Category Archives: Economy

Does the Affordable Care Act apply to your ministry?

We get asked this question a good amount as the law goes into effect  less than a year from now.  The very first place we go to answer that question is to determine if the ministry is a “Large Employer” … Continue reading

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What the new healthcare law means for your ministry

One of the main provisions from the Patient Protection and Affordable Care Act (A.K.A. the healthcare bill, Obamacare) that will affect churches and ministries the most is the tax credit for eligible small businesses and small tax exempt organizations. The … Continue reading

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Federal Reserve shows no signs of new action

The minutes from the March 13th Federal Open Market Committee (FOMC) meeting were released today, and the idea of a fourth round of asset purchases (a.k.a. quantitative easing) seems to be no more than a remote possibility. The FOMC is … Continue reading

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New studies show heavy debt burdens are holding areas back

New studies highlighted in a New York Times article today show that “…the recent recession may have brought about an enduring shift in the geography of American growth.” It goes on to say that, “Various kinds of economic activity, including … Continue reading

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U.S. district court grants IRS injunction against church leader

Earlier this month a U.S. district court granted the IRS an injunction against a church leader who was advising other ministers of his church (incorrectly) that they didn’t need to pay taxes to the IRS. The defendant was advising these … Continue reading

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Retail sales for February strongest in five months

The Commerce Department released their monthly retail sales figures for February showing a 1.1% increase in sales from the previous month, and a 6.5% increase from the same period a year earlier. Sales numbers from January were also revised up … Continue reading

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Employment and confidence gain, but high gas prices could threaten recovery

Since the start of 2012, economic data points have been moving in the right direction and seem to point to a recovery that is picking up steam. Friday’s report from the Labor Department provided more evidence to that end, with … Continue reading

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Congress does something right, for a change.

Back in December, Congress voted to extend the 2011 reduction in the social security rate paid by employees (the 2% reduction those of us subject to social security tax have been enjoying) until February 29, 2012.  Last Friday, they voted … Continue reading

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