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.
  • 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.
  • 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.
  • 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.
  • 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.
  • 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.
  • Request a Call
  • Client Login

Highlights of the Most Recent COVID-19 Relief Bill

Kevin Koski
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 wholly-owned 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

There are myriad ways to describe 2020. One word that I suspect resonates for everyone is pivot. With all of the new and changing legislation last year, the CCM Tax Team analyzed and strategized and reanalyzed and restrategized on behalf of clients more times than I can count. And we suspect with the most recent election results in Georgia, we’ll continue to pivot throughout 2021. But for now, let’s start with what we know.

On December 27, 2020, President Trump signed the Consolidated Appropriations Act of 2021 into law, which includes more than $900 billion allocated to pandemic-related relief. Highlights of the bill include the following:

Additional Direct-to-Taxpayer Rebates

Additional stimulus payments of up to $600 per eligible family member, including taxpayer, spouse, and qualifying children, will be distributed in the same manner as the earlier payments under the CARES Act ($1,200 for taxpayer/spouse and $500 for qualifying child). These additional payments will be calculated based on reported income on 2019 tax returns and will be phased out as income exceeds $75,000 for single filers or $150,000 for joint filers. If you qualify, the status of your payments can be tracked by visiting the IRS website at https://www.irs.gov/coronavirus/get-mypayment. The stimulus payment information will be reported and reconciled with the filing of 2020 income tax returns where you can claim additional credit if your income in 2020 is lower than the income used by the IRS to calculate the advance payments.

Paycheck Protection Program (PPP) Loan Updates

The bill includes additional funding for PPP loans to include access to a second round of loans for businesses hit most hard by the pandemic based on loss in revenue. The bill also overrides an IRS interpretation by confirming that the forgiveness of PPP loans will not result in taxable income or the loss of business deductions.

Above-the-Line Charitable Contribution Deduction Extended

The CARES Act allowed for an above the-line-deduction (i.e. available for those who do not itemize deductions) for cash charitable contributions of up to $300 for single or married taxpayers for tax year 2020. The new bill extends this provision to tax year 2021 and increases it to a maximum of $600 for married taxpayers for 2021.

Above-the-line Charitable Contribution Deduction Extended

The following provisions have been included in the Act and are of interest to a great number of our clients:

  • The AGI (Adjusted Gross Income) threshold for determining deductible medical expenses is permanently reduced to 7.5% of AGI from 10%.
  • Business-related meal expenses are 100% deductible for tax years 2021 and 2022, rather than 50%.
  • Federally assisted unemployment benefits are extended for an additional 11 weeks.
  • Employer reimbursements of student loan payments of up to $5,250 annually are excluded from an employee’s income through the end of 2025 under an employer’s qualified educational assistance program.

CARES Act Relief Provisions NOT Extended

Notably, the Act did not extend certain relief provisions under
the CARES Act to tax year 2021 including:

  • Waiving Required Minimum Distributions (RMDs) from retirement accounts, which were waived for tax year 2020.
  • Coronavirus Related Distributions with favorable tax and penalty attributes, which were allowed for tax year 2020.
  • Tax filing and payment dates, which were delayed for returns or payments due in 2020.

As 2021 continues to take shape, we’ll keep you informed of relevant changes in tax laws and work proactively alongside CCM advisors to deploy tax strategies that support your goals.

If you ever have any questions about your tax situation, we encourage you to connect with your CCM advisor.


Key 2021 Tax Figures

From tax rates to HSA contribution limits and estate tax exclusions, many important tax-related figures have been updated. See a table of some of the most commonly referenced data here: carlsoncap.com/2021-tax.


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.

PLEASE SEE IMPORTANT DISCLOSURE INFORMATION.

  • Twitter
  • LinkedIn

Published January 15, 2021 Topics: Integrated Wealth, 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 Interest Rates International Investing Investment Insight Investor Returns IRAs Market Conditions Market Volatility Politics and Markets Portfolio Management Rebalancing Retirement Planning Tax Planning Tax Reform

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

  • Home
  • Our Firm
  • Our Clients
  • Our Approach
  • Services
  • News and Resources
  • Client Login
  • Careers
  • Contact Us

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply. Please review other Important Disclosure Information related to this website.
 

© 2022 Carlson Capital Management, LLC, d/b/a Carlson Capital Management.