Wealth Management Center
Preserving and enhancing wealth for the future with financial-planning experts Bill Cass and Chris Hennessey
Tax outlook and planning considerations
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.
Lawyer and CPA, Faculty Director, Babson College School of Executive Education, is a member of the Putnam Business Advisory Group.
ADVISOR-ONLY WEBCAST SERIES
November 9, 2023
Top year-end planning considerations
Bill Cass, CFP®, CPWA®, Director Wealth Management Programs at Putnam
Chris Hennessey, Lawyer and CPA, Putnam Business Advisory Group
Looking beyond the basics of HSAs
In order to take advantage of the tax benefits, it is important to take a deeper look at HSAs and understand how they work.
Ten income and estate tax planning ideas for 2024
Taxpayers may want to consider these income and estate tax planning strategies to save more and try to reduce taxes.
Rising debt may drive future higher taxes
At some point, the debt trajectory will drive discussions on Capitol Hill to increase revenue, which could result in higher taxes.
Spouses have more flexibility when inheriting IRAs
The tax code gives preference to spousal beneficiaries with more choices and potentially more advantageous tax treatment of required distributions.
How to avoid a misstep with a backdoor Roth contribution
It is important to note there are some potential mistakes to be avoided when executing a backdoor Roth strategy.
Early preparation may help taxpayers glide through tax season
Looking back may be the first step in moving forward on filing taxes for 2023. Some key tax documents have already ...
There is still time for sole proprietors to fund a retirement plan for 2023
There is still time for sole proprietors to establish a retirement plan for 2023. And this year, some individuals may ...
What's in store for SECURE 2.0 this year
The SECURE 2.0 Act, signed into law in late 2022, was a follow-up to the original SECURE Act passed in ...
Key tax figures for 2024
In reviewing tax and financial plans, taxpayers will want to consider key tax figures that are changing in 2024.
There is still time to make the most of charitable giving
It is important to review charitable giving plans before year in order to meet deadlines for certain strategies.
Consider the ripple effects of a Roth conversion
Here are several considerations including possible impacts on future taxes for individuals considering a Roth conversion.
Estate planning actions to consider before year-end
As year-end approaches, there are several strategies for investors to consider as they review their tax and estate planning.
Seven year-end planning ideas for retirement savings
There are several planning ideas for retirement savings at year end that may help taxpayers avoid costly mistakes and improve tax efficiency.
Year-end planning ideas for 2023 to lighten the tax burden
As year-end approaches, there may be steps taxpayers can take to better manage their current tax bill or to hedge ...
Year-end planning review checklist
This checklist for year-end planning may help advisors identify ways to minimize taxes and other potential benefits.
Changes to key figures for Social Security, Medicare in 2024
Recently announced key figures for Social Security and Medicare for 2024 include changes to benefit amounts and premium costs.
Open enrollment presents opportunity to change Medicare plans
Medicare holds an open enrollment period that allows participants to sign up or make changes to existing plans, which could result in cost savings.
Unraveling the 10-year rule
The SECURE Act 10-year rule set new guidelines for distributing inherited retirement accounts and has impacted retirement planning.
Preparing heirs before a loved one passes
Individuals may want to prepare heirs with a final planning guide before a loved one passes away.
Consider looking close to home when seeking a loan
An interfamily loan may be a viable alternative to a current mortgage for family members looking to buy a home.
Consider these ways to shield assets from litigation
An asset protection strategy should be part of any financial plan to protect assets from creditors and litigation.
Key FAFSA changes will impact student aid
Important changes to the FAFSA filing will take effect this year and impact student aid levels for some families.
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.