Both Social Security and Medicare taxes are deducted from each paycheck to fund these important government programs. How much are Social Security and Medicare taxes? Social Security tax is 6.2% on $147,000 of earned income. The maximum Social Security tax for employees is $9,114. Medicare tax...
The Freedom of Information Act (FOIA) in Indiana ensures public access to government records of a federal agency. However, certain records and meetings are exempt from disclosure, such as social gatherings, on-site inspections, caucuses, and discussions about commercial prospects without decision-maki...
Indiana Clarifies Pass-Through Exemptions for Government Construction Contractors In their response to a request for guidance, Indiana has issued a ruling discussing the eligibility for construction contractors to use the tax-exempt status of their customers when renting or purchasing equipment. News &...
Ambrose, Eileen
The U.S. House of Representatives passed a bill empowering the Treasury Dept. to eliminate the tax-exempt status of any nonprofit it deems to be supporting terrorism. Without clearly defining key terms, the law “could become a blunt sword that can be used against everybody,” says IU schol...
Form a Nonprofit in Indiana Choosing to form a nonprofit involves many of the same steps as a corporation or LLC; however, with this business structure, you can apply for tax exemption, otherwise known as 501(c)(3) status, through the IRS. File a Name Reservation Name Your Nonprofit Choos...
A Certificate of Gross Retail or Use Tax Exemption (Form 48841), if exempt from paying sales tax. Proof of address, including a driver license or identification card (if the address on the license or ID card are current). Proof of the applicant’s SSN or Federal Identification Number (FIN...
Even if you aren’t actively seeking debt relief, Indiana has an array of programs and grants available to help in a financial crisis. Some of these programs are federally funded, while others are offered at the local or state government level. They can help with things like: ...
The U.S. House of Representatives passed a bill empowering the Treasury Dept. to eliminate the tax-exempt status of any nonprofit it deems to be supporting terrorism. Without clearly defining key terms, the law “could become a blunt sword that can be used against everybody,” says IU schol...
It's one thing to threaten to remove tax-exempt status for churches and schools; it's another thing for those schools and churches and synagogues to continue to take government funding and not expect that funding to be vulnerable to the shifting cultural and political winds. The only way to...