule

The new 10-year rule resulted in several planning considerations for investors as they choose beneficiaries for estate plans.

More »

Video: Consider hedging against future higher tax rates with a Roth

Video: Consider hedging against future higher tax rates with a Roth

Consider Roth IRAs and other tax efficient strategies when planning ahead for potential future higher taxes.

More »

Video: Where are tax rates headed?

Video: Where are tax rates headed?

The need for additional government revenue will pressure lawmakers to raise tax rates in the future.

More »

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.

More »

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.

More »

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.

More »

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.

More »

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.

More »

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.

More »

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.

More »

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.

More »

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.

More »

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.