Year-End Tax Planning Checklist for Colorado Households & Businesses

CPA of Denver · Work directly with Philip M. Falco, CPA

Start a year-end tax review while there is still time to act. Gather current information, project the year and separate decisions that require action before year end from filings or contributions that may have different deadlines. This checklist is a preparation tool, not a list of transactions everyone should make.

Year-End Tax Planning Checklist for Individuals and Couples

• Collect recent pay statements for both spouses, including year-to-date withholding.
• Identify expected bonuses, equity vesting, option exercises and stock sales.
• Summarize realized investment gains, losses and expected distributions.
• Review major changes in deductions, dependents, residence and income sources.
• Gather estimated-payment confirmations and prior-year returns.
• List charitable-giving and retirement questions before committing funds.

Review the combined household picture rather than assuming payroll withholding covers every income source. See high-income household planning.

Year-End Checklist for Business Owners

• Update and reconcile the books before relying on projected profit.
• Review owner payroll, distributions, benefits and withholding.
• Identify planned equipment purchases, financing and business-use facts.
• Discuss retirement-plan choices, contribution eligibility and deadlines.
• Review business and owner estimated payments and relevant Colorado elections.
• Flag ownership changes, new states, property sales and significant contracts.

Colorado’s SALT Parity Act election requires an entity-and-owner review of the applicable year’s rules, payments and reporting. Do not assume an election is beneficial simply because the business is eligible.

Colorado Payments and State-Specific Questions to Review

Bring Colorado withholding and estimated-payment confirmations as well as federal records. Identify moves, work or business activity in other states, and any pass-through entity election or payment already made. Confirm the state assumptions and applicable-year rules before treating a federal projection as a complete household or business plan.

Compare Tax Effects With Cash Needed

A deduction does not reimburse the entire cost of a purchase. Compare the business need, cash requirement, financing and future consequences with the estimated tax effect. A proposed change can be unhelpful even if it reduces current-year taxable income.

Turn the Projection Into an Action List

Record the information used, decisions still open, responsible person and relevant deadline. Confirm whether implementing each item needs payroll, a filing, a plan provider or another professional. Update the estimate if a bonus, sale or business result changes materially.

For dated contribution deadlines and Marketplace reminders, see the 2026 Colorado year-end tax planning article.

Choose the Right Planning Engagement

For a current-year estimate and payment review, see tax planning and estimated tax planning. For selected alternatives across three meetings, see the $1,700 Tax Strategy Series. Annual preparation and scheduled planning are separately defined in Business Advisory.

Frequently Asked Questions

Choose Your Next Step

For a focused question, review the $350 CPA Consultation: up to one hour total for document review, preparation and the telephone call. Larger analyses and implementation require a separate engagement. For service-fit and pricing questions, send a brief inquiry; do not include sensitive financial records.

Official References

• IRS estimated taxes
• IRS withholding estimator
• Colorado SALT Parity Act

Updated October 17, 2026 · CPA of Denver. General information; the applicable tax year, facts and written engagement determine the work and advice provided.