This accounting blog...
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!
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
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.
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.
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
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.
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
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
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
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
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
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.
Misclassification of workers is a big issue with many small churches and nonprofits.
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
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
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
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
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
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
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.
Review the 3 requirements for accountable reimbursement plan reimbursements to be considered accountable.
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
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
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
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
I have just started doing the bookeeping for our small church. I am unfamiliar with pastoral payroll. I have three main questions outstanding following
Can this type of plan be set up for a volunteer in the church? Say the Pastors wife?
Preparing and understanding financial statements for a church or nonprofit.
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
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