Making the most out of your money starts with recognizing all the ways taxes can impact your financial future. Whether you’re focused on your own retirement, a loved one’s education or the best way to pass on your wealth to your heirs, any sound, forward-looking plan to maximize your wealth needs to take into account taxes' bite.
Just as the rise and fall of interest rates can ripple throughout your investment and wealth management plans, so too can changes in tax policy. Your Baird Financial Advisor is trained and experienced in crafting wealth management strategies that plan for its impact, keeping you on track with your broader vision.
Your Baird Financial Advisor can help you anticipate the impact of taxes in all areas of your life.Let's Talk!
Important Dates for Tax Year 2021
- 12/31/2021: Last day to contribute to qualified retirement plans and complete Roth conversions
- 1/18/2022: 2021 4th quarter estimated tax payment due
- 1/31/2022: Deadline for employers to send W-2s/1099s to employees/independent contractors
- 2/15/2022: Deadline for financial institutions to send consolidated 1099s to individuals (Financial institution may be granted a 30-day extension)
- 2021 Individual Income Tax returns and payments are due
- Contributions to 2021 IRAs, Roth IRAs and Coverdell Education Savings Accounts due
- 2022 1st quarter federal estimated tax payments due
Tax Planning Insights
Is it nobler to suffer the slings and arrows of your traditional IRA? It depends on your circumstances.
After a year of great market volatility, many investors can make use of tax-loss harvesting - selling declining securities to get a tax advantage.
The current environment – low taxes, low interest rates, new CARES Act regulations – adds up to several tax advantages for high-net-worth individuals.
Despite broad market instability and low interest rates, there are several long-term planning opportunities that you can take advantage of now.
Stock options are always tricky from a tax standpoint. Here’s one way to make them work for you.