Marzano Capital Group: Making Lemonade Out of Lemons

Securities offered through LPL Financial, Member FINRA/SIPC. Investment advice offered through Independent Advisor Alliance, a registered investment advisor. Independent Advisor Alliance and Marzano Capital Group are separate entities from LPL Financial. Making Lemonade Out of Lemons

BY JON MARZANO, AIF®, FOUNDING PARTNER, MANAGING PRINCIPAL

Let me start this article by thanking the wonderful ownership and staff at LKN Magazine. Keela, Brooke and the whole team of talented writers and creators have built a phenomenal brand with Forsyth Magazines here in the Winston-Salem area and we’re excited to be a part of a new chapter for them. We at Marzano Capital Group are committed partners and we welcome other businesses to advertise and collaborate with content alongside us. If you have a good business and you are doing the right things, there will always be enough to go around. Our firm firmly believes this. I expect nothing but quality in the LKN publication and personally know that the Lake Norman area is a great place to live, shop, dine and enjoy life!

Now to the content and the lessons we try to teach in our articles that have actionable items for our readers.

Have you ever heard the saying, “It’s a way to make lemonade out of lemons”? Effectively, it is turning a bad situation into a better situation by using the bad situation as the catalyst. In our world of wealth management, this will be a year where we make some lemonade out of the lemons of volatility and losses that some investments have experienced. What does that mean and how can it benefit you in 2022 and beyond from a tax perspective? Let’s touch on a concept called tax loss harvesting. The concept is based around the principle that we always try and solve for the lowest tax consequences for our clients in any given year. No one knows what next year or the year after will hold from a tax law perspective and we always feel it is best to deal with them one year at a time. We advocate for our clients to not presume too far into the future. Based on that thought process, if some of the investments in your non-IRA accounts are down for the year, or just down in general, it may be a good idea to take the loss and reinvest the money back into something appropriate. For example, if you bought a growth stock index fund at the end of 2021 and it is still down in value as of October of this year, you may wish to consider selling it and reinvesting back into something that has a lot of the same style exposure but that is not the exact same fund – maybe a total market index or an S&P type index of all stocks. Tax loss harvesting allows you to realize the capital loss (for tax reasons) to offset against gains this year and in the future and/or to take as a $3000 offset in the year you take the loss. There are ways to get some current benefits from a tax perspective and still own materially the same investments going forward. An investor can also just simply stay out of the investment they sold, at a loss, for 31 days and buy back into the same investment (at current price). Selling an investment for a loss and staying out of it for 31 days will keep an investor from being subject to the “wash sale rule.”

There are a multitude of strategies that we deploy for our clients throughout the year. We do this on a discretionary basis in our advisory accounts when we think the benefit to the clients far outweighs not doing something. Let our firm take a look at your situation and give you some recommendations that we think will help you.

The opinions voiced in this material are for general information only and are not intended to provide specific advice or recommendations for any individual. All performance referenced is historical and is no guarantee of future results. All indices are unmanaged and may not be invested into directly. This information is not intended to be a substitution for specific individualized tax advice. We suggest that you discuss your specific tax issues with a qualified tax advisor. No strategy assures a profit or protects against loss. Marzano Capital Group and LPL Financial do not provide tax advice.

Lake Norman Motor Coach & Tiny Home Resort Lake Norman Motor Coach & Tiny Home Resort

Relax on the Shoreline of Lake Norman

LakeNormanMotorCoachResort.com | 704.489.6033

Where Relaxation Meets Reality!

BY MARTIE EMORY

If you ask Brad Doane, owner of Lake Norman Patio & Game Rooms, about his business plan – the answer is a simple one, and certainly a worthy goal!

“We are in the fun and relaxation business!,” he answers.

That’s definitely a familiar life skill for anyone who lives in the Lake Norman area, where making relaxation a part of your daily lifestyle is simply second nature.

Brad has operated Lake Norman Patio & Game Rooms in Mooresville since 2011, and is currently working on a second location in Denver, which should be up and running in a few months. With the largest inventory around of absolutely everything you need for your dream patio, deck, or game room, customers come from not only the Charlotte area, but Virginia, West Virginia, and South Carolina, to bask in the choices. Those sought-after options are only the highest quality merchandise, sold along with the finest customer service and positive attitudes. Custom orders are also encouraged – and it’s as simple as dropping by to talk to one of the experts if you have a fun vision of your own in mind! “I have had many of the same customers since 2011. They keep coming back, and now they are friends!” says Brad. He’s proud to employ – and totally rely on -- the top service managers in the industry, and has been associated with many of his vendors for over a decade. Those names and relationships enforce the company’s commitment to quality: Presidential Billiards, Florida Patio, King Casual Furniture, Sunbrella, and South Sea Outdoor Living, to name a few. There are four main materials of choice at Lake Norman Patio & Game Rooms: Polymer (with a 20 year warranty!), wicker, aluminum, and teak – teak is the only wood they will carry.

An avid boater and skier himself, Brad landed in the Lake Norman area from his home in New England, by way of his parents, who always stopped to visit the lake area en route to Florida for the winters. “I wanted to move south, wasn’t quite ready for Florida, but I knew I wanted to live on a lake!” he explains.

But back to the business of fun and relaxation! “Here, outdoor living happens easily nine or 10 months out of the year. Nothing is strictly seasonal – thankfully, we sit outside all year long!” says Brad. That’s why their all-weather wicker sectionals are so popular – they can remain outside all year, even uncovered. The store features aluminum dining sets, classic chaises and chic dining tables for the pool area, all sizes and colors of umbrellas, outdoor rugs, even propane fire-pit tables for cooler evenings. Adirondack chairs are always a favorite, indoor and outdoor bars (and a stylish selection of bar stools) and every accessory you can imagine for the ultimate pool or deck retreat. For game enthusiasts? They have both indoor and outdoor ping pong tables, pool tables of the finest craftsmanship, shuffleboard tables, and dart boards – which are still a popular pastime!

If it’s time to refresh that relaxing space you head for at the end of each day, or if you’re new to lake life and starting from scratch, the experts at Lake Norman Patio & Game Rooms are always ready for a new project. Visit them at 847 Brawley School Road in Mooresville, 704-660-0527, or online at lknpatio.com and Facebook. Open 7 days a week, Monday–Friday 9:30-6pm, Saturday 9:30–5pm, Sunday 12-4pm.

lknpatio.com

Lake Norman Patio & Game Rooms 847 Brawley School Road Mooresville | 704.660.0527 Denver location at the Red Barn, 1612 NC-16 Denver | 704.966-1358