Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
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Webcast: Tax outlook and strategies in the Biden era
February 23, 2021 | Taxes
Wealth management professionals offer a tax outlook and discuss tax smart strategies under the Biden era.
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About this blog
Financial-planning experts Bill Cass and Chris Hennessey weigh in each week with a range of insights about complex financial planning needs.
William Cass, CFP®, CPWA®
Director of Wealth Management Programs for Putnam.
Chris Hennessey
Lawyer and CPA, Faculty Director, Babson College School of Executive Education, is a member of the Putnam Business Advisory Group.
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.
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.
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.
Lawmakers call for SALT revival
Several lawmakers on Capitol Hill have introduced legislation calling for a revival of the SALT deduction.
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.
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.
Post-election outlook for taxes, planning: Webcast
Amid uncertainty following the 2020 elections, market volatility is likely to continue: Webcast
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.
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.
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.
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.
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
Putnam pros discuss taxes in the run-up to the election
Putnam's wealth management professionals share their views on taxes, the markets, fiscal policy, and the November election.
Key changes for charitable giving in 2020
In 2020, more taxpayers may be able to take tax deductions on their charitable giving as a result of provisions in the CARES Act.
Pandemic could reduce Social Security benefits
The pandemic is taking a broad economic toll causing many workers to earn less which could reduce Social Security benefits in the future.
Using a 529 plan when college is remote
Families may consider using funds from a 529 plan to cover qualified expenses even if their child is studying remote this fall.
Strategies during a college gap year
While college students may decide to take a gap year, families can continue to plan for the completion of the college program.
Back-to-school planning during the pandemic
While navigating the changing back-to-school landscape , families can still focus on planning and saving for the future.
Use high school years to implement a road map to college
Consider creating a plan to prepare for college during the high school years.
Pandemic underscores need for college checklist
This fall, preparing a college checklist may be more important than ever as the ongoing pandemic is affecting how colleges re-open.
Planning as the pandemic response evolves
The federal response to the pandemic continues to evolve, creating considerations for financial planning.
RMD waiver expanded for all investors in 2020
The IRS released new guidance that expanded the RMD waiver for use by all investors in 2020.
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.