Capital Advisory Group - February 2022

Capital Advisory Group - February 2022

119 Old State Rd., Ellisville, MO 63021 THE WEALTH ZONE KINDNESS MAKES THE BIGGEST IMPACT Show Your Compassion This February CapitalAdvisoryGrp.com February 2022

February isn’t always an easy month. The weather is still damp and cold, and the days feel exhausting with long nights and short bursts of daylight. And do I need to mention that it’s tax season? (Like we could ever make you forget!) We know it’s everyone’s least favorite season of the year. It’s no wonder we all experience a little cabin fever and irritation in February. But this month also has a little-known holiday that I believe

So, I agreed. It felt like the easy and right choice. The employee warned me that the person for whom I paid would see my name and other personal information on the receipt, since I was paying with a credit card. But in the moment, I was so happy to help others that I didn’t care. Later, I realized this wasn’t the wisest move; it’s not a smart idea to give out your personal information. But then I remembered how I

“That’s the power of a random act of kindness. Its ripples are far-reaching, long after we complete our act.”

has a powerful message for our late-winter blues. Random Acts of Kindness Day on Feb. 17 asks us to remember our humanity. It calls on us to do something nice for someone just because we can and because it might inspire others. It’s a humbling opportunity.

felt at that moment when I was told my lunch had been paid for. I was shocked and touched by such a simple gesture. If I could give that opportunity to someone else, then the risk that they might discover some information about me was worth it. (Plus, most people toss receipts or lose them on the floor of their cars anyway.) I’ve never forgotten that McDonald’s trip. (I can’t say the same for other trips to the drive-thru.) And I hope it serves as a bit of inspiration for you. Paying for the meal for the person behind me was the easiest thing I could do that day to hopefully give someone something to smile about. And it started because someone in front of me decided to pay it forward, and the person in front of them did the same, and so on.

I would know; I seized an opportunity to complete a very random act of kindness just a few years ago.

On that day, I pulled up to the McDonald’s drive-thru, and I was told that the person in front of me had paid for my lunch. Turns out, this had been happening for quite some time that day. The employee asked if I wanted to do the same for the person behind me, and I was completely touched. I wasn’t expecting it; I simply chose McDonald’s for a quick, easy lunch so I could get back to work. 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.

That’s the power of a random act of kindness. Its ripples are far- reaching long after we complete our act.

This February, let’s strive to be kinder. Pay for someone else’s meal, hold the door open, donate to a cause you believe in, or leave a gift for a friend who needs a boost. It takes just moments to change the trajectory of someone’s day, and with just one action, you can create a ripple effect that changes communities.

My only word of advice: Maybe use cash instead of your credit card. Let’s make the world a kinder place in 2022.

-Jeff Zufall

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If you were an immigrant who just arrived to New York City in the 1880s, you probably didn’t have much money to spare. But, if you had at least 10 cents, you could rent a pushcart and become a pushcart merchant and business owner. A BIG NYC ATTRACTION BECOMES ILLEGAL The 1930s and Pushcart Markets For more than 50 years, pushcart markets in New York City offered immigrants immediate access to an $828 million industry (in today’s money) that sold competitively priced goods like groceries, household items, clothing, and much more. Pushcart merchants would line up their carts along the streets of New York City and create vibrant and diverse markets that even tourists could enjoy. But not everyone in the city seemed happy about it.

Meet Mary Barra FROM ‘CAR GIRL’ TO CEO OF GM According to an interview with Stanford Magazine, Mary Barra is a self-proclaimed red convertible “car girl.” Her eyes gleamed as she talked about the day she first saw her cousin’s Chevy Camaro convertible, a late ‘60s vintage model. At that moment Barra knew she’d love cars forever, so she worked on cars as soon as she could. In fact, she was only 18 years old when she started working for General Motors (GM). She worked her way up while earning a couple of college degrees, and she held multiple engineering and administrative positions at GM, including managing the massive Detroit/Hamtramck assembly plant. By 2014, Barra became the CEO of GM and was the first female head of a “Big Three” automaker in the United States. It was a dream come true — her appointment even earned her a spot on Time’s 100 Most Influential People in the World of 2014.

Although technically “merchants,” in the late 1800s and early 1900s, pushcart sellers were not described as such. Many of New York City’s middle class and wealthy residents reserved this favorable term for sellers who had brick-and-mortar stores since they did not see pushcarts as a traditional means of honest work. Instead, they saw it as a public nuisance and a source of embarrassment. Politicians, city planners, and anti-pushcart movements complained primarily

However, during her first year as CEO, GM faced one of the worst scandals in the U.S. auto industry: the GM ignition switch scandal.

Faulty switches resulted in 124 deaths and 275 injuries, which prompted the Senate to conduct an investigation. Barra’s court appearances led to a public outcry against GM, forcing the company to recall nearly 30 million cars due to their defective ignition switches. Although no federal charges were pressed against Barra or the GM executives, the company paid $120 million in settlement claims and offered $595 million to victims and families affected by the scandal. Barra’s subsequent actions became key. She fired 15 employees, including eight executives, for failing to respond quickly to the defective ignition switches. Additionally, she initiated GM’s shift toward electric-powered cars, including the Chevrolet Bolt EV, which became the first electric car with a range of 200 miles priced under $40,000, a milestone that warranted significant coverage. According to GM executives, a major reason for Barra’s corporate and entrepreneurial success is not only her passion for cars, but also her skill to listen and communicate well with others. Her “consensus approach” involves conducting town hall meetings to seek input from the majority of people, not just top management. This allows every employee to be heard, and that inclusive environment remains a crucial part of GM’s ability to thrive far beyond its darkest days.

about poor sanitation in the open-air markets. So, in 1938, Mayor La Guardia proclaimed in The New York Times that “peddling on the streets of this city is a thing of the past.” To ease opposition, La Guardia opened indoor markets, which required pushcart sellers to apply for limited spots and pay higher fines. Upon opening the first indoor market, Mayor La Guardia proclaimed to the crowd, “I found you pushcart peddlers, and I have made you MERCHANTS!” Despite the cheers that followed, thousands of pushcart sellers lost their jobs after the final ban of open-air pushcart markets. The ban surprised the people who supported it; some brick-and- mortar stores lost as much as 60% of their business with the decrease in nearby foot traffic. New Yorkers eventually became nostalgic about pushcart markets. Once described as dirty and a “menace to the health of New York City,” people began to describe them as “fresh and attractive,” even “picturesque.” To this day, pushcart selling is still illegal, and New York City’s licensing policies make it extremely difficult for vendors to obtain permits, leading to an underground black market of selling and buying outdoor permits. However, in the city, you’ll still find street food with hardworking vendors making their American dream a reality!

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3 THINGS YOU NEED TO KNOW THIS TAX SEASON

Utilize your tax organizer. By now, you should have received your tax organizer in the mail. (If you have not received yours, please contact our team.) This is a cheat sheet intended to help you record your entire transactional and income history for 2021. If you have additional pieces of information you would like to include, you can record those on a separate sheet of paper. Please return this to our office immediately. These organizers allow us to record information as precisely as possible, so we need the full picture of your year. Start tax prepping now. It’s tempting to forget about taxes once you file, but we would encourage you to spend time reviewing this past season. What was easy, and what did you struggle with the most? Are there ways in which you can better protect your income and keep more of your wealth in 2022? Notify our team today, and we can help you create a better plan for 2022.

We are in the thick of it now, folks! Tax season is well underway, and if you have yet to get started, now is the perfect time to do so. We strongly recommend not putting off tax season any longer than you need to. This will save you stress and the added pressure that comes with filing a verifiable tax return under a time crunch.

To guide you through this season, we’ve put together a list of how-to’s and reminders.

Understand these important deadlines. Tax deadlines are coming up! Remember, if you are filing for an S-corporation, your tax deadline is March 15. All individual and married filing jointly payments are due April 18. (Note that this isn’t Tax Day, or April 15, which is Good Friday.) It’s important to remember that while extensions are available, this only applies to the paperwork that’s filed. All tax payments are due by these deadlines. If you do file an extension, you have until Sept. 15 (for S-corporations) and Oct. 15 (for individuals) to file your paperwork.

As always, please contact Capital Advisory Group with any tax-related questions or concerns.

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!

Chocolate Pecan Fondue

This Valentine’s Day, forget the entree! Surprise your honey with a delicious chocolate treat!

Ingredients

Directions

• 1/2 cup half-and-half cream • 2 tbsp honey • 9 oz semisweet chocolate, broken into pieces • 1/4 cup pecans, finely chopped • 1 tsp vanilla extract • Fresh fruit of your choice

1. In a sturdy saucepan over low heat, combine cream and honey. Stir until mixed thoroughly and heat until warm. 2. Add in chocolate, stirring until melted. 3. Stir in pecans and vanilla. 4. Transfer to a fondue pot or a slow cooker to keep warm. 5. Serve with fruit, cookies, and marshmallows of your choice.

• Shortbread cookies • Large marshmallows

Inspired by TasteOfHome.com

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Inspired by GoodHousekeeping.com

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

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ISSUE INSIDE THIS

page 1

The Power of Kindness

page 2

How Mary Barra Helped GM

page 2

Why an NYC Attraction Became Illegal

page 3

3 Necessary Reminders for Tax Season

page 3

Chocolate Pecan Fondue

page 4

3 Local Date Ideas You Have to Try!

3 SPOTS TO CHECK OUT Local Date Night Ideas

Explore natural scenery at Creve Coeur Park. One of our region’s most beautiful attractions is Creve Coeur Park. Just 30 minutes west of St. Louis, Creve Coeur Park is a natural escape with gorgeous views all year long! Take a walk with your sweetheart down one of the many trails at the park, or enjoy a friendly game at the tennis courts. You could even pack a picnic and enjoy lunch or dinner with a view at one of the park’s many shelters. And don’t forget to go back when the weather is a little nicer. Creve Coeur Park now offers a scenic water “trail” for boaters to explore.

February is a month for romance, and if you’re looking for the perfect date night idea that’s sure to impress without being too cheesy, look no further than St. Louis! Check out these spots.

Show off at Top Notch Axe Throwing. Stir up some friendly competition at Top Notch Axe Throwing. Described as bowling or darts but with axes, an evening at Top Notch Axe Throwing is sure to be something a little different. Their experts explain that all you have to do is “wrap both hands around the ax handle, lift over your head, and aim for that bull’s eye!” Easy, right? If not, it will be a fun adventure! You can carry in food and drinks (no hard liquor), so pack a “picnic” and toss some axes.

Enjoy a great meal at the Sidney Street Café.

There’s something for every palate on the menu at Sidney Street Café. Chef Kevin Nashan combines his Spanish heritage with classical French training and the beauty of Midwestern and Southern cuisine to create powerful, mouthwatering favorites. The best part? The café creates dishes from food grown in its garden! Be sure to start with some signature appetizers, split a few entrees — or opt for the a la carte menu — and don’t skip dessert. We guarantee you will leave full and happy.

You can find other great date night ideas at ExploreStLouis.com.

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