Tax season is around the corner. Here’s what you need to know…
We’ve packed this blog with all the resources you’ll need for tax season, including must-have tax season forms and links you’ll need to complete your return with us, tips on how to prepare ahead of time for an efficient tax return experience, and important hot topics and regulation changes for 2025.
Must-have Tax Season Resources
Here we’ve compiled everything you’ll need to complete your tax return with us, including steps to submitting your documents, access to forms, and contact information. Click one of these links for more information…
- All Tax Season Resources
- Client Information and Portal Information
- Flexible Options (Digital, Drop Off, or Appointment)
- All Forms (Worksheets, Engagement Letter, Questionnaires, & More)
- FAQs & Resources
- Office Hours & Directions
- Need an extension?
Tips for the 2025 Tax Season
At Storen Financial, we are always working hard to ensure that the process of completing your tax return is seamless and smooth. Here are some tips on how to prepare ahead of time for an efficient tax return experience this upcoming season.
- Call us in January if you would like an in-person appointment. Our accountants’ appointment schedules fill up quickly! (Appointment fees may apply.)
- When bringing us documentation, make sure to remove staples, paper clips, etc., from your physical tax documents, so we can safely scan these into our system.
- All tax documents for current clients are required by no later than March 30th to complete your return. After this date, there will be a $250 expedited fee to complete your return by the 4/15 deadline.
- If you’d like us to file a new trust or estate tax return, don’t forget to complete our New Trust and Estate Packet and provide us with your trust/estate setup documents, so that we can complete an accurate return. Call us to ask for this!
- Make sure to update your bank account information with us if it has changed.
Hot Topics/ Regulation Changes
As many of you know, there have been major changes in tax legislation this year. With the One Big Beautiful Bill Act, the landscape of tax legislation has shifted and brings with it multiple updates, the details of which are still being sorted out. Many of these changes will affect your 2025 tax returns and other returns to follow. Here are the most important changes for this tax season…
- Updates/changes for individuals provided by the One Big Beautiful Bill Act. Highlights include…
- $6,000 deduction for seniors
- New deductions on tip income and overtime pay
- State and Local Tax Itemized Deduction has increased to $40,000 annually
- Electric Vehicle Credits and All Home Energy credits end on 12/31/25.
- And more. Click here to learn the impact of the One Big Beautiful Bill Act on individuals.
- Updates/changes for businesses provided by the One Big Beautiful Bill Act. Highlights include…
- Increase in Section 179 Depreciation Expensing
- Qualified Business Income Deduction Made Permanent
- New 1099-NEC & 1099-Misc Requirements
- Bonus Depreciation Made a Permanent Deduction
- And more. Click here to learn the impact of the One Big Beautiful Bill Act on businesses.
- Elimination of Paper Checks – To reduce fraud, an executive order has eliminated federal agencies from sending or receiving paper checks as a form of payment. All payments will now need to be made electronically.
- IP Pin – If you opted in for an IP Pin through your ID.me account but don’t actually need one, you can opt out instead. You can also choose to opt in if you would like some additional security measures against tax-related identity theft and fraud.
Additional Storen Financial Resources
- Want to avoid the most common (and sometimes costly) mistakes on a tax return? Click here to read more in our “7 Common Errors on Tax Returns and Their Implications” blog.
- Have a complex tax situation that you fear may lead to a mistake on your return? Click here to read more in our “9 Complex Tax Situations” blog.
Click here to learn more about our tax planning and preparation services.
Or click here to contact us with any questions you have.
Blog by Kim Storen, EA – Senior Tax Accountant
Learn more about Kim and the rest of the Storen Financial team here.