Plan for success

Strategic Tax Planning in Denver

Tax planning is an essential year-round process to help individuals and businesses minimize tax liabilities and prepare for financial success. At Paredes & Co., we create tailored strategies that align with your financial goals.

Personalized Tax Strategies for Individuals and Families

We analyze your current financial situation to identify opportunities for savings. For example, we might recommend adjusting your withholdings, making contributions to a retirement account, or planning for the tax implications of major life changes like selling property or receiving an inheritance.

Should I itemize my deductions or take the standard deduction?

It depends on your expenses. If itemized deductions like medical costs, mortgage interest, and charitable donations exceed the standard deduction, itemizing may save you more money.

How can I reduce taxes on investment income?

Consider holding investments longer to benefit from lower capital gains rates or investing in tax-advantaged accounts like IRAs.

What’s the best way to prepare for tax season?

Keep track of expenses, maintain organized records, and review your withholdings or estimated payments throughout the year.

Are retirement contributions tax-deductible?

Yes, contributions to traditional IRAs and 401(k)s are often deductible, but Roth IRA contributions are not.
Tax Planning service for individuals and families
Tax Planning services for Businesses

Personalized Tax Strategies for businesses

We provide strategic tax planning tailored to your business’s structure and goals. This includes advising on deductions, entity restructuring, depreciation of assets, and taking advantage of tax credits. We’ll also help you plan for estimated quarterly payments to avoid surprises during tax season.

Can I switch my business structure to save on taxes?

Yes, switching to an S-corp, for example, can save self-employment taxes for certain businesses.

Are there tax credits for hiring employees?

Yes, credits like the Work Opportunity Tax Credit (WOTC) may apply.

How do I handle depreciation on equipment?

We’ll help you maximize deductions using methods like Section 179 or bonus depreciation.

How do I estimate quarterly payments?

We calculate estimated payments based on your prior year’s taxes and expected income for the current year.