Capital Advisory Group November 2019

119 Old State Rd., Ellisville, MO 63021 THE WEALTH ZONE A SEASON OF GRATITUDE NOV 2019

November brings some important messages to the forefront. Not only do we celebrate Thanksgiving, but Veterans Day is also this month. Both days recognize important aspects of life and the many reasons we have to give thanks. There are so many things to feel grateful for: the people who’ve sacrificed life and limb to protect our country, the beautiful state we live in, and the fact that we get to do the work we love. In the day-to-day hustle and bustle, it’s so easy to forget the simple joys of having food on the table, a home to come to at the end of the day, and the people in our lives we get to spend holidays and special occasions with. Of course, there’s someone very important we haven’t mentioned yet: You. As a family-run business, your support is huge for us. Your trust in us to do good work for you and your family is not overlooked. We are so grateful you’re part of our community. If this season inspires you to share what you have with others, there are many ways to do it. Whether you choose to give your time to local food banks and serve Thanksgiving meals, donate food to those who don’t any, or make monetary donations to causes you believe in, these contributions can help you feel like a part of something bigger than yourself. One of the local causes doing so much good in our community is Joachim &

Ann Care Service, a local nonprofit that provides case management and support to individuals in crisis, including those experiencing homelessness. Another is a national nonprofit, Court Appointed Special Advocates (CASA), with a local chapter that provides advocacy for children who’ve been through abuse or neglect. CASA is one of only three organizations in Missouri that qualifies for Champion for Children tax credits, and donations of $100 or more are eligible for a 50% tax credit on Missouri income tax, in addition to other deductions. Many similar types of donations are also tax-deductible. It’s pretty wonderful when giving back also helps you make the most of your taxes, right? As we near the end of the year, consider where you want to make your last contributions. Make sure you hang onto receipts so you can use them for your tax-deductible contributions.

When it comes to charitable donations, you can maximize what you give with a little planning, knowing that you’re giving back and making a strategic move for yourself and your family.This will be important when it comes time to determine whether you should take the standardized deduction or opt for itemized deductions. As always, being diligent about tax documentation will pay off come next spring. Inside the newsletter, we have more details about charitable contributions and how they fit into your overall tax strategy. As always, if you have any questions or want to get things in order, we’re happy to talk to you. Have a wonderful month and enjoy the holidays with your loved ones as you reflect on everything you are grateful for.

-Jeff and John Zufall

(636) 394-5524 1

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