Financial Planning

Articles and resources related to Financial Planning.

What You Should Know About The Secure Act of 2019

Kevin Koski
Kevin Koski, CPA
Principal Tax Advisor
Published June 5, 2019

What some are referring to as one of the most significant pieces of legislation related to retirement planning in more than a decade, the U.S. House of Representatives recently passed what has been coined the SECURE (Setting Every Community Up for Retirement Enhancement) Act, by an overwhelming and bi-partisan vote of 417-3. The bill will now move to the U.S. Senate where it also appears to have bi-partisan support. As the bill is very likely to become law in the coming weeks or months, ... [Continue Reading]

Minnesota Individual Income Tax Changes Represent Federal Conformity

Kevin Koski
Kevin Koski, CPA
Principal Tax Advisor
Published June 5, 2019

As a result of the Omnibus Tax Bill which was passed during Minnesota's recent legislative special session, then signed by Governor Walz on Friday, May 31, 2019, Minnesota individual income tax law will now largely conform to federal tax law. Our Tax Team will be actively analyzing the changes and will be working with CCM clients in the remainder of 2019 to help optimize your tax situation. In the meantime, following is a summary of the key takeaways from the 2019 Omnibus Tax Bill to be aware ... [Continue Reading]

Investment Insight: A Ten-Year Look Back

Gregory Carlson
Gregory Carlson, CFP®
CEO and Founder
Published May 2, 2019

March 9, 2009, is an important day in our shared history. We didn’t necessarily know it at the time as it took a few months for the significance of the day to reveal itself, but it was on this date when the financial markets hit rock bottom during the Global Financial Crisis (GFC). From that day forward the markets stopped their painful retreat and began to recover. That was ten years ago now, and as we reflect on those ten years, of course there are countless learnings and insights that could ... [Continue Reading]

Reading the Fine Print — Optimizing Your Employer’s Retirement Plan

Matthew Rich
Matthew Rich, CFP®, J.D.
Integrated Wealth Advisor
Published April 17, 2019

When new office employees are starting a new job, they often go through the same routine. The first few days are spent locating the break room, finding a good parking spot, and orienting to the cultural norms. Then there’s the meeting with human resources—you get a key card, complete payroll deduction paperwork, and review compliance documents. Dental insurance? Extra life insurance? How much should the company take out for 401(k) contributions? Pre-tax or after tax? Most people go with the ... [Continue Reading]

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]

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