Please stay tuned for important disclosure information at the conclusion of this episode.

Here's what to head on this week's investing in sites.

Preparing for the next tax season starts now.

Morningstar Inc.'s editorial director for financial advice, Cheryl Rowling,

shares four tips to become a tax-efficient investor.

Plus, J.P. Morgan Chase is staying steady.

Tesla is scaling back.

What Morningstar analysts think about both company's outlooks and their stocks.

And climate change is on the proxy ballot.

Details on the demand-facing Bank of America and what it wants shareholders to do.

This is Investing Insights.

Welcome to Investing Insights. I'm your host, Ivana Hampton.

Let's get started with a look at the Morning Star headlines.

Tesla is planning to lay off more than 10% of his workforce,

according to news reports, and at least one high-level executive is leaving.

Morningstar believes the cuts are consistent with the EV-makers shift towards profits

instead of delivery growth in 2024. Tesla has previously hired workers during expansion or cut staff

during slowdowns, and it will likely reduce costs this year to maximize profits following a drop

in first quarter deliveries. The aim appears to be to stabilize gross profit margins

in the automotive segment and improve operating profit

margins across the company. Morningstar thinks Tesla's shares are worth $195 each and slightly

undervalued. Investors are encouraged to wait for the stock price to come down before buying.

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