State legislatures faced a growing number of budget shortfalls to begin fiscal year 2025 as lower tax collections and a slowing economy curtailed the pandemic-era revenue boom. However, tax increases were rarely in the discussion. Budgets were balanced, and some states still have managed to cut taxes. Regardless of what occurs in statehouses, taxpayers need to prepare for both unforeseen economic changes and the potential for federal tax reform to trickle down to the states.
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This tax planning guide was developed to help you think through opportunities and other considerations for you and your family during the remainder of 2024 and into 2025. The guide will help you evaluate and optimize the tax impact of changing market conditions and new policy developments. For additional tax planning guidance and insights, see:
The 2024 economic environment presented a complex landscape for family office investments, characterized by heightened global uncertainty and an evolving interest rate backdrop. As central banks, particularly the Federal Reserve, navigate the aftermath of prolonged accommodative policies, family offices are recalibrating their investment strategies to adapt to these changes.
2024 FOX Global Investment Survey Member Chart Pack
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The 2024 economic environment presented a complex landscape for family office investments, characterized by heightened global uncertainty and an evolving interest rate backdrop. As central banks, particularly the Federal Reserve, navigate the aftermath of prolonged accommodative policies, family offices are recalibrating their investment strategies to adapt to these changes.
Join us for an insightful session on women in wealth and the pivotal role women play in the family office and wealth management space. This panel will explore the unique perspectives women bring to the industry, while addressing their challenges and opportunities for growth.
Investment Migration Trends, Global Mobility Diversification and Legacy Planning I 2024 Family Forum
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This session will begin with an introduction to the investment migration industry and current wealth migration trends. Henley & Partners, the global leader in residence and citizenship by investment, will then outline the key differences, primary drivers, and benefits of alternative residencies and citizenships, explaining how wealthy American and international families are turning to these programs to hedge against geopolitical risk and create a plan for future generations.
Best Financial Practices for College Students
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For young adults, heading off to college often represents a major adjustment to adulthood and independence. One aspect of this transition is understanding the importance of financial well-being. By knowing the basics of personal finances and creating clear goals, students can set themselves up to succeed during and after their college years. Here are some tips for college students to consider, including building a credit history and organizing estate planning and other essential documents.
Baird Digest, Summer 2024: News and Perspectives for Growing and Preserving Your Wealth
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At some point on your family journey and through the key life stages, you may take a step back and realize the wealth and legacy you’ve created are going to live on for generations. As you begin to reflect, you can look to the legacy and estate planning guide in this Digest as a starting point. You’ll also find helpful checklists, thoughtful questions, and perspectives to prepare for the generational transition—including how to talk with your heirs about their inheritance.
Baird Digest, Summer 2024: News and Perspectives for Growing and Preserving Your Wealth
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At some point on your family journey and through the key life stages, you may take a step back and realize the wealth and legacy you’ve created are going to live on for generations. As you begin to reflect, you can look to the legacy and estate planning guide in this Digest as a starting point. You’ll also find helpful checklists, thoughtful questions, and perspectives to prepare for the generational transition—including how to talk with your heirs about their inheritance.
2024 Year-End Tax Planning Guide
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In today’s evolving U.S. and global tax environment, the tax implications of business decisions are not always intuitive. Integrating tax considerations throughout the decision-making process can help businesses unlock potential tax savings and efficiencies as well as identify and mitigate tax risks. Whether shifting supply chains, pursuing mergers and acquisitions, implementing sustainability initiatives, or adjusting workforce strategy—embracing a total tax mindset while modeling the tax impact of these decisions can lead to better outcomes that add value to your organization.