Telephone: (303) 449-3060

EXPANDED CHARITABLE CASH DONATIONS - Like last year, taxpayers who take the standard deduction can write-off up to $300. New this year, married couples filing jointly can claim up to $600 in cash donations (keep those receipts!). And those who itemize can deduct up to 100% of their adjusted gross income for 2021. To search for qualified charitable organizations, go to the IRS Tax Exempt Organization Search tool.

COLLEGE INVEST 529 PLANS - Have children or grandchildren born after 1/1/2020? Don't miss out on the Colorado First Step Program to start saving for college. New accounts opened before their 5th birthday will receive $100 and be enrolled in the Matching Grant Program, eligible for up to $1,000 for 5 consecutive years! For new accounts, you can also apply for an additional $25 contribution within 30 days. For CO taxpayers, all contributions to CollegeInvest savings accounts are deductible up to your taxable income (next year deductions will be limited to $20,000 per taxpayer). And qualified apprenticeships can now be included along with higher education expenses for using 529 funds.

MEALS & ENTERTAINMENT EXPENSES FOR BUSINESSES - The temporary 100% deduction does not expire until January 1, 2023, so keep supporting our local establishments! Food and beverages from restaurants are still 100% deductible, but unfortunately, entertainment expenses are not deductible.

OTHER TAX BREAKS - There are many tax breaks to take advantage of for individuals, businesses and the self-employed - contact your Tax Manager today for tax planning services!