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COINed: Commentary | Observations | Insights | News

Congress passes the SECURE ACT, what do the changes mean for me?

Attached to the large spending bills that Congress passed just before the end of the 2019 legislative session were some last-minute provisions that will have an impact on personal finances in 2020 and beyond. The “Setting Every Community Up for Retirement Enhancement” (SECURE) Act includes some important changes to the rules regarding Individual Retirement Accounts (IRAs), as well as some narrower changes to other aspects of the tax code. The following is a high-level update on a few of the items that are likely to have the widest and largest impact.

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Social Security Adjustments for 2020

Each year the Social Security Administration announces cost of living adjustments that impact the monthly benefit to recipients for the following calendar year. As the New Year approaches, you can expect the following changes to apply to those enrolled in Medicare and receiving benefits from Social Security in the 2020 calendar year.

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Levin: How to get tax benefits from giving in the post-tax reform world

In the movie “Knives Out,” an 85-year-old mystery author of enormous means has decided he no longer wants to financially support any of the adults in his family.

Needless to say, he doesn’t live much longer after he tells them (this is not a spoiler), and the question of whether it was a suicide or a whodunit colors the film.


Levin: It’s a good time to notice those who are struggling

Soon we will gather around our Thanksgiving tables, expressing gratitude for the good things in our lives. We will probably be sitting with those who share with us more similarities than differences. For some reason, this Thanksgiving, I am thinking about “The Other.”

The Other are those who are socially, economically, politically, religiously or simply just different from us. Not only do we not connect with them, but we may make them bad in order for us to be good.


Becky Krieger named as one of the 2019 Top Women in Finance in Minnesota

Accredited is thrilled to announce that Becky Krieger, Managing Director, Client and Community Outreach, has been named by Finance & Commerce as one of the 2019 Top Women in Finance in Minnesota.

Finance & Commerce has been honoring Minnesota’s Top Women in Finance each year since 2001. Per the publication, the Top Women in Finance honors program “recognizes women who are making an impact not only in their professions but also in their communities in Minnesota.”


Choosing a Financial Advisor – Part 4

In the final installment of our four-part Choosing a Financial Advisor Series, we explain why the “right” fit when it comes to choosing an advisor can only be found after gaining an understanding of exactly what you want and need from an advisory relationship.

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Choosing a Financial Advisor – Part 3

In our previous posts, we’ve explored the importance of determining fee structures of advisory firms, and the differences between a suitability standard and a fiduciary standard.

When evaluating the ability of an advisor to deliver the needed level of services and solutions, however, few topics are more important than understanding the collective capabilities of the team of individuals comprising a firm.

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Levin: Taxes don’t have to be as painful as we make them out to be

Taxes can’t be fair. There is a huge gap between a 0% tax rate where services that industry can’t deliver are otherwise covered and a 100% tax where there is no incentive to work for pay. Any numbers in between will seem fair to some and not to others. In Minnesota, we are acutely affected by taxes and we have three choices: eliminate them, limit them or appreciate them.

A music lover can listen to Austin’s bluegrass, Nashville’s country, Seattle’s grunge, or Miami’s bass — all in cities in states with no income tax. If you don’t need to earn your living here, you can eliminate state income tax by moving. We have had many clients who have done so. People often turn this departure into a moral issue, but set aside the judgment and view it through the cost/benefit lens and you may someday make a similar choice.