Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
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Time to prepare for tax season
February 1, 2023 | Taxes
Prepare in advance for tax season to make the most of your tax filing.
Tax outlook and planning considerations
- Client seminar – Distribution planning under the SECURE Act (ppt)
- Understanding charitable giving strategies (pdf)
- 10 Roth IRA strategies
- Converting a traditional IRA to a Roth IRA (pdf)
- Apply a net operating loss to a Roth IRA conversion (pdf)
- Top questions from advisors about taxes
- Direction of estate taxes among top advisor concerns
- Client seminar – Tax strategies for the current landscape (ppt)
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More resources to address all aspects of financial planning
- College Savings
- Estate and Wealth Transfer
- Insurance/Risk Management
- Investments
- Retirement/Income
- Taxes
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About this blog
Financial-planning experts Bill Cass and Chris Hennessey weigh in each week with a range of insights about complex financial planning needs.
William Cass, CFP®, CPWA®
Director of Wealth Management Programs for Putnam.
Chris Hennessey
Lawyer and CPA, Faculty Director, Babson College School of Executive Education, is a member of the Putnam Business Advisory Group.
ADVISOR-ONLY WEBCAST SERIES
February 7, 2023 | 1:00pm ET
SECURE 2.0 - Provisions and planning considerations
Bill Cass, CFP®, CPWA®, Director Wealth Management Programs at Putnam
Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group
Time to prepare for tax season
Prepare in advance for tax season to make the most of your tax filing.
Ten income and estate tax planning ideas for 2023
Looking at the year ahead, individuals may want to explore opportunities to save more, reduce taxes, or revise their tax planning strategies.
SECURE 2.0 creates new backdoor Roth opportunity
Beginning in 2024, the SECURE Act allows unused funds from a college savings plan to be transferred to a Roth IRA in a form of backdoor Roth strategy.
SECURE 2.0 key provisions to impact planning
The SECURE 2.0 Act seeks to enhance retirement savings and will likely impact a variety of retirement planning and tax strategies.
Key tax figures for 2023
Due to the surge in inflation, many key tax figures annually adjusted for inflation will increase in 2023.
SECURE 2.0 closes in on the finish line
SECURE 2.0 garnered significant bipartisan support in Congress and expands on the goals of the 2019 bill to help people save more for retirement.
Time is running out for certain tax breaks
With the mid-term elections coming to a close with the run-off election for the Georgia Senate seat, Congress turns its ...
Five year-end planning ideas for retirement savings
Year-end is an opportune time to review retirement savings plans and determine if any adjustments are needed.
Changes to key figures for Social Security, Medicare in 2023
As retirees and workers gauge their finances for next year, here are some key changes to Social Security and Medicare to consider.
Year-end planning review checklist
A year-end review provides an opportunity for taxpayers to see if action is needed on their portfolios and strategies.
Webinar: Tax outlook and year-end planning
As year-end approaches, Join Bill Cass and Chris Hennessey for a discussion of the impact of the elections, the outlook ...
Important estate planning moves before year-end
Estate planning is an important part of year-end planning as taxpayers seek to manage the distribution of assets as and meet any state tax requirements.
Year-end planning ideas to lighten the tax burden
As year-end approaches, taxpayers may consider strategies to try to hedge the risk of higher taxes and mitigate the tax burden.
Estimating your tax bracket can guide tax planning
Taxpayers may want to estimate income for this year to determine their marginal income tax bracket.
The impact of inflation on planning
In addition to the erosion of purchasing power, rising inflation can have a profound impact on financial planning.
Five things to know about Roth IRA distributions
There are several key points for savers to consider as the rules around taking Roth IRA distributions differ from other types of retirement accounts.
Age milestones can trigger financial planning
Reaching certain age milestones can be significant for many different reasons, including financial planning.
Fall open enrollment offers opportunity to change Medicare plans
Each year, Medicare holds an open enrollment period that allows participants to sign up or make changes to existing coverage.
Distribution planning under the SECURE Act
For some with inherited retirement accounts, next steps for distribution planning may be unclear under the SECURE Act rules.
Three ways the Inflation Reduction Act may impact health care
The Inflation Reduction Act may impact health care costs for Medicare recipients including price reductions on certain medications.
Preparing for the final lap before college
As students take the final lap before college the last two years of high school are critical to strengthen their applications and make the college decision.
Millions of borrowers may benefit from student loan forgiveness
The administration announced a program for student loan forgiveness for debtors who meet certain income requirements.
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.