How to go from Shangri la to Baishui Tableland and back?

Either option can be ok. It is only aorund 100km between Shangrila and the tableland, so you can cover the round trip in one day. If you take a taxi, I remember the single journey costs CNY300 or a little more.

In the end of June, temp would be comfortable for the trip, but it may be a little wet.

From Shangrila, I go to Baishuitai and then heading to Lijiang. Is there any bus and time schedule from Baishuitai to Lijiang?

But there seems no direct bus from Baishuitai to Lijiang. I'd suggest you rent a car back to Tiger Leaping Gorge (Hutiaoxia Town) first, then catch a pass-by coach back to Lijiang.

How much by taxi from White Water Terraces to TLG? How long it takes? Can I have time to visit TLG? What time is the last bus from TLG to Lijiang?
Thanks for your reply.

It costs CNY 200-300 from White Water Terraces to Tiger Leaping Gorge. The trip takes about 2 hours. Yes, you may spend 4 hours or a half day to visit TLG.
I heard that the last bus departs at around 15:30. The trip takes about 2 hours. Or, you may charter a car from TLG to Lijiang for about CNY 400.