Capital Advisory Group - June 2022

Capital Advisory Group - June 2022

119 Old State Rd., Ellisville, MO 63021 THE WEALTH ZONE Tax Plan Now, Thank Us Later THEN, WE CAN FORGET ABOUT TAXES CapitalAdvisoryGrp.com June 2022

Now that we’re a few months past tax season, you may have put it all behind you. In fact, if you’re anything like me, you put tax season behind you the moment it ended! You should have seen me on April 19! I took the day off and did absolutely nothing; it was needed. However, the time for forgetting taxes is over. We’re already halfway through 2022, and if this past tax season came with some serious sticker shock, then it’s time to make some changes. I witness this sometimes. We will finish up a person’s taxes, they receive the bill, and that’s when they discover Uncle Sam is asking for a lot more than they anticipated. We hate to see it. After all, we built our business on the idea that you deserve to keep as much of your wealth as possible. (You earned it!) Capital Advisory Group can be the expert to guide you through tax season and financial planning, but we cannot make the decisions for you. Our goal is to provide clients with the guidance they need to manage this season, but it’s what they do with our advice and guidance that impact what they experience during tax season. Simply put: Don’t just stash your tax return in a drawer and forget about it.

what they saw on their 2021 taxes. Take that anger and frustration, and do something that will make tax season 2023 more tolerable.

For example, charitable donations are changing in 2022. In 2021, taxpayers could deduct money from their tax bill if they made cash contributions to charities, regardless if they chose to itemize or not. Those who opted to itemize could claim the deduction up to 100% of their adjusted gross income. So, if your adjusted gross income was $50,000 in 2021 and you donated $50,000 in cash contributions to qualifying charities, you can deduct 100% of those donations if you choose to itemize. However, don’t get too excited. That’s changing in 2022, so these rules no longer apply. If you were banking on this set of rules throughout the year, you will have to adjust how to donate and itemize. If you don’t, you could be left with a shocking tax return come April 2023. I know these rule changes and the landscape of tax season can feel overwhelming. It’s why I did nothing on April 19 and why many people file and forget, no matter how upset they are about their tax bill. But there is good news. While we can never fully get rid of having to do taxes, we can have some control. We don’t have to let tax bills sneak up on us every tax season, nor are we at the whim of whatever choices the government makes regarding tax laws. (Although, I’m not advising you to break the law! You do have to follow it when paying taxes, of course.) Instead, you can use the laws and rules created by the governing bodies to create a tax plan that fits your lifestyle and needs.

With 2022 halfway over, it’s important that you spend some time tax planning. This is especially important for those who didn’t like

Have You Heard Us on the Radio Yet?

Tune in to KTRS 550 AM radio every Saturday from 3–4 p.m. as Jeff Zufall and Josh Gilbert discuss all things taxes and financial planning. From innovative strategies to optimize your benefits to breaking down proposed and current legislative measures, Jeff and Josh guide you through the most pressing topics in the financial world today.

All you have to do to make this a reality is to … well, do it.

My team is happy to help. Give us a call today, and we can provide you with specialized guidance for your tax planning needs. And then, we can all get back to forgetting taxes are a thing we have to deal with.

-Jeff Zufall

(636) 394-5524 1

Published by Newsletter Pro • www.NewsletterPro.com

While the Kentucky Derby may be the most famous race in the sport of horse racing, the Belmont Stakes, which takes place on June 11, is just as important. They are two of the three that trainers need to win in order to complete the Triple Crown. Since 1978, there have only been two horses that have completed the Triple Crown, and they both were trained by Bob Baffert. Over the last 30 years, Baffert has catapulted to the peak of horse racing stardom. Baffert grew up on a cattle ranch in Arizona and got his first experience with horses when he was 10 after his father bought some quarter horses. He practiced with these horses before working as a jockey in his teens, then earned his first victory when he was 17. During Baffert’s time at the University of Arizona, he developed a reputation for training horses and was often hired by other stables. He would continue racing quarter horses until the early 1990s when he switched to thoroughbreds. Baffert would go on to win the Breeders’ Cup in 1992 and won two of the three Triple Crown races in 1997, 1998, and 2011. Exploring the Rise and Fall of Bob Baffert

UNLOCK YOUR ‘HIGH PERFORMANCE HABITS’ AND GAIN LONG-TERM BUSINESS SUCCESS!

Did “Atomic Habits” by James Clear change your life in 2018? Was “Tiny Habits” by BJ Fogg one of your top books of 2019?

If you’ve read those two bestsellers, you’re a step ahead of most entrepreneurs. But you might still be sleeping on one of the original books on the power of habits, which is packed with gems you can’t find anywhere else: Brendon Burchard’s 2017 read “High Performance Habits: How Extraordinary People Become That Way.” Brendon Burchard is a legend in the world of personal development coaching. Oprah.com called him “one of the most successful online trainers in history,” and more than 2 million people have taken his online courses. But with the help of your local library, you can start learning his secrets to success without paying a cent. In “High Performance Habits,” Burchard recommends six specific habits that will help you reach your personal and business goals. He calls this the HP6 model.

While he was still winning the occasional race, his biggest

1. Seek clarity. 2. Generate energy. 3. Raise necessity.

4. Increase productivity. 5. Develop influence. 6. Demonstrate courage.

wins would come in 2015 when American Pharoah became the second horse to win the Triple Crown. But

As you can see, these aren’t your basic healthy habits like “drink water” and “get eight hours of sleep”! Burchard calls the first three “personal habits” and the last three “social habits,” and in the book he uses real-life examples to explain each habit. He also offers daily exercises that will help you form them. It takes multiple keys to unlock each habit. For example, to demonstrate courage, Burchard says you must “share your truth and your ambitions” by telling someone about your goals every day. But that alone isn’t enough. To truly form the habit, you also need to reframe struggle and zero in on someone worth fighting for — whether that’s your team, your clients, or your children. “High Performance Habits” is a business book, but it’s also a personal development book. It will force you to dive deep into your strengths, weaknesses, and motivations to unlock your real high-performance potential. You can use it to fit more tasks into a day, increase your confidence, or become a better leader — whatever your business needs!

Baffert didn’t have to wait long to win it all again. In 2018, Justify

claimed the Triple Crown, solidifying Baffert’s legacy.

Unfortunately for Baffert, that legacy has come under fire

in recent years. Baffert has had 30 horses that he’s personally trained fail drug tests, and under his care, 74 horses have died since 2000. In 2021, Baffert’s horse Medina Spirit took home victory in the Kentucky Derby, but a post-race drug test revealed that the horse tested positive for a prohibited substance. This was Baffert’s fifth violation in a little over a year. Medina Spirit passed away suddenly later that year, causing even more controversy over the legitimacy of the horse’s win. Baffert is currently serving a suspension given by the Kentucky Horse Racing Commission and Churchill Downs and can’t participate in the Kentucky Derby until 2024. When he returns, his sights will be set on his third Triple Crown win.

Pick up a copy today to see why Andrew Burns of Medium calls this “the epitome of a book that needs more than one read.”

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CapitalAdvisoryGrp.com

So Your Heirs Can Access Your Accounts CREATE A DIGITAL PERMISSION SLIP

1Password This app allows you to store information for all digital accounts. It also has an Emergency Kit you must fill out when you sign up. First, you will create a password to access your 1Password account that someone will use when they need access. Then, you can download a copy of the Emergency Kit information and place it in your will or trust for a loved one to use in the future. Keeper Along with storing your passwords, Keeper allows you to store documents, images, and more. If you’re having trouble coming up with a strong password, Keeper will help you create passwords that are difficult to hack. In addition, if you purchase an account, you get a free family plan. This will make it easier for your loved ones to access your accounts. Storing your passwords has never been more accessible, and this will ease some of the stress your loved ones will feel once you pass away. They will be able to manage your accounts and make sure everything is in order and taken care of. With most of us having our lives online, a digital permission slip and safe are needed more than ever.

Good Trust, one of the leaders in the death tech industry, estimates that there are more

than 30 million deceased people on Facebook, and their accounts are still activated — a massive digital graveyard. And, according to a Good Trust, about 90% of people surveyed have no plan for what happens to their digital accounts once they pass away. That’s why it’s imperative to plan for who will be in charge of deactivating or memorializing your social media accounts and who will have access to your online financial information. Then, you can assign someone to take care of your digital presence and have access to your passwords in your will or trust. It’s like giving your loved ones a permission slip into your digital footprint. The key is to store all of your passwords and account information in a password manager. You can put the password to your password safe in your will or trust so the appointed person can access your information. Here are two apps to consider using.

Achieving financial security and success doesn’t always have an easy answer. Our team at Capital Advisory Group is dedicated to helping you protect your wealth, and while doing so, you may have the following questions: • What are the rules when investing in cryptocurrency? • Should I retire during a high inflationary period? • Which form of investing is best for me — active or passive? • What do I need to know if I’m retiring this year? If you are curious about any of the above questions, please call Capital Advisory Group today at (636) 394-5524! Have Questions? We Have Answers!

Summer is here, and you know what that means: It’s time to break out the barbecue and meat skewers! SWEET AND SPICY BBQ CHICKEN SKEWERS

Ingredients

Directions

For the Marinade • 1 tbsp olive oil • 2 tbsp soy sauce • 2 tbsp chili garlic sauce • 2 tbsp rice vinegar • 3 tbsp honey • Juice of 1 lime • 3/4 tsp smoked paprika • 1/2 tsp salt For the Skewers • 2 lbs chicken breast, cut into bite-size cubes • 1 small pineapple, cut into 1-inch cubes

1. In a bowl, whisk together marinade ingredients. 2. In a reusable freezer bag, combine cubed

chicken and all but 1/4 cup of the marinade. 3. Seal bag and massage marinade into the chicken. Chill in the fridge overnight. 4. The following day, preheat the grill to 400 F. Thread chicken and pineapple onto skewers, adding two cubes of chicken for each cube of pineapple. 5. Grill the skewers for 3–4 minutes per side, brushing with the reserved marinade in the final minutes. 6. Serve over rice or with your favorite barbecue sides!

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(636) 394-5524

Inspired by RecipeRunner.com

119 Old State Rd. Ellisville, MO 63021 CapitalAdvisoryGrp.com

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ISSUE INSIDE THIS

page 1

Tax Plan Now to Enjoy the Rest of 2022

page 2

Read This Book to Boost Your Performance

page 2

The Story of Bob Baffert

page 3

The Importance of Storing Your Passwords

page 3

Sweet and Spicy BBQ Chicken Skewers

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Celebrate National Doughnut Day Locally

4 Doughnut Shops for Your Sweet Tooth

Strange Donuts 2709 Sutton Blvd. Look no further if you’re looking for doughnuts with interesting designs and combinations. Strange Donuts creates doughnut sandwiches, cream-filled doughnuts, and all the toppings you can think of. Last year, the company gave out National Doughnut Day shirts for anyone who donated to their nonprofit, Strange Cares, which awards scholarships to students attending acting classes, football camps, and 5K races.

The first weekend of June starts with National Doughnut Day on Friday, June 3. So, if you’re craving a sugary treat to celebrate the occasion, here are four local spots you can go to ease your sweet tooth. World’s Fair Donuts 1904 S. Vandeventer Ave. This mom-and-pop shop serves delicious doughnuts at a low cost. They first opened their doors in 1944 and quickly became a huge hit. They then moved to 1904 S. Vandeventer Ave. in 1973 to honor the year the World’s Fair came to St. Louis — 1904. Get here early because doors open at 6 a.m. and close at 2 p.m. Be sure you also bring cash with you. Donut Drive-In 6525 Chippewa St. This historic doughnut shop will make you feel like you jumped back to the 1950s. Not only with the aesthetic of the building but also because they still use the same recipe as when it opened in 1953. If you get a sugar craving late at night, no worries! Donut Drive- In is open until midnight on Fridays and Saturdays.

Half & Half 8135 Maryland Ave. If you’re looking for a place where you can eat

a generous, well-proportioned meal along with a tasty treat, Half & Half is the way to go. They have delicious breakfast food and breakfast doughnuts. You can end your meal with a cinnamon sugar doughnut with melted chocolate on the side. Best of all, everything they make is from scratch. This is the perfect brunch spot for you and your loved ones.

There is a little something for everyone at these doughnut shops. Maybe you’ll find your new favorite snack. Happy National Doughnut Day!

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Securities offered through Kestra Investment Services, LLC, (Kestra IS), member FINRA/SIPC. Investment Advisory Services offered through Kestra Advisory Services, LLC, (Kestra AS) an affiliate of Kestra IS. Capital Advisory Group, Inc. is not affiliated with Kestra IS or Kestra AS. Neither Kestra IS or Kestra AS provide legal or tax advice and are not certified public accounting firms. KestraFinancial.com/disclosures