Wealth Management Center

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


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Keys to saving taxes with a domicile change

May 24, 2023  |  Taxes

Considerations when relocating and establishing a new domicile to try to save on taxes.

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Keys to saving taxes with a domicile change
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March 15, 2023

Ideas to engage clients during tax season

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

Keys to saving taxes with a domicile change

Keys to saving taxes with a domicile change

Considerations when relocating and establishing a new domicile to try to save on taxes.

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Decision made: Why 529 plans are a popular choice for college

Decision made: Why 529 plans are a popular choice for college

A growing number of families are using 529 plans to save for college.

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Birthdays may signal time to take financial action

Birthdays may signal time to take financial action

In addition to birthdays and life changes, such as retirement, age milestones are meaningful for financial planning.

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As FAFSA rules change, more grandparents may save in 529 plans

As FAFSA rules change, more grandparents may save in 529 plans

More grandparents may consider funding a 529 plan for their grandchildren as financial aid rules change.

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Couples have unique option to plan for risk of future higher estate taxes

Couples have unique option to plan for risk of future higher estate taxes

The expiring tax law provides a planning dilemma and opportunity for high-net-worth households concerned about the future of federal estate taxes.

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Tax planning is a focus for all seasons

Tax planning is a focus for all seasons

Staying focused on tax planning can help individuals find ways to improve their tax situation throughout the year.

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Examining ways to fix Social Security

Examining ways to fix Social Security

The latest projections about Social Security indicate the trust fund will be able to pay timely benefits until 2034 when the fund will be depleted.

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There is still time to try to save on taxes before the filing deadline

There is still time to try to save on taxes before the filing deadline

With the April 18, 2023 tax-filing deadline approaching, it’s not too late to consider some strategies that could reduce taxable ...

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Planning considerations for a divorce

Planning considerations for a divorce

Divorce can be overwhelming on an emotional level as well as when dealing with planning issues such as taxes, property division, and custodial arrangements.

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Leading tax questions on the minds of advisors from our webinar

Leading tax questions on the minds of advisors from our webinar

Here are some of the top tax questions asked by advisors on our recent webinar.

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Soaring federal debt signals future tax increases

Soaring federal debt signals future tax increases

Given the current state of federal debt and solvency issues with entitlement programs, it is likely that revenue needs will lead to higher taxes.

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Tax credits open door to new retirement plans

Tax credits open door to new retirement plans

SECURE 2.0 provides tax credits for smaller businesses to establish workplace retirement plans.

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Three ways to offset income from a Roth conversion

Three ways to offset income from a Roth conversion

There may be planning opportunities to mitigate the taxes associated with a Roth conversion.

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Taxpayers face challenges as tax provisions sunset in 2025

Taxpayers face challenges as tax provisions sunset in 2025

Unless Congress acts, current tax rates and most tax provisions in the tax code will sunset in 2025.

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How the expiring TCJA may impact taxes in the future

How the expiring TCJA may impact taxes in the future

Most provisions of the TCJA will expire in 2025 but taxpayers still have time to plan ahead for potential higher taxes.

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Top advisor questions from our SECURE 2.0 webinar

Top advisor questions from our SECURE 2.0 webinar

Tax credits for start-up retirement plans, Roth strategies and easing rules around RMDs were among the top advisor questions about SECURE 2.0.

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Time to prepare for tax season

Time to prepare for tax season

Prepare in advance for tax season to make the most of your tax filing.

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Ten income and estate tax planning ideas for 2023

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.

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SECURE 2.0 creates new backdoor Roth opportunity

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.

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SECURE 2.0 key provisions to impact planning

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.

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Key tax figures for 2023

Key tax figures for 2023

Due to the surge in inflation, many key tax figures annually adjusted for inflation will increase in 2023.

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SECURE 2.0 closes in on the finish line

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.

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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.