Capital Advisory Group January 2020

119 Old State Rd., Ellisville, MO 63021 THE WEALTH ZONE A Solid Tax Strategy Is Within Sight YOUR OUTLOOK FOR THE NEW YEAR: 20/20 VISION JAN 2020

Happy New Year! It’s hard to believe it’s already here, isn’t it? The year seemed to fly by. Nevertheless, we’re embracing the energy that celebrating this new beginning gives us. Now we just need to remember to start writing 2020 on everything ... In January, we’re almost given a grace period to make right on things we didn’t get done in the last year. If you didn’t achieve your goal weight or get to the gym as often as you’d hoped in 2019, you can begin again with healthy intentions. If you didn’t call your parents as often as you should have, well, don’t let another year slip by without picking up the phone every once in a while. In the tax realm more than any other, we’re truly given a chance to start fresh in the new year. Your 2020 taxes aren’t dictated by what you did in 2019 (with a few exceptions), meaning you can go into the month feeling energized and ready to implement a tax strategy. Maybe it’s your first time doing that, and if so, we have some tips and suggestions for how to approach it. It seems fitting that the year is 2020 because that’s exactly the type of vision we want to go into the new year with. It doesn’t take as much time as you might think, and it’s not something you need

to (or should) attempt on your own. By working with us to define this year’s priorities, we can create a path to where you want to be by the end of 2020. Were there tax deductions you wish you’d taken advantage of last year? Did you not get around to setting up a 529 plan? Were your 401(k) contributions lackluster? Organize some of those regrets, and instead of spending time fretting over them, determine if those tasks are still important to you.Then, make a plan to carry them through. If you didn’t make as many charitable contributions as you wanted in 2019, you can begin to implement a month- by-month contribution plan. For other contributions, turn to the appropriate entity to get automatic deductions set up. By taking these tasks step by step,

you’ll prevent yourself from getting burnt out. Carrying out a tax strategy will feel surmountable — possibly even exciting. In addition to New Year’s, Martin Luther King Jr. Day, and Houseplant Appreciation Day (yes, apparently that’s a thing), January also commemorates Law Enforcement Appreciation Day on Jan. 9. We may be a little biased with our son and grandson in the St. Louis County PD, but we think they’re the best, and we appreciate all that they do to keep our community safe. As always, when you need to talk tax strategy and how to implement a smart one, we’re here for you. We look forward to helping you make 2020 your best year yet! -Jeff and John Zufall

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