Wealth Management Center

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


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When to choose a non-hardship 401(k) withdrawal

May 5, 2021  |  Retirement/Income

Some 401(k) plans allow investors age 59½ to take a non-hardship 401(k) withdrawal, providing the option to transfer savings to an IRA without penalty.

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When to choose a non-hardship 401(k) withdrawal
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When to choose a non-hardship 401(k) withdrawal

When to choose a non-hardship 401(k) withdrawal

Some 401(k) plans allow investors age 59½ to take a non-hardship 401(k) withdrawal, providing the option to transfer savings to an IRA without penalty.

More »

White House proposes tax hikes for high earners

White House proposes tax hikes for high earners

The administration released a new proposal including spending for education, childcare, healthcare, nutrition, and other family support as well as tax hikes for high earners.

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Proposed tax hike may drive shift in business structure

Proposed tax hike may drive shift in business structure

A Biden administration proposal calls for a tax hike for corporations. If approved, it may impact how certain business owners structure their business.

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The tax bite on retirement income may surprise retirees

The tax bite on retirement income may surprise retirees

Challenges can emerge for investors who have not planned for the impact of taxes on retirement income.

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Tax season is a good reminder of 529 plan tax benefits

Tax season is a good reminder of 529 plan tax benefits

Tax season can provide a good reminder that 529 plans offer significant tax benefits for families looking for fund college education.

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10 ideas to use a Roth IRA to mitigate higher taxes

10 ideas to use a Roth IRA to mitigate higher taxes

Investors may want to consider certain strategies to hedge against the risk of higher taxes, including using a Roth IRA conversion.

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Three options to change stepped-up cost basis rules

Three options to change stepped-up cost basis rules

Potential changes to stepped-up cost basis rules may emerge as lawmakers consider federal revenue needs.

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Direction of estate taxes among top advisor concerns

Direction of estate taxes among top advisor concerns

Most advisors are closely monitoring tax policy as it is not yet clear what proposals around estate taxes will be introduced on Congress’s agenda this year.

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Four key tax changes in the new pandemic relief bill

Four key tax changes in the new pandemic relief bill

In addition to broad relief measures, the latest pandemic relief bill includes several tax changes that could impact planning.

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Top questions from advisors about taxes

Top questions from advisors about taxes

Advisors are fielding many questions about taxes and the outlook for tax increases under the new administration.

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Webcast: Tax outlook and strategies in the Biden era

Webcast: Tax outlook and strategies in the Biden era

Wealth management professionals offer a tax outlook and discuss tax smart strategies under the Biden era.

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Next steps for investors who withdrew funds under the CARES Act

Next steps for investors who withdrew funds under the CARES Act

Individuals who withdrew retirement funds under the CARES Act have options for filing and paying taxes.

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Webcast: Learn about tax planning in the Biden era

Webcast: Learn about tax planning in the Biden era

In 2021, investors continue to face change, with the impact of the first 100 days of the Biden administration and the potential for a shifting tax landscape.

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Lawmakers call for SALT revival

Lawmakers call for SALT revival

Several lawmakers on Capitol Hill have introduced legislation calling for a revival of the SALT deduction.

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Three estate planning strategies for 2021

Three estate planning strategies for 2021

Investors may want to consider estate planning strategies as tax provisions impacting federal gift and estate taxes will sunset after 2025.

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Top tax-planning ideas for 2021

Top tax-planning ideas for 2021

The current tax environment and potential for higher tax rates in the future create an opportunity for tax planning strategies to hedge future higher taxes.

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Five key changes proposed by Secure Act 2.0

Five key changes proposed by Secure Act 2.0

The House last week introduced a bipartisan bill, known as Secure Act 2.0, to expand retirement plan participation and savings.

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Retirement savings tax advantages may change under Democratic proposals

Retirement savings tax advantages may change under Democratic proposals

Some tax proposals introduced by the Democratic presidential campaign may cause changes to retirement savings accounts.

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Change in administration may mean tax changes

Change in administration may mean tax changes

With uncertainty around the upcoming elections, it is not clear what types of tax changes may be implemented under a new administration.

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Video: Consider a Roth to prepare for future taxes

Video: Consider a Roth to prepare for future taxes

With the possibility of future higher tax rates, investors may want to consider strategies that can be implemented now such as a Roth IRA conversion.

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Video: Tax rates may rise in the future

Video: Tax rates may rise in the future

With the current economic pressures, some investors may be focusing on the tax landscape and the possibility of higher tax rates

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Tax season planning under the TCJA

A new perspective on tax deductions

Optimize the small-business tax deduction

Estate planning considerations before the law sunsets

New strategies emerge for Roth conversions

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.

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.