Wealth Management Center

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


The dawn of a new 10-year rule for IRAs

The dawn of a new 10-year rule for IRAs

January 22, 2020

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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February 13, 2020  |  1:15pm ET

Tax season and SECURE Act planning for clients

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

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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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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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.