by the Storen Team | Jul 10, 2023 | Businesses, Financial Planning, Resources, Resources for Businesses, Taxes
Avoid Penalties with the Help of a Tax Professional A complex tax return includes anything beyond filing a W-2 consisting of a paycheck and interest on your bank account. Any other financial transactions or major life events will generate more tax documents to file,...
by the Storen Team | Jun 15, 2023 | How-to, Taxes
What is the pass-through entity tax? “Gov. Eric Holcomb signed Senate Enrolled Act 2 into law Feb. 22, 2023, authorizing certain pass-through entities to voluntarily elect to pay tax at the entity level based on each owner’s total share of adjusted gross income. It is...
by the Storen Team | Apr 20, 2023 | Businesses, Resources, Resources for Businesses, Taxes
What is “pass-through entity?” “A [pass-through] entity is a legal business entity that passes any income it makes straight to its owners, shareholders, or investors [such as a Partnership or S Corporation]. As a result, only these individuals—and not the...
by the Storen Team | Apr 7, 2023 | Financial Planning, Resources, Retirement, Taxes
Strategizing a Tax-efficient Wealth Transfer Plan When discussing legacy planning and wealth transfer, it is important to consider the financial implications that will come to those who receive your generosity. Considering the most tax-efficient methods should be at...
by the Storen Team | Mar 14, 2023 | Resources, Taxes
Tax Time Guide: Things to consider when filing a 2022 tax return “Unlike 2020 and 2021, there were no new stimulus payments for 2022, so taxpayers should not expect to get an additional payment in their 2023 tax refund… Some tax credits return to 2019...
by the Storen Team | Feb 1, 2023 | Businesses, Resources, Resources for Businesses, Taxes
Diving Deeper into Complex Tax Law Changes Last month, the Storen Financial tax team completed a two-day training session led by Tax Services Manager, Kim Storen. Over the course of this training, we focused on collaboration of processes, new tax law updates, forms...
