Wealth Management Center

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


Strategies to manage the repeal of the advisory fee deduction

Strategies to manage the repeal of the advisory fee deduction

January 23, 2019

The repeal of miscellaneous deductions, including the advisory fee deduction, may have an impact on some taxpayers’ filings.

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November 14, 2018

Year-end planning strategies under tax reform

William D. Cass, CFP®, CPWA®, Director Wealth Management Programs at Putnam
Christopher P. Hennessey, Lawyer, CPA, Member, Putnam Business Advisory Group

Cost-of-living increase among changes to Social Security in 2019

Cost-of-living increase among changes to Social Security in 2019

For investors preparing for or in retirement, two key changes to Social Security, including a cost-of-living increase take effect this year.

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Key tax figures for 2019

Key tax figures for 2019

A first step for investors in tax planning for the coming year is to determine their tax bracket and highlights of key tax figures can be helpful guide.

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Two provisions under the TCJA will change for 2019

Two provisions under the TCJA will change for 2019

While most of the new provisions of the TCJA went into effect in January there are additional tax code changes that will take effect at year end.

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Tax reform enhances college savings plans

Tax reform enhances college savings plans

The Tax Cuts and Jobs Act resulted in the largest overhaul to the tax system in 30 years, including some key changes to 529 college savings plans.

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Charitable IRA rollovers may gain traction under tax reform

Charitable IRA rollovers may gain traction under tax reform

With new limits on itemized deductions set by tax reform, senior investors may consider using a charitable IRA rollover provision to donate to charity.

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Five estate planning considerations for year-end

Five estate planning considerations for year-end

Estate planning remains critical as investors seek to manage the distribution of assets as well as meet any state tax requirements.

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Year-end considerations for smart income-tax planning

Year-end considerations for smart income-tax planning

The tax reform law created a new tax landscape that could have a significant impact on year-end income-tax planning.

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Three retirement planning topics for year-end meetings with investors

Three retirement planning topics for year-end meetings with investors

As year-end nears, retirement planning becomes a focus for investors, especially retirees who have year-end deadlines for retirement income distributions.

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Tax law creates benefits for taxpayers to invest in Opportunity Zones

Tax law creates benefits for taxpayers to invest in Opportunity Zones

Tax reform has created an opportunity for investors to defer taxes on capital gains if they invest in so-called “Opportunity Zones”

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Gift while living or transfer assets to heirs at death?

Gift while living or transfer assets to heirs at death?

Individuals can choose to make a gift while they are living, or include it in their estate plan for distribution upon death.

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Rules for NOLs change under tax reform

Rules for NOLs change under tax reform

Business owners may want to review their tax filing strategies as tax reform made some significant changes to the rules for managing net operating losses (NOLs).

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What is down the road for tax reform?

What is down the road for tax reform?

A new tax reform package recently passed the House, but its future in the Senate is uncertain.

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Investors should consider umbrella coverage when crafting a financial plan

Investors should consider umbrella coverage when crafting a financial plan

Investors may overlook a serious risk to their net worth — creditor risk — and as a result not carry excess coverage such as umbrella insurance.

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Last chance to undo a Roth conversion

Last chance to undo a Roth conversion

This October marks the last chance that investors can undo – or recharacterize – a 2017 Roth conversion.

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Three top financial challenges facing Millennials

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.

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Five questions to ask your estate planning attorney about the new tax law

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.

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Ten questions to ask your CPA about 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.

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IRS proposes additional limits for small business tax deduction

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.

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Planning considerations for college-bound high school students and their parents

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.

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Understanding the paths to securing college financial aid

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.

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A student’s health-care proxy can remove barriers for parents in case of an emergency

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.

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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.