Carlson Capital Management

Integrated Wealth Management

Menu
  • Our Firm
    • Who We AreFirmly grounded in foundational values, and intensely focused on each client’s well-being, Carlson Capital Management has been redefining partnership for more than thirty years.
    • Our TeamOur approach to wealth management is to surround you with a team of experts who work together to integrate all of the key financial disciplines into one plan.
    • HistoryKey events and milestones since the founding of our firm in 1987.
    • Community CommitmentIn the same way that we value the deep and lasting partnerships we have with our clients, we place a strong value on being partners in our communities.
    • Mission StatementOur team is guided by this mission each and every day. It’s what gets us up in the morning, and sometimes keeps us awake at night.
    • Zero Alpha GroupFounded in 1995, the Zero Alpha Group community is a national network of eight independent investment advisory firms.
    • Close
  • Our Clients
    • Client ProfileOur clients are individuals, families, businesses and foundations with many varying goals and situations, but one thing in common – the need and desire for integrated solutions.
    • Fiduciary StandardsIntegrity, trust, expertise and care are hallmarks of the CCM experience. They are at the root of all we do and the essence of who we are.
    • Fee StructureOur independent, fee-based status allows us to focus on one simple thing: what is in the best interest of our client.
    • Make a ReferralThe majority of new clients come from referrals from current clients. Access information that introduces colleagues and friends to Carlson Capital Management.
    • Close
  • Our Approach
    • Foundational ValuesOur deep commitment to each client we serve is built upon foundational values like honesty, hard work, and a strong sense of personal dedication.
    • Integrated ExpertiseOur unique, integrated approach to wealth management unlocks opportunities that our clients and their families deserve.
    • Disciplined PerspectiveOur long-term perspective provides the patience, guidance and discipline required for steady growth and protection.
    • Independent InsightOur independent, fee-based structure ensures the highest levels of objectivity, integrity, and fiduciary responsibility.
    • Close
  • Services
    • Integrated Wealth ManagementOur Integrated Wealth Management approach surrounds clients with a team who apply their expertise to integrate all of the financial disciplines.
    • Carlson PortfoliosCarlson Portfolios offers a solution for clients whose situations are less complex than a traditional CCM Integrated Wealth Management client.
    • Retirement Plan ServicesComprehensive integrated retirement plan solutions.
    • Institutional Portfolio ServicesInvestment advisory and fiduciary consulting for foundations, endowments and associations.
    • Risk ManagementSome things in life are predictable, while others are random. Managing risk is as important as seeking opportunities.
    • American Center for PhilanthropyWe develop and implement a philanthropic plan that matches your desire to make a difference and leave a legacy.
    • CCM Tax & Trust AdministrationA commonly-held affiliate of CCM that provides tax return preparation services.
    • Carlson TrustProvides trust solutions for clients whose financial, family or business needs require the services of a professional fiduciary.
    • Close
  • News and Resources
    • Recommended ReadingArticles and resources to give you access to our top picks in investment education, timely industry perspectives, interesting data and financial planning insights.
    • Articles and PublicationsA library of topical publications and articles written by CCM team members specifically for our clients.
    • CCM In the NewsA collection of articles, links and press releases featuring CCM, including interviews in publications and features in national industry rankings.
    • Video LibraryShort videos that introduce you to our team, our approach and the CCM story.
    • Women’s InitiativeResources and information related to CCM’s Women’s Initiative: Promoting the Financial Empowerment of Women.
    • Introduce CCM to OthersThe majority of new clients come from referrals from current clients. Access information that introduces colleagues and friends to CCM.
    • Close
  • Contact Us
    • Request a ConversationTake the next step in learning more about our integrated wealth management services by requesting a conversation with one of our advisors.
    • Contact Our TeamEmail one of our team members directly or send a general inquiry to the firm.
    • Client Servicing ContactsFind the CCM team member who can help with your specific question or request.
    • Join a MeetingJoin your scheduled meeting with Carlson Capital Management.
    • LocationsWe always appreciate the opportunity to meet face-to-face in one of our offices or at a location convenient to you.
    • CareersLearn about employment opportunities and apply online.
    • Close
  • Request a Call
  • Client Login

COVID-19 Tax Relief

Kevin Koski – Carlson Capital Management
Kevin Koski, CPA

Principal Tax Advisor
651.319.8067
Email Kevin

Professional Biography
Kevin Koski serves as Principal Tax Advisor at Carlson Capital Management and with CCM Tax & Trust Administration, a commonly-held affiliate of Carlson Capital Management. Kevin works closely with the advisory team to deliver clients fully integrated wealth management services, lending his experience to proactive tax-related planning. As a senior member of the Tax Team, Kevin plays a lead role and helps to oversee the preparation, review, and completion of individual and trust tax returns and tax projections. Kevin participates in client meetings and serves as a tax resource for clients, both individually and collaboratively with other advisors, to develop customized recommendations.

Kevin came to CCM with strong expertise having worked with clients at a St. Paul CPA firm for 15 years. In his role there, Kevin provided leadership and direction for the firm’s tax services practice, and advised clients on income and estate tax matters. Kevin was also an advisor on general financial planning topics such as stock option analysis, charitable planning, and gifting strategies for high-net-worth individuals and families. Kevin is a member of the American Institute of Certified Public Accountants and the Minnesota Society of CPAs.

Kevin grew up in Virginia, Minnesota and is a graduate of the University of Minnesota-Duluth, where he earned his bachelor’s degree in accounting. Shortly following graduation, Kevin earned his Certified Public Accountant (CPA) status. Outside of work, Kevin has three children and enjoys volunteering as a coach and assistant with their athletic teams. Kevin and his family reside in South Minneapolis.

Kevin and other members of the CCM Tax Team regularly post articles of interest on tax planning topics which you can find here.

Kevin Koski
Kevin Koski, CPA
Principal Tax Advisor

At the onset of the COVID-19 pandemic, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was passed to provide economic relief to people across the United States. With the continued impact of COVID-19, the IRS has issued further guidance on the provisions of the CARES Act to expand the opportunity for economic relief.

Coronavirus-related Distributions

In March, it was announced that the CARES Act will provide favorable tax treatment for qualified individuals receiving up to $100,000 of coronavirus-related distributions from retirement plan accounts between January 1, 2020 and December 31, 2020, including: exemption from the 10% early distribution penalty; the option to report the taxable distribution over three
years; and the option to roll the funds back within three years to avoid taxation on the distribution.

The CARES Act defines a qualified individual as an individual:

  • Who is diagnosed with COVID-19;
  • Whose spouse or dependent is diagnosed with COVID-19; and
  • Who is experiencing adverse financial consequences as a result of:
    • Being quarantined, furloughed, laid off, or having work hours reduced;
    • Being unable to work due to lack of childcare; and
    • Closing or reducing hours of business.

In late June, the IRS issued notice of expanded eligibility under the definition of a qualified individual to include an individual:

  • Who is experiencing adverse financial consequences as a result of:
    • Reduction in pay or self-employment income or having a job offer delayed or rescinded; and
    • Having a spouse or member of the household experience adverse financial consequences for any of the reasons previously stated.

The notice further clarified that any qualified individual may take a coronavirus-related distribution whether there is a financial need for it or not.

Required Minimum Distribution Waivers

In addition to the distribution relief detailed above, the CARES Act provides for a waiver of required minimum distributions (RMDs) in 2020 for retirement account owners and beneficiaries.

When the CARES Act was first announced in March, it did not provide specific guidance on what options may be available to those who had already taken an RMD distribution in 2020. However, in late June, the IRS announced that anyone who had already taken a 2020 RMD as an owner or beneficiary of a retirement account will have the opportunity to roll the funds back in order to avoid taxation. The notice also waives the one rollover per year rule for purposes of returning an RMD already taken. The rollover must be completed by August 31, 2020, in order to qualify under the notice.

We will continue to provide relevant updates as they’re announced. If you have any questions on the application of the new guidance and how it may impact your specific financial situation, please contact us.

Related content: Highlights of the CARES Act

NOTE: The information provided in this article is intended for clients of Carlson Capital Management. We recommend that individuals consult with a professional adviser familiar with their particular situation for advice concerning specific investment, accounting, tax, and legal matters before taking any action.

  • Twitter
  • LinkedIn

Published July 20, 2020 Topics: CARES Act, RMDs, Tax Planning

DO NOT DELETE

News & Resources

  • Articles and Publications
  • CCM In the News
  • Recommended Reading
  • Video Library

Topics

Active Management Alternative Investments Annual Returns Bond Portfolio Brexit CCM Women's Initiative Charitable Giving Dimensional Fund Advisors Discipline Diversification Economy Estate Planning Financial Advisors Financial Planning Financial Planning for Women Inflation Integrated Wealth International Investing Investment Insight Investor Returns IRAs Market Conditions Market Volatility Politics and Markets Portfolio Management Rebalancing Retirement Planning Tax Planning Tax Reform Women and Investing

Contact Us

Contact us for a complimentary discovery meeting or for a second opinion on your current financial plan.

Contact Us

Email Updates

Sign up here to receive CCM articles and updates by email:

Subscribe

Our Clients

Client Profile

Fiduciary Standards

Integrated Wealth Management

Carlson Portfolios

Our Firm

Our Team

News and Resources

Locations

Careers

Compliance

Important Disclosure Information

Privacy Notice

Form CRS

Form ADV Part 2A

Contact Us

Request a Conversation

Contact Our Team

952.230.6700

© 2023 Carlson Capital Management, LLC, d/b/a Carlson Capital Management.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.