Statements, Taxes & Data – How Fun!
Kelly:
Hello everyone, and welcome to this week’s Bi-Weekly Update. I’m Kelly Heppe, joined today by Alex Phillips and Tom Boh. We’d like to begin by talking about your April statements—whether you received them by mail or accessed them online. We understand that some clients feel anxious when reviewing their statements, often unsure of what to expect or how to interpret the numbers.
It’s important to keep in mind that, despite some volatility in April—when the S&P 500 reached its low point on April 9—the index is currently down about 3.85% year-to-date.
We encourage you to review your statements carefully. Your portfolio is personalized to your goals, and diversification plays a key role in managing risk. Market indices like the S&P 500 may not accurately reflect your individual holdings or performance.
As always, please don’t hesitate to reach out with any questions. Tom
Tom:
Thanks, Kelly. Now that tax season is behind us, I’d like to highlight a tool many of our clients find helpful: Holistiplan tax analysis.
This software takes the data from your tax return and turns it into a clear, easy-to-understand summary. It includes key insights like your Safe Harbor amount—what you may need to pay in estimated taxes for 2025—and it can also help guide conversations with your CPA about withholding and future planning.
Looking ahead, we have a special edition of Experts Unplugged coming up on May 28. Heath McAteer, our in-house tax expert at Baird, will be joining us to talk about the upcoming tax legislation changes for 2025 and 2026. Be sure to save the date!
Alex, what do you have for us today?
Alex:
Thanks, Tom. I have a couple of quick updates.
First, the GDP report released late last month showed a decline of 0.3%. While that may sound concerning at first, the details tell a more nuanced story. The decline was largely driven by a sharp increase in imports—the highest since 1947—as companies pulled forward inventory ahead of anticipated tariffs.
Also, the Federal Reserve held off on cutting interest rates this week, citing ongoing economic uncertainty. According to Strategas, we may not see a rate cut until the fourth quarter of this year.
We’re always keeping an eye on the bigger picture.
Kelly:
Thanks, Alex. We appreciate everyone tuning in today. A special shout-out to all the moms celebrating Mother’s Day this weekend, and to the graduates recognizing their achievements this month.
Wishing you all a great weekend! Thanks so much for joining us.
As always, thank you for your trust and confidence. Take Care!
Tom, Kelly, Alex, Amanda, Jesus, Larry, & Rachael
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SAVE THE DATE: Special Edition Experts Unplugged!
With tax day in the rearview, it’s time for you to use your filing as a means to look ahead. Join us May 28th at 12:00 MT to hear from our tax expert, Heath McAteer, CPA CFP®, about the importance of a tax analysis and planning considerations related to the potential sunset of the Tax Cuts and Jobs Act.