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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.

Mike Schroeder, Chairman of Baird Private Wealth Management


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Mike Schroeder
Private Wealth Management

Erik Dahlberg, President of Baird Private Wealth Management


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Erik Dahlberg
Private Wealth Management