Nonprofit and Church Accounting Blog
This accounting blog...
- informs you when any new web pages appear on my site,
- shows you the latest question, comment, or tip posted by readers...(please feel free to browse the questions below and answer the ones you feel comfortable answering),
- let's you know when an error is found in my free financial spreadsheets and how to correct them.
Oct 07, 2018
Tax Consequences of Volunteer and Staff Gifts
Giving your volunteers and staff gifts can have some dramatic tax consequences. For example, giving a volunteer an appreciation offering can result in a significant "tax event" for the volunteer and the organization!
Continue reading "Tax Consequences of Volunteer and Staff Gifts"
Oct 07, 2018
Restricted Account Balance at Yr End
I have done church bookkeeping over 20 years but this is the first year with a new software. We have several temporary restricted accounts for things
Oct 07, 2018
Recording the Initial Deposit Acquired via a Loan
Our church has taken out a loan for some building improvements. Obviously, we've recorded the debit to cash and credit to a new Loan Liability account.
Continue reading "Recording the Initial Deposit Acquired via a Loan"
Oct 07, 2018
No house allowance provided
I am helping our pastor do his taxes for 2017. He receives no parsonage or allowance for housing. He owns his house. He has all his house expenses.
Oct 07, 2018
What happened to the $9,000
Using the example - I believe you are saying the cash amount received for the year is $25,000. What happened to the $9,000? It isn't subtracted from
Oct 07, 2018
Think twice about hiring CPA
We have found it isn't necessary or favorable to hire a CPA. Their hourly fees are very high because of their expertise especially involving income taxes.
Sep 18, 2018
Health Sharing Ministries as alternative to health insurance
Our church has opted out of traditional health insurance and instead recommend (not required) that our pastors join a health sharing ministry such as Samaritan
Continue reading "Health Sharing Ministries as alternative to health insurance"
Sep 15, 2018
HA while living with parents to save for downpayment
My husband and I are trying to sell our house to build a new one. We will probably end up living with his parents for six months (rent free) next year
Continue reading "HA while living with parents to save for downpayment "
Sep 08, 2018
Church Accounting Software Reviews
Which church accounting software is best for your church? See what you need to look for in nonprofit accounting software and what other church administrators are saying about their accounting software
Sep 08, 2018
Approved 4361, Does the church have to pay the Social Security
If a pastor has an approved 4361 does the church have to pay the Social Security Match? Vickey's Reply: With or without an approved 4361, a church does
Continue reading "Approved 4361, Does the church have to pay the Social Security"
Aug 25, 2018
Using Funds From the Church to Establish Transitional Housing
If the church ceases to operate as a church in its primary mission (lease on building used for church services is running out with no plans to renew) and
Continue reading "Using Funds From the Church to Establish Transitional Housing "
Aug 14, 2018
Are tithes made by church staff tax deductible?
I'm wondering if the tithes I donate to my church would still be eligible for tax deductions if I become an employee of the same church.
Continue reading "Are tithes made by church staff tax deductible?"
Aug 14, 2018
Misclassification of Workers in a Church or Nonprofit
Misclassification of workers is a big issue with many small churches and nonprofits.
Continue reading "Misclassification of Workers in a Church or Nonprofit"
Aug 08, 2018
Hourly employee being paid for hours worked with her husband
We have an hourly custodian employee who would like to have her husband help her clean and be paid for the hours that they both do together. For example
Continue reading "Hourly employee being paid for hours worked with her husband"
Aug 08, 2018
HA for independent or assisted living facility in retirement?
If a retired minister lives in an independent or assisted living facility, can the HA be used to pay for the expense of the facility, since that it is
Continue reading "HA for independent or assisted living facility in retirement?"
Jul 26, 2018
What's the difference between form 4361 and form 4029?
Every I see says to fill out form 4361 to opt out of social security. However this form doesn't say social security, it says Exemption from Self-Employment
Continue reading "What's the difference between form 4361 and form 4029?"
Jul 21, 2018
Missions Trip Contributions
We've recently received contributions for our church's mission trip. For some checks received though, the memo line contains the name of the individual
Jul 21, 2018
Define "reasonable" for a Pastor's salary.
What is considered by the IRS reasonable compensation for a pastors salary? Or can reasonable be whatever a church memer/pastor petsonally feels is appropriate
Continue reading "Define "reasonable" for a Pastor's salary."
Jul 12, 2018
"Gifts that flow from the church ...
I don't want to make any assumptions: 1.Pastor announces a special collection to help his colleague(a visitor to the church) start a new church. Cash
Jul 07, 2018
Tax Cuts and Jobs Act (TCJA) Effect on Churches and Nonprofits
How is the new tax reform laws in the TCJA affecting churches and nonprofits? Read how some of the new laws could require some them to file and pay taxes for the first time.
Continue reading "Tax Cuts and Jobs Act (TCJA) Effect on Churches and Nonprofits"
Jul 07, 2018
Accountable Reimbursement Plan Guidelines
Review the 3 requirements for accountable reimbursement plan reimbursements to be considered accountable.
Continue reading "Accountable Reimbursement Plan Guidelines"
Jul 07, 2018
The hospital I am a chaplain for withheld social security on my housing allowance!
The hospital I am a chaplain for (I am an ordained minister) withheld Social Security on my entire salary, including the housing allowance. The IRS responded
Jun 29, 2018
Still an ordained minister but not employed by the church
My question is if I'm still an ordained minister and registered with the state but no longer employed by a church, can I still receive housing allowance
Continue reading "Still an ordained minister but not employed by the church"
Jun 29, 2018
Facilities director AND Campus Pastor
I am interested in learning more about when a pastor is considered a minister as determined by the IRS. I My full-time facilities manager has recently
Jun 29, 2018
Sending Flowers
under IRS Rules for 501c3 organizations, can a church send flowers to an individual with its fund, whether to a member or nonmember of church? In doing
Jun 29, 2018
Pastor Payroll Help
I have just started doing the bookeeping for our small church. I am unfamiliar with pastoral payroll. I have three main questions outstanding following
Jun 29, 2018
Accountable Reimbursement Plan
Can this type of plan be set up for a volunteer in the church? Say the Pastors wife?
Jun 17, 2018
Understanding Financial Statements for a Church
Preparing and understanding financial statements for a church or nonprofit.
Continue reading "Understanding Financial Statements for a Church"
Jun 03, 2018
W2 Box 1 negative when including Housing Allowance and Retirement Contribution
My denomination allots a housing allowance of 75% of gross income, for which I can fully utilize by making additional house payments toward the mortgage
Continue reading "W2 Box 1 negative when including Housing Allowance and Retirement Contribution"
Jun 01, 2018
Compensation Package with Prepaid Debit Card
Can you tell me if there are any stipulations to offering a prepaid debit card for an allotted amount of hospitality to a church employee as part of their
Continue reading "Compensation Package with Prepaid Debit Card "
Need a Consultation, help setting up an effective Accounting System, or someone to do your monthly bookkeeping?
 |
Recommended Resource!Online classes/courses on how to use QuickBooks for a church! |
Use coupon code "FCA" for 10% discount!
Quick Links: Home | Blog | Newsletter | Free Spreadsheets
Products: Church Accounting Book | Church Accounting Package | Spreadsheet Package
Support: FAQ | Church Accounting FAQ | Contact
Site/Company Info: About | Terms of Use | Site Map
