Frequently Asked Questions

At PCIA Wichita, we believe transparency is key to any relationship. That’s why we discuss and disclose fees at the very beginning of our relationship, as well as each time we make a recommendation. With his Series 66 registration, Andrew is a true fiduciary and works in the best interests of his clients to find the most suitable solution to their needs. You can learn more about his designations, registrations and experience by clicking here. Andrew’s licenses and independence allow him to provide a broader range of services, and whether he is working in a fiduciary capacity or to find a commission-based product that he believes can position you to achieve your goals, you are always informed on both his reasons for making the recommendation and how he is compensated for implementing that recommended strategy.

Andrew Merchant has nearly 15 years of experience as a financial advisor, investment manager and wealth strategist. He has worked for major wire houses as well as independent firms that allow him to work on the same side as the client, determining what is best for them. He is a graduate of the University of Kansas with a degree in sociology and communications, and he achieved his MBA from Baker University. In addition to passing his SIE® exam, he also passed his Series 66 exam in the early stages of his career, qualifying him to help clients in fiduciary manner by providing nearly any service they could necessitate.

A Core Values Meeting is an initial introduction. It is a chance for you to get to know us and a chance for us to get to know you. During this meeting, we will assess your mindset, beliefs, experience and goals as we work to understand your motivating factors. Furthermore, we know that working with PCIA Wichita is not for everyone. We are seeking driven clients who are looking to take control of their financial lives through action, as we think that those are the clients we work best with. If you’re ready to schedule your Core Values Meeting and discuss strategies to help you reach your goals, you can click right here.

PCIA Wichita does not use cookie-cutter models when structuring an investment portfolio. We don’t believe in ratios or the Rule of 100, which dictates that the total percentage of your assets exposed to the market should be 100 minus your age. For us, portfolio construction is based on your goals, your circumstances and your tolerance for risk. That means that each client gets a completely customized plan and portfolio design that is tailored to them. If your main objective is growth at all costs, we can work with you and position you to maximize you opportunity of growth. That approach can, however, come with a price. That price is market volatility, and the market has no floor; there is always the possibility of loss. For those without the stomach for that volatility, we can use a protection-based approach. We find that most of our clients fall somewhere in between, but each person’s portfolio will vary.

We are currently located at 801 E Douglas, Ste. 100, in Wichita, Kansas. Our zip code is 67202. Our office is about three hours away from our main PCIA office in Overland Park, Kansas, but we often work with the advisors at our headquarters to leverage connections and find the strategies that we feel best suit a client. We are also well-prepared to work with clients from a distance. Some of our clients reside in different states, and we feel just as close to them as we do to the clients we meet with in person. We take pride in our ability to use the technology we’re so lucky to have, and we’re excited about the possibility of connecting with you, no matter where you might be!

We understand that a relationship with PCIA Wichita is not for everyone. Many of our clients are affluent and have significant net worth or assets, oftentimes coming with a background in real estate investment and development, medical fields, business ownership and more; however, we always welcome the opportunity to speak with you to learn more about your circumstances, your goals and your mindset. A great fit is a great fit, and we always look forward to meeting a like-minded person who is willing to work outside the box and with action at the forefront of their mind!

2024 IMPORTANT DEADLINES*

JANUARY 16, 2024

If you are self-employed or have other fourth-quarter income that requires you to pay quarterly estimated taxes, postmark this payment by January 16, 2024.

APRIL 15, 2024**

FIRST QUARTER 2024 ESTIMATED TAX PAYMENT DUE
2023 INDIVIDUAL TAX RETURNS DUE
Most taxpayers have until April 15 to file tax returns. Email or postmark your returns by midnight on this date.

LAST DAY TO MAKE A 2023 IRA CONTRIBUTION
If you have not already contributed fully to your retirement account for 2023, April 15 is your last chance to fund a traditional IRA or a Roth IRA.

INDIVIDUAL TAX RETURN EXTENSION FORM DUE
If you cannot file your taxes on time, file your request for an extension by April 15 to push your deadline back to October 15, 2024.

JUNE 17, 2024

SECOND QUARTER 2024 ESTIMATED TAX PAYMENT DUE

SEPTEMBER 16, 2024

THIRD QUARTER 2024 ESTIMATED TAX PAYMENT DUE

OCTOBER 15, 2024

EXTENDED INDIVIDUAL TAX RETURNS DUE
If you received an extension, you have until October 15 to file your 2024 tax return.

These links will let you download the Internal Revenue Service’s most frequently requested tax forms. Clicking on one of these links will download a PDF version of the form directly from the Internal Revenue Service website.

1040

U.S. Individual Income Tax Return
Form | Instructions

1040-SR

An alternative to the Form 1040 for taxpayers who are 65 and older.
Form | Instructions

1040ES

Estimated Tax for Individuals. Estimated tax is the method used to pay tax on income that is not subject to withholding (for example, earnings from self-employment, interest, dividends, rents, or alimony).
Form & Instructions

1040X

Amended U.S. Individual Income Tax Return
Form | Instructions

5305 – SIMPLE

Savings Incentive Match Plan for Employees of Small Employers
Form | Instructions

SCHEDULE 1 (1040)

Additional Income and Adjustments to Income
Form | Instructions

SCHEDULE 2 (1040)

Additional Taxes
Form | Instructions

SCHEDULE 3 (1040)

Additional Credits and Payments
Form | Instructions

SCHEDULE A (1040)

Itemized Deductions. If you itemize, you can deduct a part of your medical and dental expenses and un-reimbursed employee business expenses, and amounts you paid for certain taxes, interest, contributions, and miscellaneous expenses. You can also deduct certain casualty and theft losses.
Form | Instructions

SCHEDULE B (FORM 1040)

Interest and Ordinary Dividends.
Form | Instructions

SCHEDULE C (FORM 1040)

Profit or Loss from Business (Sole Proprietorship)
Form | Instructions

SCHEDULE D (FORM 1040)

Capital Gains and Losses. Use this form to report the sale or exchange of a capital asset not reported on another form or schedule, gains from involuntary conversions (other than from casualty or theft) of capital assets not held for business or profit, capital gain distributions not reported directly on Form 1040, and non-business bad debts.
Form | Instructions

SCHEDULE E (FORM 1040)

Supplemental Income and Loss. Use Schedule E to report income or loss from rental real estate, royalties, partnerships, S corporations, estates, trusts, and residual interests in real estate mortgage investment conduits (REMICs).
Form | Instructions

SCHEDULE SE (FORM 1040)

Self-Employment Tax. Use this form to figure the tax due on net earnings from self-employment. The Social Security Administration uses the information from Schedule SE to figure your benefits under the social security program.
Form | Instructions

W-4

Employee’s Withholding Allowance Certificate. Complete this form so your employer can withhold the correct federal income tax from your pay.
Form & Instructions

W-2

Wage and Tax Statement. Every employer who pays for services performed by an employee, including noncash payments, must file a Form W-2 for each employee – even if the employee is related to the employer.
Form | Instructions

W-9

Request for Taxpayer Identification Number and Certification. Anyone who is required to file an information return with the IRS must obtain your correct taxpayer identification number (TIN) to report, for example, income paid to you, real estate transactions, mortgage interest you paid, acquisition or abandonment of secured property, cancellation of debt, or contributions you made to an IRA.
Form | Instructions

1099

Miscellaneous Income Statement. Every business that pays for services performed by a non-employee must file a copy of Form 1099 for each non-employee.
Form | Instructions

1099-NEC

Form to report nonemployee compensation.
Form | Instructions

941

Employer’s Quarterly Federal Tax Return.
Form | Instructions

4868

Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.
Form & Instructions

8863

Education Credits (American Opportunity and Lifetime Learning Credits). Use this form to figure and claim tax credits for qualified education expenses paid to an eligible postsecondary educational institution.
Form | Instructions

These links will let you download a number of very useful tax publications from the Internal Revenue Service. Clicking on one of these links will download a PDF version of the publication directly from the Internal Revenue Service website.

Your Rights As a Taxpayer

This publication explains some of your most important rights as a taxpayer and the examination, appeal, collection, and refund processes.

Armed Forces’ Tax Guide

This publication covers the special tax situations of active members of the U.S. Armed Forces. It does not cover military pensions or veterans’ benefits or give the basic tax rules that apply to all taxpayers.

Your Appeal Rights and How To Prepare a Protest If You Don’t Agree

This Publication tells you how to appeal your tax case if you don’t agree with the Internal Revenue Service findings in an audit or other review.

Employer’s Tax Guide

A guide to taxes for employers and business owners.

Your Income Tax for Individuals

This publication covers the general rules for filing a federal income tax return. It explains the tax law to help you make sure you pay only the tax you owe and no more.

Tax Guide for Small Businesses (for individuals who use Schedule C or Schedule C-EZ)

The publication provides general information about the federal tax laws that apply to small business owners who are sole proprietors and to statutory employees. It provides information on business income, expenses, and tax credits that may help you file your income tax return.

Exemptions, Standard Deduction, and Filing Information

This publication discusses some tax rules that affect every person who may have to file a federal income tax return. It answers some basic questions: who should file; what status to use; how many exemptions to claim; and the amount of the standard deduction.

Medical and Dental Expenses (including the Health Coverage Tax Credit)

This publication explains the itemized deduction for medical and dental expenses that you claim on Schedule A (Form 1040).

Child and Dependent Care Expenses

This publication explains the tests you must meet to claim the credit for child and dependent care expenses.

Divorced or Separated Individuals

This publication explains tax rules that apply if you are divorced or separated from your spouse.

Charitable Contributions

This publication explains how to claim a deduction for your charitable contributions.

Business Expenses

This publication discusses common business expenses and explains what is and is not deductible.

Examination of Returns, Appeal Rights, and Claims for Refund

This publication discusses general rules and procedures that the IRS follows in examinations.

Individual Retirement Arrangements (IRAs)

This publication discusses traditional, Roth, and SIMPLE IRAs. It explains the rules for setting up an IRA, contributing to an IRA, transferring money or property to or from an IRA, receiving distributions from an IRA, and taking credit for contributions to an IRA.

Survivors, Executors, and Administrators

This publication is designed to help those in charge of the estate of an individual who has died. It shows them how to complete and file federal income tax returns and explains their responsibility to pay any taxes due on behalf of the deceased person.

Health Savings Accounts and Other Tax-Favored Health Plans

This publication explains health savings accounts (HSAs), medical savings accounts (Archer MSAs and Medicare Advantage MSAs), health flexible spending arrangements (FSAs), and health reimbursement arrangements (HRAs).