Letter from Leadership: Tax Planning – A Year-Round Affair
While tax season might only come once a year, effective tax planning requires a longer-term mindset.
In our last issue, we recommended some strategies to help you take some of the stress out of tax season. Now that Tax Day has come and gone, you might be ready to put taxes out of mind until next spring. However, as a critical part of wealth management, tax planning warrants year-round attention, and we know the best advice and plans consider your tax exposure over multiple years. Here are just some of the ways taxes inform the solutions we offer:
• Tax return reviews. Now that you’ve completed your tax return for 2023, put it to work by sharing your return with your Financial Advisor. Together you can explore if there are opportunities to mitigate your future tax burden while fine-tuning your existing plans.
• Tax-smart investment platforms. We continue to invest in the tools you need to maximize your portfolio’s tax efficiency – including dynamic investment solutions that offer greater flexibility and personalization while efficiently capturing losses and managing risk.
• Tax planning opportunities. There are key provisions from the 2017 Tax Cuts and Jobs Act that are set to sunset at the end of 2025. Here we discuss why the estate tax provision is especially timely and how it can support your plans for building a legacy.
Wealth management is never set-it-and-forget-it, and that’s especially true for taxes. Your Financial Advisor stands at the ready to help you make informed, forward-looking tax decisions.
The information offered is provided to you for informational purposes only. Robert W. Baird & Co. Incorporated is not a legal or tax services provider and you are strongly encouraged to seek the advice of the appropriate professional advisors before taking any action. The information reflected on this page are Baird expert opinions today and are subject to change. The information provided here has not taken into consideration the investment goals or needs of any specific investor and investors should not make any investment decisions based solely on this information. Past performance is not a guarantee of future results. All investments have some level of risk, and investors have different time horizons, goals and risk tolerances, so speak to your Baird Financial Advisor before taking action.
