From a series of meetings and presentations with investors and advisors around the country in the first three months of this year, tax uncertainty has emerged as the leading financial planning concern. While the passage of federal tax legislation in … Continue reading
Beginning in 2014, businesses with more than 50 full-time employees will be required to provide health insurance coverage or face a penalty, as the federal health-care reform legislation continues to be implemented. Some businesses already offering health insurance may also … Continue reading
Health-care reform legislation introduced a payroll tax increase and a new Medicare surtax this year. While the rise in payroll tax was automatic for taxpayers with a specific income level, the 3.8% investment surtax does not apply to all forms … Continue reading
New taxes took effect this year as a result of the 2010 health-care reform legislation that may have an impact on tax-planning strategies. As of January, the Medicare payroll tax increased to 2.35% from 1.45%. In addition, a 3.8% surtax … Continue reading
Limitations on tax deductions for high earners and a reduction in expected Social Security benefits are among many provisions in President Obama’s FY 2014 budget proposal. The $3.77 trillion budget, released this week proposes more than $1 trillion in savings … Continue reading
The new federal tax law expands the use of Roth IRAs in retirement plans, opening the door for tax diversification. Roth savings accounts were introduced to 401(k) plans by the Economic Growth and Tax Relief Reconciliation Act of 2001. This … Continue reading
While the House this week approved a budget plan for FY 2014, the Senate continues to debate a starkly different proposal. As the budget process progresses, neither plan is likely to garner bipartisan approval, but the proposals illustrate the differences … Continue reading
2013 Tax rates, schedules, and contribution limits from Putnam Investments
The deadline for making a contribution to an individual retirement account (IRA) for last year is April 15, 2013. As clients seek ways to reduce taxable income, it is an opportune time to talk about IRAs. Consider offering your clients … Continue reading
While the new federal tax law brought good news for most taxpayers, there may be confusion for others trying to determine when certain tax provisions apply. The tax reform items are linked to income thresholds with different definitions of “income.” … Continue reading
Taxes increase for certain taxpayersThe passage of the American Taxpayer Relief Act of 2012 established new thresholds for tax increases on income, capital gains, and dividend tax rates.
Income tax planning strategiesInvestors need to be mindful of the implications from the new tax law when considering tax strategies in 2013.
Estate tax rules set new environment for planningClients and advisors should start by reviewing their current estate plans and key documents to find where the new law creates opportunities.
Exploring the advantages of college savings plansPutnam’s Wealth Management experts Bill Cass and Chris Hennessey and education savings specialist Judy Minsk discuss ways to assess college savings programs in light of current trends and market conditions.
Is a Roth conversion right for your clients?
Putnam's Roth IRA Conversion Evaluator is a quick and visual way to see if your client can benefit from a Roth conversion.