Love Offering For Visiting Songwriter
We are having a concert in which a songwriter (not an employee, or having any affiliation with our church) will be singing. In the advertising of the concert, it was stated that a love offering will be taken. Therefore, in comparing with IRS regulations: it was solicited and it will NOT be spontaneous in nature. So, will it be taxable income to the songwriter and a Form 1099-Misc will need to be issued if the offering is over $600? Also, will it be a tax deduction to the donors? vickey's reply You are correct. If it is processed through your church and a church check is issued, it would be taxable income to the recipient. If it is $600 or more, a 1099-Misc should be issued in January. Also... ...always remember to get a completed W-9 from the recipient even if you don’t think the offering will be over $600. The $600 rule is for the entire year...so if a recipient received $300 from your church when they visited your church in April and then received another $350 in December of the same year...you would be required to send them a 1099-Misc. Additionally: even though you do not send 1099-Misc to corporations...have all independent contractors fill out a W-9 even if you think they are incorporated. If they are, there is a place on the W-9 for them to indicate they are incorporated. If it was specified for that individual, it would not be tax deductible to the donors.
Join in and write your own page! It's easy to do. How? |
Church Accounting Package
- Want to learn some basic church accounting basics?
- Need to know how to fill out a noncash donation receipt?
- How about some tips on setting up a fund accounting system?
Would Highly Recommend. Took the mystery out of Church Accounting for me ...more...
Excellent Book! I highly recommend these books.
They are a necessity, WRITTEN IN PLAIN ENGLISH!
Errol James
Real Eye Opener. Not knowing a thing about church finances, this was a real eye opener and a great way to get us started ...more...
Very Helpful and Detailed I would recommend these books to everyone, I am from Canada and would also recommend it to all of the Canadian people involved in the Finance part of the church. Very helpful and detailed. A must get!! ...more...
more testimonies on bottom of this page...
Free Accounting Spreadsheets
when you...
Subcribe to my free newsletter: Stewardship
Your spreadsheets work wonderful-I have Pastored for 17 years in 3 different churches, and this is the best and easiest finance program for the Church that I have seen yet!
Pastor Tim
Thank you so much for sharing your spreadsheets! I expect the Lord will reward you in heaven for helping those of us that needed some quick help...more...
Darla
Free Spreadsheets I've downloaded several of your spreadsheets and I had no problem with them. They have helped me to keep better records, also they are well structured professionally...
more...
Mary
The free accounting spreadsheets were a life saver. I was able to immediately start using them and they saved me more time than I could ever imagine being able to save! I'm now organized!... more...
Recommended Products
