When it comes to strategic tax planning Fort Collins residents need to be aware that, a little foresight can make a big difference. Accurate and timely tax planning can save you money and make managing your finances easier all year long. At Rodahl & Company CPAs, we’ve seen how implementing the right strategies can help individuals and small businesses in Northern Colorado achieve significant tax savings. We have tax support that is tailored to your specific needs. Our trusted Fort Collins CPA team takes the time to get to know each and every client, individuals and businesses alike, in order to devise a solution that fits. It really is that personal.

Start your strategic tax planning today!

When you work with us, it’s like having your own accounting department. We offer a blend of multidisciplinary expertise, our Fort Collins CPA/Accountant team works in partnership with you to help solve complex financial issues and provide deep insight into the numbers. We provide all of our clients with personalized guidance throughout the year to help ensure you achieve your financial goals. From accounting, to audit representation, to strategic tax planning Fort Collins, we cover all of your business or personal accounting and tax needs.

We understand that taxes can be stressful. That’s why we work to lower your stress when you work with our team. Our filing process offers a seamless digital experience. From gathering your tax documents to filing your return electronically, we have the technology and knowledge required to make it all happen seamlessly. Before you get started. Let’s break down our 11 tips to start you out on the right path.

11 Strategic tax planning tips for Fort Collins residents

1. Start early

Strategic tax planning isn’t something that should be done in a rush as tax season approaches. Start early and evaluate your situation throughout the year. This will give you time to implement strategies to reduce your taxable income and avoid last-minute stress.

2. Maximize retirement contributions

One of the simplest ways to reduce your taxable income is to contribute to retirement accounts like IRAs or 401(k)s. In Fort Collins, many residents don’t take full advantage of this option, but maxing out your contributions can lead to significant savings in the long term. As your trusted strategic tax planning Fort Collins source, we can discuss this further and give advice on the best fit for you and your situation.

3. Utilize Health Savings Accounts (HSAs)

If you have a high-deductible health insurance plan, contribute to a Health Savings Account (HSA). Contributions are tax-deductible, and withdrawals for qualified medical expenses are tax-free, making HSAs a smart part of your strategic tax-planning approach.

4. Consider the timing of income and expenses

Sometimes, it’s beneficial to defer income to the next tax year or accelerate deductions into the current year. For example, you might prepay your property taxes or make charitable donations in December to reduce this year’s taxable income.

5. Charitable contributions

Giving back can also give you a tax break. Keep track of your charitable donations, whether they’re in cash, goods, or stock. If you itemize, these contributions can significantly reduce your tax bill.

6. Claim the home office deduction

With many Fort Collins residents working remotely, the home office deduction is more relevant than ever. If you use part of your home exclusively for business, you may qualify for this valuable deduction, lowering your taxable income.

7. Energy efficiency credits

If you’ve made energy-efficient improvements to your home, like installing solar panels or energy-efficient windows, you may qualify for tax credits. These are great ways to lower your overall tax bill while also benefiting the environment.

8. Keep track of medical expenses

Medical expenses can add up quickly. If your unreimbursed medical expenses exceed a certain percentage of your adjusted gross income, you may be able to deduct them. Keep thorough records to take advantage of this deduction during tax planning.

9. Monitor capital gains

If you’re selling investments, consider the timing of your sales. By managing capital gains and losses, you can offset taxes and possibly reduce the amount owed. This is particularly important in strategic tax planning Fort Collins, where property and stock investments are common.

10. Use education tax credits

If you’re pursuing higher education or paying for a dependent’s education, take advantage of credits like the Lifetime Learning Credit. It can help offset the costs of tuition and other educational expenses, reducing your taxable income.

11. Review your estate plan

While it may not seem immediately relevant, estate planning is a crucial part of strategic tax planning. Proper estate planning can minimize the tax burden on your heirs and ensure your legacy is preserved in the most tax-efficient way possible.

Rodahl & Company CPAs is your trusted source for strategic tax planning Fort Collins

By incorporating our tips into your strategic tax planning you can save yourself time, money, and stress. Whether you’re preparing for tax season or setting yourself up for long-term financial success, planning ahead is always a smart move. That’s where we come into play. We can help you navigate the complexities of strategic tax planning Fort Collins. Rodahl & Company was founded in 2000 to provide individuals and small businesses in Northern Colorado with comprehensive accounting and tax services.

We are proud that a significant number of our clients have been with our Accounting and Tax Firm for over two decades. We believe those long-term relationships exist because our clients recognize that we are in the business of helping them and that our CPAs provide excellent service. We have assembled a staff of professionals who share that enthusiasm of helping. Whether you are a "once a year" tax client, or a daily client, our goal is the same: we want to help you achieve your financial objectives.

Read this five-star review from our happy client Steve

“Dean Rodahl and Rodahl & Company CPAs have managed my taxes and tax planning for over a decade. Dean is incredibly knowledgeable and is dedicated to staying current and informing me on new tax laws. Dean is there when I need him, helping me through complicated business decisions. I appreciate and highly recommend Rodahl & Company CPAs.”

Start your strategic tax planning today!

Our Rodahl & Company Certified Public Accountants Fort Collins office is conveniently located on Timberline just north of Horsetooth Road. We have spent the last 22 years providing bookkeeping, accounting, and tax preparation to clients throughout Northern Colorado. Call us to schedule your appointment: 970-207-0747.