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April and Tax Day have a way of sharpening investors' attention. Even for those who planned ahead, writing a check to the IRS can prompt a familiar question: Is there a better way to manage taxes on my investments going forward?

To me, it's often the moment when investors stop looking backward at last year's returns and start asking harder questions about how their portfolios are positioned for the years ahead.

In recent years, higher short-term yields have drawn attention toward cashlike instruments and ultra-short strategies.

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