Join us on January 21st for our
New Zionsville Office Open House
What are others saying about Storen Financial?
Our goal is to provide our clients superior service and expert advice in a friendly, family-oriented atmosphere. Truly their successes are ours!
Having had Kim do our taxes for years, I’ve always known I could trust her expertise and knowledge. When I started my business 6 years ago, Kim walked me through every step of the way. Not only has she saved me a lot of money, she’s also saved me a lot of time! I look forward to our meetings and feel like family when I walk in the door!
I have been with Greg and the “Storen Financial Family” for over 20 years. It tickles me how Greg “knows” my spending habits and therefore knows how to invest for my current and future financial needs. With all the choices of financial companies that want your money; it’s important to chose a team that stays with and cheers you along to achieve your financial goals. Here’s to another 20 years Storen Financial!
After the death of my husband, I turned to Greg to help me maneuver my finances and ensure my son and I could live the way my husband wanted. Greg is not only my financial advisor, he is a great sounding board and friend both professionally and personally. Absolutely couldn’t find a better team than Greg, Lynn and Kim!
Frequently Asked Questions
How do I track my refund?
NEW! IRS2Go is the official mobile app of the IRS. Click here to learn more and as always, feel free to contact us with any questions you have.
Is there an age where Social Security is not taxed?
How are Indiana State and Local taxes calculated?
For new residents of Indiana, there is a learning curve on understanding State & Local taxes. Indiana has a flat rate for the State of 3.23%. So if you have $10,000 or $1,000,000 of taxable income, you are taxed at the same rate. In addition to this, each individual pays a county tax and each County can set their own tax rate. County rates range from .35% for Jefferson to 3.38% for Pulaski. There are a few exceptions to the rule, but an Indiana taxpayer is subject to County taxes based on where they lived on January 1st of the tax year. Click here to see more FAQs.
How much retirement income is taxed in Indiana?
Like a lot of other States, Indiana does not tax Social Security Benefits. Also, Indiana gives a full or partial deduction for pensions that originate from Railroad Retirement Board, Office of Personnel Management and Defense Finance and Accounting Service (Military Retirement). If one is not lucky enough to be receiving retirement from one of the listed entities, then your retirement income will be fully taxable to State and County. To keep from owing to Indiana on your Tax Return, please ask the Administrator if they will withhold State taxes on the benefits. If they do, then as a rule of thumb, we tell clients that 5% withholding will cover most taxpayers in the state. This covers both State and County rates. If someone knows that they live in a county with a rate greater than 1.7%, then take the percentage up to have withheld 6% or 7%. If the Administrator will not withhold State taxes, then Quarterly Estimates may need to be sent in. Like the Federal, Indiana can charge an Underpayment Penalty if more than $1,000 is owed at the end of the year.Click here to see more FAQs.
What do I bring to my tax appointment?
Get the full list of the items you need here in this checklist.
The Latest News from Storen
Happy New Year, I am excited about the future and look forward to all that the year can offer. The first quarter is often the time that we all have our personal finances at the top of mind. With new employer benefits taking effect for the year, as well as preparing...
Join us for an in depth discussion with Greg Storen about the SECURE Act. Join us for an educational seminar on “The Secure Act” by Greg Storen, owner of Storen Financial. Greg is a Financial Advisor and Senior Tax Professional. This event is designed to inform you...
We want to bring to your attention new compliance requirements from the IRS for S-Corporation shareholders. The IRS will now begin to audit shareholder basis statements. In 2020, they will begin to send audit letters to all shareholders who do not attach a basis...