For Colorado residents, the Colorado Child Care Contribution Credit can offer fantastic tax savings. Depending on your marginal tax bracket, you can see savings from 70-94% of the contribution you make! You can make a qualifying contribution to promote child care in Colorado and claim a state income tax credit of 50% of the contribution. […]
A common tax savings strategy is to defer taxable income into next year. The idea is that you pay taxes on the taxable income next year, rather than this year. There are two basic ways to do this: Defer taxable income into 2018 Accelerate deductions into 2017 This is the crux of all tax planning […]
As we start looking toward the end of the year, tax planning strategies for 2017 and 2018 become our primary focus. But what is tax planning and how do tax planning strategies save money and avoid surprises? Every taxpayer has the right and responsibility to lower his/her tax bill using a number of different legal […]
