Wealth Management Center

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


Will taxpayers owe more or less in their tax bill next year?

Will taxpayers owe more or less in their tax bill next year?

April 25, 2018

After the passage of the Tax Cuts and Jobs Act, many taxpayers are wondering how the new law will affect next year’s tax bill.

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February 7, 2018

Tax reform and strategies for 2018

William D. Cass, CFP®, Director Wealth Management Programs at Putnam
Christopher P. Hennessey, Lawyer, CPA, Member, Putnam Business Advisory Group
Paul M. Drury, CFA, Portfolio Manager

Consider these ways to use your tax refund

Consider these ways to use your tax refund

With an average tax refund of nearly $3,000 to use this year, many investors may want guidance on how to allocate these assets.

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Strategies to maximize the new 20% deduction for small businesses

Strategies to maximize the new 20% deduction for small businesses

Small business owners may consider several strategies to maximize the use of the new 20% deduction introduced by tax reform.

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Three ways to try to save on taxes before the filing deadline

Three ways to try to save on taxes before the filing deadline

With the April 17, 2018 tax filing deadline approaching, it’s not too late to consider some strategies that could reduce taxable income.

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Home equity loan interest may still be deductible under tax law

Home equity loan interest may still be deductible under tax law

The Internal Revenue Service recently confirmed that home equity loan interest (HELOC) may still be deductible under the new tax reform law.

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Impact of tax reform on state taxes is unclear

Impact of tax reform on state taxes is unclear

In addition to limits on deductions, tax reform may have a major impact on states that tie their tax system to some elements of the federal tax system.

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Enhanced tax credits may balance lost exemption in tax reform

Enhanced tax credits may balance lost exemption in tax reform

An increase in the child tax credit may help families realize a tax advantage even as the personal exemption is lost.

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Tax reform drives change in planning

Tax reform drives change in planning

Individual taxpayers may consider changing their planning strategies due to the shifting tax landscape under the tax reform law.

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Companies see significant tax cut in new law

Companies see significant tax cut in new law

Corporations may receive a significant tax cut under the tax reform law, which includes a reduced flat tax rate and new rules around deductions.

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Tax reform limits scope of estate tax

Tax reform limits scope of estate tax

Fewer estates will be subject to the federal estate tax under the new tax law, but estate planning is still important for investors.

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Deductions shift significantly with tax reform

Deductions shift significantly with tax reform

Taxpayers may find some provisions of tax reform more complex as deductions shift significantly under the new law.

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Understanding the new small business tax deduction

Understanding the new small business tax deduction

Tax reform legislation introduced a new tax deduction for small businesses that are structured as pass-through entities.

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Charitable giving strategies for the new tax landscape

Charitable giving strategies for the new tax landscape

Investors are considering which charitable giving strategy to use if they are not itemizing deductions under the new tax law.

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Key tax figures for 2018

Key tax figures for 2018

The tax rate schedule, recently released by the Internal Revenue Service, includes key tax figures investors will need for financial planning.

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Understanding tax reform is critical for financial planning

Understanding tax reform is critical for financial planning

The potential for tax cuts to expire creates a challenge for financial planning and it is critical for investors to understand the new tax reform law.

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What is changing in Social Security in 2018?

What is changing in Social Security in 2018?

An increase in inflation is resulting in a cost-of-living increase in Social Security benefits in 2018, as well as adjustments to tax-exempt earning levels.

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Saving for a rainy day is a priority for many in 2018

Saving for a rainy day is a priority for many in 2018

Some investors start the new year with resolutions to improve their financial situation, and many include an emergency — or rainy day – fund for unexpected expenses.

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Senate and House agree on final tax bill

Senate and House agree on final tax bill

A House and Senate conference committee agreed on a final tax bill that is expected to pass this week.

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Three year-end planning reminders for investors

Three year-end planning reminders for investors

Despite the ongoing tax reform debate and potential for change, there are some key year-end planning considerations and deadlines that remain for 2017.

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Tax reform clears another hurdle

Tax reform clears another hurdle

A House-Senate conference committee will need to iron out the differences following Senate passage of a tax reform bill that differs from the House version.

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Potential changes to deductions make tax planning critical

Potential changes to deductions make tax planning critical

The current tax reform debate in Washington makes tax planning critical as year end approaches.

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Senate tax plan reveals big differences from House proposal

Senate tax plan reveals big differences from House proposal

The Senate revealed its tax plan last week, which differs significantly from the House version.

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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.