Capital Advisory Group May 2019

Capital Advisory Group May 2019

THE

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

MAY 2019

Far too often, we see people waiting until the last minute to think about their taxes. It’s like waiting until the month before your wedding to plan it — you can do it, but it’s not going to be pretty. Year after year, you will find yourself stressing about and overpaying on your taxes. The good news is there’s a better way. You might be thinking, “Jeff, April 15 has passed. Why are you talking about taxes?” Here’s the reality: If you only think about taxes during one month out of the year, you are doing yourself — and your bank account — a disservice. Last month, the book I wrote about tax planning and strategy, “Keep What’s Yours,” was No. 1 on Amazon for a week. I’m not trying to toot my own horn. You know what that No. 1 spot says to me? It tells me there’s a great demand for tax planning and strategy. People are getting wise to a fact we’ve known for a long time at Capital Advisory Group: 92 percent of business owners overpay on their taxes . Far too many people don’t worry until it’s time to file. At that point, it’s too late to be strategic with your taxes. Many small-business owners and people in general are overpaying on their taxes Let’s Talk Tax Strategy THE BIG PICTURE

and missing out on opportunities to keep what’s theirs. A lot of people think the IRS is out to get them, but changes to the tax code are actually meant to benefit business owners; you just have to know how to navigate them. There are strategies you can (and should) employ throughout the year to set yourself up for a much better tax season and year. We’re talking about simple changes that can help you keep what’s yours — changes to the way you itemize deductions to get the most out of business expenses, for example. By looking at changes to the tax code and how they affect you and how you can use them to your advantage, you can stop losing out on what’s yours. But you have to plan ahead to make it happen. Tax strategy is part of an ongoing conversation with us.The more we know about your circumstances ahead of time, the better we can help you plan. With

this big-picture strategy, you’ll already know exactly where you stand by the time you get to tax season. Doesn’t that sound amazing? Tax strategy takes the guesswork out of taxes and sets you and your business up for success. There are many great CPAs out there, but we notice a lot of them aren’t talking about tax strategy.That’s what we’re here for. We see the big picture so you can keep more of what’s yours. Let’s have that conversation. -Jeff and John Zufall P.S. Don’t miss out on your opportunity to get a free copy of our tax-strategy and tax-planning guide, “Keep What’s Yours: How to Leverage the New Tax Law to Create Unfair Advantage Over Your Competition.” Find it at TheNewTaxLawAdvantageBook.com/ offer-page25326725.

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THE POWER OF ‘MINDSET’

Vacations can come with great expense, and not just for your bank account. According to a 2018 study published in Nature Climate Change, travel accounts for 8 percent of global greenhouse gas emissions. Cut through the greenwashing and do your part to lessen these emissions by traveling sustainably. TRAVEL GREEN When possible, trains, hybrid buses, and carpooling are great alternatives to larger, more environmentally intrusive travel methods. Large cruise liners are detrimental to oceans, and airplanes emit large amounts of toxins into the air. However, you can cruise and fly with the earth in mind. Some cruise lines are working to reduce their impact by installing more eco-friendly lighting and materials, and flight experts recommend using “green” airports, choosing fuel-efficient airlines, staying longer, and traveling less. If anything, it’s an excuse to extend your European vacation! STAY GREEN Where you stay impacts the environment as much as how you get there. Hotels use copious amounts of water for bathing and laundry, and they struggle to reduce energy because guests leave their lights and televisions on. However, many luxury resorts, woodsy cabins, and even entire countries have opted to make eco-tourism easier. If you’re looking for a region of the world committed to preserving nature, look no further than Iceland, Finland, and Sweden, which are ranked the three most environmentally friendly places in the world. DO GREEN Man-made attractions like the Egyptian pyramids and Machu Picchu are some of the world’s greatest wonders, but Earth itself is pretty breathtaking. Check out natural attractions while hiking or camping in preserved forests, or soak up all the Caribbean has to offer by snorkeling, scuba diving, sailing, kayaking, canoeing, and paddleboarding. When you’re mindful of your surroundings and remain unobtrusive, there are endless outdoor activities you can explore. Some locations even partner with environmentally conscious organizations you can donate to or volunteer with. Opt for a green vacation and know that while you relax, the earth is getting a little relief too. Get Out There With These Eco-Tourism Tips GO GREEN

How Being Open to

Growth Leads to Success

For decades, Dr. Carol S. Dweck studied the phenomena of success. How is it that some people are able to grow their business, stay fit, or achieve their personal goals while others in similar situations stall out? “Mindset” is Dr. Dweck’s answer to this question. Subtitled “The New Psychology of Success,” this book chronicles the Stanford psychologist’s findings, which suggest an inseparable link between belief and achievement.

According to Dr. Dweck, people tend to think about the challenges in front of them in one of two ways.They either have a “fixed” mindset — believing that their talents and abilities are static, intrinsic properties of who they are — or a “growth” mindset — believing they can improve every aspect of themselves with practice and perseverance.Those who approach life’s hurdles as an opportunity for growth are the ones who find long-term success. If you’ve ever said “I’m just not good at math” or “I’m not a natural leader,” you’ve fallen into the fixed mindset trap. If you believe there’s nothing you can do to change your circumstances, you’ll never strive to improve them.The same is true of positive fixed opinions of yourself. Dr. Dweck points out that those who believe themselves to be “a great boss” or “an amazing athlete” are also doing themselves a disservice. Once you think your skills are tied to who you are as a person, you’ll avoid challenging them for fear they might be found wanting.This leads your talents to atrophy as you seek detours rather than facing challenges head-on. Dr. Dweck argues that, instead of falling victim to the pessimism and self-delusion that defines fixed mindset thinking, we need to recognize that the path to success lies in open-minded perseverance. “A person’s true potential is unknown (and unknowable),” she says. “It’s impossible to foresee what can be accomplished with years of passion, toil, and training.” Not only does “Mindset” drive this point home with well-documented experiments and studies, but it also provides a workshop to help people break free of their fixed mindset and find success.

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3WAYS TO IMPLEMENT TAX STRATEGY IN 2019 ‘Keep What’s Yours’

Like getting a checkup at the doctor’s, you should see your tax advisor and strategist regularly to take care of your financial health. As Jeff shared on the cover, you can’t wait until tax season to implement a tax strategy — it starts now . Here are three ways to implement a 2019 tax strategy for a healthier year. 1. KNOWWHAT’S DEDUCTIBLE. Donations to a nonprofit? Meals with a business client? Start tracking those deductible expenses now so you don’t have to scramble come next spring. Enter these deductions into your accounting software and file away relevant receipts to set yourself up for success in the coming year. 2. MEET REGULARLYWITH YOUR ADVISOR. Like that annual checkup, meeting regularly with us helps you

develop a strong long-term strategy for your financial health. Even if nothing in your life or business has changed, tax laws do change, and we can help you stay up to date and adjust when they do. 3. WORKWITH A TAX STRATEGIST. Just about any competent tax advisor can help you prepare your taxes, put the forms together, and get them filed by the deadline. But a tax strategist will learn your circumstances and priorities and develop a long-term strategy based on you .They’ll increase your tax awareness so you can get the most out of your taxes for your situation.They’ll

also help create tax savings that outweigh the cost of creating those savings. Jeff ’s tax-strategy book, “Keep What’s Yours” goes in depth on the topic to help you do exactly what the title of the book implies — hold onto more of your earnings. Discover how proactive tax- strategy planning will help you keep more of what’s yours. From there, you’ll get to use what you were paying in taxes to reach your financial goals. Get your copy of Jeff ’s tax-strategy book here: TheNewTaxLawAdvantageBook. com/offer-page25326725.

Ingredients TAKE A BREAK SHRIMP SAUSAGE SKEWERS

• 1/2 pound raw shrimp, peeled and deveined • 1/2 pound cooked sausage, cut into 1-inch pieces • 2 zucchini, cut into 1/2-inch cubes • 2 tablespoons extra-virgin olive oil • Wooden skewers, soaked in water for 30 minutes Creole Seasoning Ingredients • 2 tablespoons paprika • 1/2 tablespoon garlic powder • 1/2 tablespoon onion powder • 1/2 tablespoon cayenne or chili powder • 1/4 tablespoon dried oregano • 1/4 tablespoon dried thyme

Inspired by PaleoLeap.com

Directions

1. Heat your grill to medium-high. 2. In a bowl, combine all ingredients for creole seasoning. 3. In a large bowl, combine the shrimp, zucchini pieces, and sausage pieces, and cover them with the olive oil. 4. Add creole seasoning and mix well until all ingredients are covered. 5. Load up skewers with alternating pieces of shrimp, sausage, and zucchini until they’re full. 6. Grill skewers until shrimp are well-cooked (6–8 minutes).

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

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The Big Picture

page 1

How to Travel Sustainably

page 2

How Being Open to Growth Leads to Success

page 2

Make the Most of Your 2019 Taxes

page 3

Shrimp Sausage Skewers

page 3

Ways to Appreciate

page 4

Mother’s Day andTeacher AppreciationWeek CELEBRATING THE PEOPLEWHO RAISED US

This month, we celebrate Mother’s Day on May 12 and Teacher Appreciation Week starting on May 6. It seems fitting that these two events are in the same month, because they both highlight heroes who play significant roles in development. Here are a few ways to give back to those who’ve given us so much. 1.WRITE A LETTER. Words can speak louder than actions when they’re presented in the form of a meaningful letter. Pen one to your

truly thoughtful message telling them how much they mean to you. 2. DONATETO A LOCAL CLASSROOM. Did you know that many teachers use their own money to purchase supplies and books for their classrooms? Schools often

this toward your charitable donations for the year, so file away those receipts.) 3. SURPRISETHEMWITH FLOWERS OR A SWEETTREAT. Small tokens of gratitude go a long way to show someone how much they are valued. Maybe you can bring donuts to your child’s school or give a coffee gift card to their teacher. What about making a home-cooked meal for your mother and asking her to tell you all about her life? Mothers and teachers have nurtured us, raised us, helped us determine our career paths, and stuck around when the going got tough. However you do it, take a moment this month to celebrate these special people in your life and thank them for what they’ve given you.

don’t have a budget for those additional costs, so the money comes out of a teacher’s own pocket. You can have a big impact by contributing money, books, or other supplies to a local school or teacher. If your children or grandchildren have a teacher they always talk about, honor that educator this month by contributing funds, supplies, or books. (Plus, you can count

mom and another to a teacher who made a positive impact on your

4 CapitalAdvisoryGrp.com life. Take the time to think about that person and compose a

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