Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
December 12, 2017
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
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.
Potential changes to deductions make tax planning critical
The current tax reform debate in Washington makes tax planning critical as year end approaches.
Senate tax plan reveals big differences from House proposal
The Senate revealed its tax plan last week, which differs significantly from the House version.
Gifting strategy may provide tax advantage for some seniors
Seniors age 70½ and older may benefit from a unique provision of individual retirement accounts (IRAs) when considering gifting strategies.
House Republicans unveil tax reform plan
House Republicans introduced a tax reform bill that would reduce tax rates, eliminate some taxes, and make changes to certain deductions.
Managing risks in retirement? Consider a three-bucket strategy
Investors may want to consider a three-bucket strategy to manage risks in retirement such as longevity and liquidity risk.
Heirs of large estates may miss a valuable tax deduction
Some large estates will owe estate taxes this year and there is a valuable tax deduction that is often overlooked.
Understanding longevity is critical to retirement planning
With longevity increasing, investors need to make sure their savings last as long as they do.
Life events can be an opportune time to connect with the next generation
When children inherit wealth from their parents, they may seek guidance elsewhere if they do not have a relationship with their parents' advisor.
Administration unveils plan to cut taxes and simplify tax code
The Administration's tax reform plan proposes to cut taxes for individuals and corporations, raise standard deductions, and eliminate certain taxes.
There’s still time to reverse course on a Roth IRA conversion
As the deadline approaches, there is still time for investors to reverse or recharacterize, a Roth IRA conversion.
Planning for college: High school seniors close in on the finish line
For families planning for college, the senior year of high school has many deadlines and preparations for parents and students.
Planning for college: High school juniors sharpen focus on goals
When planning for college, the junior year of high school is busy as parents look deeper into financial aid and juniors sharpen their focus on goals.
Considerations for property loss in the wake of Hurricane Harvey
In the wake of Hurricane Harvey homeowners may seek assistance in making claims for property loss.
Planning for college: Considerations for high school freshmen and sophomores
Planning for college for parents and students can begin as early as freshman and sophomore years in high school, and help families stay on track.
Consider creating a checklist as students head off to college
Parents may consider creating a checklist for the financial considerations involved when students head off to college.
Higher education tax breaks may be overlooked
There are several tax-advantaged provisions for higher education in the tax code that may be overlooked as multiple provisions may cause confusion.
Don’t lose sight of discretionary spending in retirement plan
Planning for both discretionary spending as well as essential expenses is important when saving for retirement.
House and Senate proposals include tax cuts in ACA repeal
Tax relief and the elimination of health insurance mandates could be realized if proposals to repeal the Affordable Care Act (ACA) advance on Capitol Hill.
Trends in living arrangements require a fresh look at planning
Because marital status plays a prominent role in financial rules, living arrangements such as non-traditional households may result in planning challenges.
Soaring health costs create opportunity for HSAs
Many savers with access to HSAs are using these accounts to save for future health costs.
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.