Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
September 25, 2018
This October marks the last chance that investors can undo – or recharacterize – a 2017 Roth conversion.
Three top financial challenges facing Millennials
Millennials face different financial challenges than previous generations as they set goals for saving for retirement, paying debt, and buying a home.
Five questions to ask your estate planning attorney about the new tax law
Estate planning remains important for investors despite changes under the new tax law.
Ten questions to ask your CPA about the new tax law
The new tax law could have a significant impact on how individuals and small businesses file income taxes and make tax planning decisions.
IRS proposes additional limits for small business tax deduction
While many small businesses are navigating the changes introduced by the TCJA, the IRS is proposing additional limits for the small business tax deduction.
Planning considerations for college-bound high school students and their parents
While college may seem a distant goal for a high school freshman, there are many things students and parents need to do during high school to prepare.
Understanding the paths to securing college financial aid
College financial aid plays a critical role for many families paying tuition and some colleges and universities require two types of aid applications.
A student’s health-care proxy can remove barriers for parents in case of an emergency
Parents may also want to prepare some documents such as a health-care proxy before their child leaves for college in case of an emergency or illness.
Under tax reform, there is no turning back on a Roth conversion
Under tax reform, reduced marginal tax rates are lowering the cost of a Roth conversion, but the ability to reverse the move is eliminated.
Next steps when the first college bill is due
Many parents sending children to college for the first time may need help with financial advice and maximizing their 529 plan when the college bill is due.
Consider these strategies before interest rates climb higher
With many financial plans tied to IRS interest rates, there are several strategies that investors may want to consider before rates move higher.
Number of taxpayers owing AMT to decline under tax law
Fewer taxpayers will have to pay the alternative minimum tax (AMT) because of changes resulting from the Tax Cuts and Jobs Act (TCJA).
Will taxpayers pay more or less under the new kiddie tax rules?
Families with assets in custodial accounts for minors are wondering how the new tax law will impact those accounts, as changes were made to the kiddie tax.
LGBT couples may have to navigate unique planning considerations
The path to achieve many financial goals, such as estate planning, may present specific challenges for LGBT couples, particularly those who are not married.
Families with 529 college plans garner more savings
While more families choose a general savings account to save for college, those using 529 college plans are saving more, according to Sallie Mae.
Three ways that tax reform strengthens ABLE accounts
Recent tax reform resulted in changes that allow families to save more in ABLE Accounts for the care of a child with disabilities.
How to use a 401(k) to fund a Roth IRA
Despite income restrictions there may be a way to super-charge your Roth IRA by using a provision for 401(k) plans.
College planning strategies: Engaging children in saving can advance college goals
Build momentum for college saving before your child enters high school, by engaging children in good savings habits and monitoring your saving strategy.
College planning strategies: It’s never too early to start saving
Considering the many responsibilities competing for family savings, it’s never too early to consider college planning strategies.
Will taxpayers owe more or less in their tax bill next year?
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.
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.
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.
Tax rates lowered, deductions limited in tax law
The tax reform law lowers tax rates and imposes new limits on many deductions.
Many deductions changed in new tax law
The standard deduction doubles while some popular tax deductions are limited or eliminated by tax reform.
Estate planning remains vital
Despite higher exclusion levels for federal estate taxes, estate planning remains vital for taxpayers.
Corporate tax cuts slated for 2018
Corporations will have lower tax rates and new rules for expensing resulting from tax reform.
Tax reform creates new deduction for small businesses
Understanding the new 20% deduction for business income is key for small business owners.
New tax law influences individual planning
Individuals may consider various strategies for charitable giving and financial planning in the new tax environment.
$30T in wealth transfer creates opportunity
Advisors may consider expanding their value proposition and professional network to grow their business.
Top strategies for advisors when heirs inherit wealth
Learning about an investor's family can help advisors connect with the next generation.
Social strategies for meeting the next generation
Start with social media and expand to social events to reach out to the next generation of clients.
Use family meetings for more effective wealth transfer
Hosting a family meeting can help investors and their children focus on values, planning issues, and philanthropy.
College savings plans offer tax advantages
Explore tax-advantaged savings when planning for college.
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.