An Update from the Tax Team: Is Mortgage Interest Still Deductible?

Kevin Koski
Kevin Koski, CPA
Principal Tax Advisor
Published April 16, 2019

Among many other changes we’ve highlighted in recent communications, the Tax Cuts and Jobs Act of 2017 changed the rules regarding home mortgage interest tax deductions for tax years 2018-2025. Many CCM clients have had questions about this so we wanted to share some key factors that will determine the deductibility of interest paid on a mortgage loan.  The mortgage must qualify as acquisition debt in order for the interest to be deductible as home mortgage interest. Acquisition debt is ... [Continue Reading]

An Update from the Tax Team: Key Tax Figure Updates for 2019

Kevin Koski
Kevin Koski, CPA
Principal Tax Advisor
Published January 17, 2019

As the new year begins it brings many important tax-related limits, rates, and deduction updates to be noted. Included below are some of the key items for CCM clients to be aware of. Be sure to contact any member of our Tax Team with questions on how these changes may impact your integrated wealth management planning for 2019 or future years. NOTE: The information provided in this article is intended for clients of Carlson Capital Management. We recommend that individuals consult with ... [Continue Reading]

Questions to Consider for Year-End under the Tax Cuts and Jobs Act of 2017

Kevin Koski
Kevin Koski, CPA
Principal Tax Advisor
Published October 16, 2018

With the fourth quarter of the year upon us and given the many changes brought to bear by the Tax Cuts and Jobs Act of 2017, it is the opportune time to consider some very key questions as it relates to your 2018 taxes. The answers to these questions are critical in determining appropriate actions to take before the end of the year in order to optimize your tax situation. Will the total of your itemized deductions exceed the new higher standard deduction? The increase in standard deduction ... [Continue Reading]

An Update from the Tax Team: Charitable Giving Strategies in Light of the Tax Cuts and Jobs Act of 2017

Kevin Koski
Kevin Koski, CPA
Principal Tax Advisor
Published April 17, 2018

The Tax Cuts and Jobs Act of 2017 has become a catalyst for taxpayers to revisit their charitable giving strategies. Under the new law, many taxpayers will no longer be able to itemize deductions on a regular basis due to the following changes: The standard deduction has been increased from $12,700 to $24,000 for a married couple filing jointly ($26,600 if both spouses are age 65 or older) and from $6,350 to $12,000 for a single taxpayer. The deduction for state income taxes and real ... [Continue Reading]

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