News & Resources
Have questions? Looking for helpful resources and links? We’ve put together these resources to help you get answers to your questions. Need more information, give us a call! Also, don’t forget to check out our blog for the latest information.
Below are the resources we’ve assembled to help you on your financial journey. Click these buttons to quickly find the information you’re looking for and please don’t hesitate to give us a call if you have any questions.
Latest news, blogs, events and resources from our team…
Our goal is to share pertinent information with you through our blogs, resource links, social media posts and updates. On our blog you’ll find all the tools resources and information you need. Have questions? Give us a call!
Now Hiring!
Storen Financial is continually growing. We are grateful for our current client base and the many new clients arriving daily. Because of this growth and to keep up with the demand, we are hiring a variety of positions. To learn more about each position and to apply,...
Hobby or Business?
A common question we receive here is how to determine whether you have a hobby or a business. There is not just one determining factor, but many variables, as listed in the article below, that are taken into account. If an individual, partnership, estate, trust, or an...
Now Hiring – Small Business and Individual Tax Accountant
Small Business and Individual Tax Accountant We are looking for a self-motivated tax accountant to work with small businesses and individuals. The ideal candidate would be a self-starter with strong attention to detail with a desire to help small business owners grow...
Shred-it Day is coming in May!
Our Shred-it Day is coming in May! The Rays paper shredding truck will be at our Zionsville office on May 22nd to instantly shred all your personal documents on site. Our Shred-it event is a secure way to get rid of your documents containing personal information all...
Business Entity Pros and Cons
What type of business entity structure is right for your business? One of the most common questions we receive from entrepreneurs and business owners is what type of business entity structure is right for them. A crucial step when starting a business, is deciding what...
How to Take Money Out of the Business – Part 1
Welcome to the first of our 4- part series, where we discuss how business owners can withdraw money from a business with limited tax impact. In this month’s blog we discuss some general information about classifying money that is put in to a business, and money that...
Scams & Identity Theft
Phone scams, email phishing scams, and identity theft continue to grow and become more sophisticated. We are providing information courtesy of the IRS and the Indiana Department of Revenue to assist you. We will also keep our blog updated as we learn of new developments.
Please know that the IRS will never initiate contact with you over the phone demanding money, nor will they demand that you pay by a cash card immediately or you will be arrested. This is just one scam—but one that has happened all over the U.S. and many cases here in Central Indiana. Be aware!
Helpful links to read the most up to date information:
How can we help?
At Storen Financial, we offer so much more than tax preparation and accounting services. We go beyond the numbers to provide our clients with financial planning, in-depth consulting, and year-round support. Looking for more info? Click below to learn more.
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
Now Hiring!
Storen Financial is continually growing. We are grateful for our current client base and the many new clients arriving daily. Because of this growth and to keep up with the demand, we are hiring a variety of positions. To learn more about each position and to apply,...
Hobby or Business?
A common question we receive here is how to determine whether you have a hobby or a business. There is not just one determining factor, but many variables, as listed in the article below, that are taken into account. If an individual, partnership, estate, trust, or an...
Now Hiring – Small Business and Individual Tax Accountant
Small Business and Individual Tax Accountant We are looking for a self-motivated tax accountant to work with small businesses and individuals. The ideal candidate would be a self-starter with strong attention to detail with a desire to help small business owners grow...