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119 Old State Rd., Ellisville, MO 63021 CapitalAdvisoryGrp.com
AUG 2019
Since August is National Golf Month, it’s the perfect opportunity to consider how this popular game can help us be more successful in other parts of our lives. For anyone who’s had an important meeting on the green, you know the connection between sport and business. Golf is a challenging and rewarding pastime, not unlike starting and managing a business. It requires calmness, discipline, and perseverance, some of the same characteristics of an effective leader. Here are three lessons we can take from golf to utilize in our business journeys. THERE’S NO SUCHTHING AS AN OVERNIGHT SUCCESS. Sure, you can have some nice swings, and Lady Luck (or, more accurately, the perfect gust of wind) might grace you. But relying on luck isn’t sustainable in the long term. Just look at Tiger Woods. His comeback has been years in the making; it didn’t happen overnight. He dedicated himself to his goal. Similarly, if you want to bring your business to the next level, you can’t rely on luck alone. You need to have an overarching strategy and be intentional about each move. Especially when it comes to the financial side of your 3 Ways to Up Your Golf Game and Your Business TEE UP!
determines how you perform. When those challenges present themselves, the people who succeed are those who rise to the occasion and make the most of what they’re given. Particularly when it comes to your taxes, there are so many ways you can be strategic and opportunistic with what you get back. Working with a skilled tax strategist to create a game plan will help you make the most of the opportunities available to you. As you suspected, you don’t have to be a golfer to utilize these lessons in your business. They’re applicable to anyone wanting to improve their game, from the tee to the conference room, much like this bit of advice: “In golf as in life, it is the follow- through that makes the difference.” Inside the newsletter, learn about the provision in the new tax code that could affect your next business meeting and how to identify deductions that help you keep more of what’s yours for 2019. -Jeff and John Zufall
business, you need to work closely with an advisor, specifically one versed in tax strategy, if you want to succeed and take your game to the next level quarter after quarter. This brings us to the importance of discipline in golf and business. DISCIPLINE IS AN INGREDIENT FOR SUCCESS. To succeed in golf and business, you need to focus on and dedicate time to improvement. Discipline is key to getting better and ultimately succeeding, whatever that looks like for you. From waking up early to get on the course to reading strategy and connecting with mentors you admire, discipline is crucial. MAXIMIZE EVERY OPPORTUNITY. You approach the ball, and it’s in the worst possible spot. You’re pinned between a sand bunker and water. You take a breath as you consider the best angle. In business and in golf, it’s rare that you’re going to be set up for the perfect shot every time. Often, how you respond to those adverse conditions
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These Young Minds Will Help Your Business Thrive WHAT INTERNS CAN OFFER
AMERICA’SWEIRDEST AIRBNBS
This Ain’t Motel 6!
When Airbnb was founded a little over a decade ago, the developers hoped to provide an alternative to traditional travel accommodations. Today, with annual revenue in the billions, the service is an industry unto itself. While most people use Airbnb to “live like a local” while traveling, you can find some truly wacky lodging options if you spend some time searching the platform. Here are just a few of the many contenders for the title of “Weirdest Airbnb in the U.S.” For ease of searching, the listings here have the same titles as they do on Airbnb. BRAND NEW STUDIO EARTHSHIP Taos, NewMexico Earthships, houses run by clean energy and featuring reused materials, are a fixture of the Taos area.This one, which looks almost like a crashing wave with a living space in its undertow, combines the rustic charm of truly getting away from it all with modern amenities like Wi-Fi and in-home laundry. It’s a truly unique living space surrounded by pristine nature and not far from the historic Taos Pueblo. MANCAVE APARTMENT/AIRPLANE HANGAR Geneva, Florida Airbnb super hosts Dan and Deborah have no shortage of quirky properties for rent — including yurts and treehouses — but their apartment fashioned out of an airplane hangar surely takes the cake. You’d be forgiven for thinking it was a theme restaurant featuring eclectic aviation. Memorabilia lines the walls with a bar front and center, and the bed is in a loft high above the ground. DOG BARK PARK INN B&B Cottonwood, Idaho As you approach the Dog Bark Park Inn, you won’t have to guess if you’re in the right place. After all, how many buildings are shaped like beagles? When describing the space on Airbnb, the hosts make no bones about who this rental is aimed for. “Stay in a giant dog!” they say. In addition to being inside a massive wooden dog, you’ll find canine-themed games, books, and more. Talk about ruffing it.
Often utilized as file organizers, envelope lickers, and coffee fetchers, college interns are usually at the lowliest rung on the corporate ladder. But, as some of the world’s most successful companies have proven, these young team members can be incredibly valuable to your business. If you haven’t considered offering internship positions before, the following benefits might just convince you. PROACTIVE RECRUITING In today’s competitive job market, recruiting a recent college graduate with relevant experience feels like finding a unicorn. But a coveted hire doesn’t have to be one in a million. An effective internship program can give you the opportunity to bring college interns on to your staff who could potentially become full-time employees. And luckily, unlike regular hires, you aren’t making a long-term, expensive commitment to your interns. During their internships, you can test whether or not they will be a great fit for your company before offering them a permanent position. And if an intern impresses you enough to hire them on after graduation, you can rest assured knowing they will already be familiar with their job by then. FRESH PERSPECTIVES There’s a reason top companies like Facebook and Chevron invest heavily in their internship programs. By bringing in young, innovative minds, you open up your business to fresh, unique solutions. Interns have spearheaded effective social media campaigns, modernized standard operating procedures, and even designed apps to help their businesses run smoother. In a world where remaining relevant is key to growth, businesses can’t afford to be out of touch with the next generation of consumers. So, while interns will likely do much of the grunt work at your business, don’t be afraid to hand them more responsibilities. Bring them into strategy meetings, ask for their thoughts, and treat them as valued parts of the team. Do this and you’ll be in step with some of the biggest players in the business world.
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YOU CAN’T DEDUCT THAT GOLF GAME But There Are Plenty of Other Ways to Make the Most of Your Taxes
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.
Sad news for anyone whose favorite part of the day is their business meeting on the green: The new tax bill eliminated your opportunity to deduct a golf game as a business expense. As writer Josh Sens shares in a Golf.com
deducted, there are many other expenses you can list. If you have paid for any business expenses personally (this includes your own business) and have not been reimbursed, it’s time to submit that expense report and get paid. HOLD YOUR ANNUAL MEETING Meeting minutes are an ideal place to document the activity in your tax strategy. All the items on this list should make their way into your annual meeting. Make the minutes of your annual meeting part of your year-end planning. Eager for more ways to maximize your deductions? Jeff ’s tax-strategy book, “Keep What’s Yours” helps you do exactly what
article, buried in the tax reform “is a provision that eliminates a 50% deduction for business- related entertainment expenses. It applies to a range of activities, including concerts, sporting events, and, yes, rounds of golf.” While dinner at the end of the course can still count, the rounds of golf do not. What’s a golf-loving business owner to do? Make the most of the other ways you can optimize your taxes. GET REIMBURSED FOR YOUR BUSINESS EXPENSES This is one of the best ways you can maximize your deductions and keep more of what’s yours. Even without golf getting
Adapted from a recipe by famed Southern chef Sean Brock, these skewers are seasoned in a Senegalese style and served alongside mustard-flavored onions. TAKE A BREAK SENEGALESE LAMB SKEWERS
Ingredients
Directions
For the lamb: • 2 lbs trimmed leg of lamb, cut into 1-inch cubes • 1 tbsp peanut oil, plus more for grilling • Salt and black pepper, to taste For the onions: • 1/2 cup distilled white vinegar
1. In a bowl, coat lamb with 1 tbsp oil and generously season with salt and pepper. 2. In a mixing bowl, whisk together vinegar, mustard, and agave nectar. Toss in onions and season with salt and pepper. 3. Heat a grill or grill pan to medium and oil the grates. 4. Thread lamb on skewers and grill for 6–8 minutes. 5. Serve alongside onions.
• 1/2 cup Dijon mustard • 1/2 tbsp agave nectar
• 1 yellow onion, thinly sliced • Salt and white pepper, to taste
Equipment • Bamboo skewers
Inspired by Food & Wine magazine
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Tee Up!
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Not Your Average Vacation Lodgings
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What Interns Offer
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Golf’s Place in the Tax Code
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Senegalese Lamb Skewers
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It’s National Golf Month!
Celebrate the Sport by Passing It On IT’S NATIONAL GOLF MONTH!
The game Americans call golf originated in 15th-century Scotland when players started using bent sticks to smack pebbles across the local sand dunes. Its popularity exploded, and men soon became so enamored with the sport that in 1457, the Scottish parliament banned it.They claimed that playing golf was distracting young soldiers from their military duties as Scotland prepared for yet another showdown with England — proof that although we’ve come a long way from sticks and stones, the addictive nature of the game remains the same. If you’ve longed to visit the green all summer, August provides the perfect excuse. Known as National Golf Month, these 31 days practically demand that you pack up your clubs, pick out a new set of balls, and tee up at your local
course. Apart from swinging solo, one of the very best ways to celebrate is by bringing someone new along for a game. Driving ranges often take advantage of the month’s nickname and offer discounts and specials, so this is the perfect time to introduce a friend or colleague to the sport. Teach them the basics like scoring, stance, and how to steer clear of the sand bunkers and treat every divot, missed swing, and sunken lake shot as a learning experience rather than a mistake. According to Golf Monthly, there are a few foolproof steps you can take to help someone else fall in love with the game. First, bring them to a beautiful course and take them for a stroll that makes them want to stay for hours.Then, hit a few balls while they watch and follow up your demonstration by helping them try a few putts, pitches,
and chips at a short game area. Finally, ferry them to the range to test their newly acquired skills and encourage them to invest in a few lessons that will bring them up to par. If all else fails, remind your would-be protégé that according to legend, golf (played well or badly) can help tee a person up for immortality. In the 1700s, Dr. Benjamin Rush claimed that if a man golfed twice a week, he “would live 10 years the onger.”Who are we to disagree?
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