|
June 2013 Published for the confidential use of clients and professional associates. |
|
CASE STUDY SPOTLIGHT: CORNERSTONE HELPS CLIENT RESTRUCTURE RETIREMENT PLAN, LEADING TO INCREASED EMPLOYEE PARTICIPATION AND PLAN ASSETS |
At Cornerstone Private Asset Trust Company, we meet many business owners who excel at running their businesses, but are not experts when it comes to managing their company's retirement plan (and do not wish to be). In the same way that successful business owners often rely on a management team to keep them informed of activities critical to the company's success, your company retirement plan deserves the same attention and management. As your retirement planning partner, we can work with you to ensure that the retirement plan you offer your employees is effective, attractive, and ultimately meets the overall needs of your company. Read more... |
|
MINNESOTA OMNIBUS TAX BILL CREATES GIFT TAX FOR STATE RESIDENTS | |
By Roben D. Hunter, JD, CPA, CVA, MAFF
The Minnesota House and Senate recently passed the Minnesota Omnibus Tax Bill. Part of the Bill creates a Minnesota Gift Tax of 10% on cumulative gifts over $1 million. Minnesota is only the second state in the country to impose such a tax, after Connecticut. However, the legislature gave us a window of opportunity before the imposition of the tax. The gift tax is effective for gifts completed after June 30, 2013. If you or any Minnesota resident you know desires to gift, please ask them to seek out their advisors as soon as possible to complete the gifts before the June 30 deadline. |
|
DISCUSSION OF THE MINNESOTA OMNIBUS TAX BILL | |
By Roben D. Hunter, JD, CPA, CVA, MAFF
As discussed above, part of the Minnesota Omnibus Tax Bill creates a Minnesota Gift Tax of 10% on cumulative gifts over $1 million. That, however is not the only provision that created an additional tax for Minnesotans. Here are a few other significant provisions created by the bill. Read more... |
|
THE RETIREMENT GAMBLE: FEEDBACK ON PBS'S RETIREMENT DOCUMENTARY | |
By Jon T. Meyer, CFP®
New York Times contributor Thomas Friedman (and fellow Minnesotan) recently wrote an interesting column entitled "It's a 401(k) World." He pointed out that over the last decade, our society has shifted towards empowering individuals to do, create, manage, and collaborate for their own benefit. For the self-motivated, this is a world of opportunity. Read more... |
|
GOOD INTERNAL CONTROL IS GOOD BUSINESS | |
By Lowell A. Jobe, CPA
When Congress hurriedly passed to the Sarbanes-Oxley Act of 2002, it aimed to combat fraud, improve the reliability of financial reporting, and restore investor confidence. Understandably, most executives wondered why they should be subjected to the same compliance burdens as those who had been negligent or dishonest. Read more... |
|
EMPLOYEE ANNOUNCEMENTS | |
MEET THE BGM ST. PAUL TEAM
TAX CALENDAR
|
|
CONTACT US
4470 W 78th St Circle Suite 200
Bloomington, MN 55435
952-844-2500
St. Paul office:
332 Minnesota Street Suite E-1100
St. Paul, MN 55101
651-227-9431
|
|
|
|
|
