Wealth Management Center

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


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Tax season is a good reminder of 529 plan tax benefits

April 7, 2021  |  College Savings

Tax season can provide a good reminder that 529 plans offer significant tax benefits for families looking for fund college education.

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Tax season is a good reminder of 529 plan tax benefits
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Tax season is a good reminder of 529 plan tax benefits

Tax season is a good reminder of 529 plan tax benefits

Tax season can provide a good reminder that 529 plans offer significant tax benefits for families looking for fund college education.

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10 ideas to use a Roth IRA to mitigate higher taxes

10 ideas to use a Roth IRA to mitigate higher taxes

Investors may want to consider certain strategies to hedge against the risk of higher taxes, including using a Roth IRA conversion.

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Three options to change stepped-up cost basis rules

Three options to change stepped-up cost basis rules

Potential changes to stepped-up cost basis rules may emerge as lawmakers consider federal revenue needs.

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Direction of estate taxes among top advisor concerns

Direction of estate taxes among top advisor concerns

Most advisors are closely monitoring tax policy as it is not yet clear what proposals around estate taxes will be introduced on Congress’s agenda this year.

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Four key tax changes in the new pandemic relief bill

Four key tax changes in the new pandemic relief bill

In addition to broad relief measures, the latest pandemic relief bill includes several tax changes that could impact planning.

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Top questions from advisors about taxes

Top questions from advisors about taxes

Advisors are fielding many questions about taxes and the outlook for tax increases under the new administration.

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Webcast: Tax outlook and strategies in the Biden era

Webcast: Tax outlook and strategies in the Biden era

Wealth management professionals offer a tax outlook and discuss tax smart strategies under the Biden era.

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Next steps for investors who withdrew funds under the CARES Act

Next steps for investors who withdrew funds under the CARES Act

Individuals who withdrew retirement funds under the CARES Act have options for filing and paying taxes.

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Webcast: Learn about tax planning in the Biden era

Webcast: Learn about tax planning in the Biden era

In 2021, investors continue to face change, with the impact of the first 100 days of the Biden administration and the potential for a shifting tax landscape.

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Lawmakers call for SALT revival

Lawmakers call for SALT revival

Several lawmakers on Capitol Hill have introduced legislation calling for a revival of the SALT deduction.

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Three estate planning strategies for 2021

Three estate planning strategies for 2021

Investors may want to consider estate planning strategies as tax provisions impacting federal gift and estate taxes will sunset after 2025.

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Top tax-planning ideas for 2021

Top tax-planning ideas for 2021

The current tax environment and potential for higher tax rates in the future create an opportunity for tax planning strategies to hedge future higher taxes.

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Tracking CARES Act tax changes

Tracking CARES Act tax changes

With a range of temporary tax code changes instituted by the CARES Act in 2020, tracking tax changes that are extended into 2021 can be a challenge.

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Figures that taxpayers need to know in 2021

Figures that taxpayers need to know in 2021

Taxpayers need to know some key figures as they review current tax plans and consider 2021 planning.

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Congress seals deal for more pandemic relief

Congress seals deal for more pandemic relief

Congress voted today to approve a $900 billion pandemic relief package offering economic aid to individuals and businesses.

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529 plan checklist for 2020 year-end

529 plan checklist for 2020 year-end

Whether saving for college or making withdrawals, there are many 529 plan considerations that may need attention at year-end.

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More tax options for business losses in 2020

More tax options for business losses in 2020

The CARES Act provides more ways for business owners to offset losses in tax filings in 2020.

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Year-end ideas for gifting and estate plans

Year-end ideas for gifting and estate plans

For financial planning, year end can be an opportune time to review strategies for gifting and estate plans.

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Four tax planning considerations for year-end

Four tax planning considerations for year-end

While tax rates are historically low, investors may want to review several tax planning considerations before year end.

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Year-end planning ideas under the CARES Act

Year-end planning ideas under the CARES Act

As investors prepare for year-end planning, they may want to consider tax-smart strategies under the CARES Act.

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Five key changes proposed by Secure Act 2.0

Five key changes proposed by Secure Act 2.0

The House last week introduced a bipartisan bill, known as Secure Act 2.0, to expand retirement plan participation and savings.

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Retirement planning for the end of the year

The fourth quarter is an opportune time to take inventory of retirement accounts and review actions such as required minimum distributions and planning strategies before year-end.

Prepare clients for year-end planning

Gifting, required retirement distributions, and charitable donations are among many planning actions that need attention by the end of the year.

There's still time to implement tax-smart strategies

Determining an individual's tax bracket will drive which tax-smart strategies to implement, including managing income, capital gains and losses.

Some estate-planning benefits may be lost if not used

Investors may want to explore gifting and other estate-planning strategies to take advantage of tax benefits that may be limited.

Debt ceiling debate and federal budget on Capitol Hill agenda

As Congress faces a December deadline for the federal budget, the debt ceiling debate was moved up sooner than expected.

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.