Bankruptcy Indiana

I try to make holidays special for my children, and if I can squeeze in a little bit of a history lesson around each American holiday, I give that a try. When it comes to Tax Freedom Day, though, I'm not sure they "get it", at least not yet.  But, for me as a bankruptcy attorney in Indiana, I do get the concept of
Tax Freedom Day, which marks the point at which the average American stops working to pay federal, state, and local taxes and starts working to pay all the other bills for self and family.

As a debt consolidation lawyer offering all sorts of bankruptcy information in Indiana, I know Tax Freedom Day has been getting later and later.  Who's measuring that? An organization called the Tax Foundation, which also calculates Deficit Day, the day when the federal government runs out of tax revenue and begins to use borrowed money. (That one's getting earlier and earlier, needless to say!).

My interest in all this, of course, is in providing Indiana bankruptcy help, along with the Indianapolis, Bloomington, Anderson, and Columbus bankruptcy lawyers who work in the various Zuckerberg bankruptcy law offices around the state.  The Tax Foundation reported that Indiana's Tax Freedom Day last year was April 8, with Hoosiers working, as a group, the first 98 days of the year to get all the taxes paid.

Since I often find myself explaining what bankruptcy can and can't do when it comes to tax debt, let me share with you what kinds of taxes Indiana residents actually pay, from biggest to smallest:

Individual income taxes                                               38 days' work
Payroll taxes                                                                27 days' work
Sales and excise taxes                                                15 days' work
Corporate income taxes                                                6 days' work
Property taxes                                                             12 days' work
Miscellaneous (motor vehicle licenses,
severance, estate taxes)                                               4 days' work

All statistics aside, I've devoted my career to offering Indiana bankruptcy help, student loan debt help, payday loan debt help, and help stopping foreclosure, I'm really interested in a different kind of Freedom Day.  I'm looking forward to wishing each of my Indiana clients and bankruptcy blog readers "Happy DEBT Freedom Day!