Official Tax Season Launch for Storen Financial
The Storen Financial team has been working hard and gearing up for tax season. Chelsea Brown, Tax Operations Director, and Kim Storen, Senior Tax Accountant, led a two-day training session for our team of professionals. This includes our team members who are CPAs, EAs, MBAs, Business Accountants, and Administrative Staff Members.
The focus included a review of new tax law updates, improved internal and external processes, new forms and resources, and common questions that often affect our clients and their businesses. Thank you especially to Dr. Nick Moore of Restore Life Chiropractic for educating the team on ways to stay healthy during tax season. Our primary goal is always to make tax season an exceptional experience that runs smoothly for all involved!
Hot topics from this training event included:
- Updates to business mileage rates
- New overtime pay deductions
- New tip income deductions
- New $6,000 deductions for Seniors
- New increase in bonus depreciation for businesses
- Exciting new increase in the SALT deduction for itemizers
- New deduction for auto loan interest paid on a new vehicle
- Elimination of energy credits
- Decrease in the Indiana state tax rates
- New Trump Accounts for children under the age of 18
Our team remains diligent about staying up-to-date on the evolving laws and examining important tax-saving opportunities. We are committed to minimizing your tax liabilities and maximizing your future opportunities — while remaining in full compliance with IRS statutes.
Have questions about income tax preparation? Our newest blog compiles all the resources you’ll need for tax season, including critical updates on law and regulation changes, important information about data security, form links, and much more… Everything you need is here! Click here to read this blog.
Or click here to contact us with any questions you have.
Blog by Chelsea Brown – Tax Operations Director
Learn more about Chelsea and the rest of the Storen Financial team here.