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Changing Text Wrapping Options for Your Text Box
To change the text wrapping options for your text box, you must change the text wrapping options of the drawing canvas. Right-click on the border of the drawing canvas. Select Format Drawing Canvas.
The Layout tab provides you with a variety of options for changing the layout of your text box. For example, you can have the text wrap around the text box, or you can insert the text box inline with the document text.
Select how you would like your text box to appear. For advanced options, such as the amount of space around the picture, click Advanced
Once you’ve specified your options, click OK.
Cool Formatting Tricks for Word
More Advanced Formatting Options for Microsoft Word Documents
Formatting Shortcuts for Word Documents