Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
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A financial plan can help LGBTQIA+ investors overcome challenges
June 14, 2021 | Estate and Wealth Transfer
Despite progress on marriage equality and workplace protections, some in the LGBTQIA+ community face challenges around finances and other legal issues.
Tax outlook and planning considerations
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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.
A financial plan can help LGBTQIA+ investors overcome challenges
Despite progress on marriage equality and workplace protections, some in the LGBTQIA+ community face challenges around finances and other legal issues.
Treasury offers more details on tax proposals
Taxpayers receive more clarity on recent tax proposals from the Treasury.
Tax-planning ideas and opportunities in the muni market
Given the possibility of higher taxes in the future, investors may consider reviewing tax planning ideas and consider opportunities in the muni market.
Identify year-round tax ideas from a 1040 form
For many, the 2020 tax filing deadline is over, and it may be time to look at the year ahead and identify year-round tax ideas from a 1040 form.
More clarity on Secure 2.0 retirement bill
A new retirement bill, known as Secure 2.0, recently passed a key House committee and will be considered by the full House at some point.
Ways to drive a 529 plan to its full potential
There are many ways that families saving for college can use a 529 plan to its full potential.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Top questions from advisors about taxes
Advisors are fielding many questions about taxes and the outlook for tax increases under the new administration.
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.
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.