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.
Jan 11, 2021
Income and Expense Reporting for small church
I need a simple way to record Income (member donations) and expenses for a very small church (less than 50 members.) I am not a bookkeeper in all fairness.
Continue reading "Income and Expense Reporting for small church"
Jan 11, 2021
What EIN is a pastor's income reported under with mulitple churches for 941 and W2
We have one pastor with 3 charges. We are looking having one lead church that pays his monthly salary and then the other 2 reimburse the lead church for
Jan 11, 2021
Last year's Contributions
Can I add January 2021 contributions to 2020 contribution report?
Jan 09, 2021
No Form Subscribe
I have not been able to find the form to subscribe in order to download free spreadsheet. Can someone help?
Dec 24, 2020
Why not include housing allowance in W-2?
Is there some logical reason not to include housing allowance on the W-2 form? I know that the cleric is not required to pay income tax on the clergy
Continue reading "Why not include housing allowance in W-2?"
Dec 24, 2020
Gift of Parsonage to Preacher
The church gave the preacher the parsonage via a Gift Deed. Value of the house/property is about $215K. At year end, do we need to provide a 1099
Dec 24, 2020
When is a love gift not considered income and considered a gift tax?
Our church for decades has collected a free will offering at the end of the year to gift to our pastor. It does not go through the church books at all,
Continue reading "When is a love gift not considered income and considered a gift tax? "
Dec 08, 2020
Can churches give a gift to try to get more money for Lottie Moon?
We were wondering if to try to get more money for our Lottie Moon Christmas offering our church wanted to give a coffee mug to those who give and it doesn’t
Continue reading "Can churches give a gift to try to get more money for Lottie Moon? "
Dec 08, 2020
Financial Gifts to an Unsalaried Pastor
Our pastor is not full time and holds another employment. The church gave him a love offering and financial gifts throughout the year that totals more
Nov 18, 2020
online paperless billing conversion
I am attempting to set up online billing for the majority of our vendors. We have quite a lot and some may not have the ability. I am looking for some
Nov 18, 2020
Can home renovations be used for UMC household furnishings allowance?
We are planning on renovating the kitchen which would include new cabinets and counters. I have a housing allowance but am wondering if I can make use
Continue reading "Can home renovations be used for UMC household furnishings allowance? "
Nov 11, 2020
Year End Checklist for Churches
See a year end checklist for churches. Includes tasks that should be completed before the end of the year to ensure a smooth transition into the new year.
Oct 23, 2020
How to Handle Clergy Tax
Clergy tax factors you need to know before setting up your pastor's payroll or to ensure you are doing it right.
Oct 22, 2020
Opt Out of Social Security Form 4361
For a minister to opt out of social security there are several conditions that must be met before they can file an IRS Form 4361.
Oct 15, 2020
Love offerings taxable from other churches?
I recently left my position as a worship pastor at a church in Maryland and are relaunching a church in Arizona as the senior pastor. In the process,
Continue reading "Love offerings taxable from other churches?"
Oct 15, 2020
Taxable for Pastor, but tax deductible for giver?
I'm still unsure about this. I've read quite a few articles and most tend to agree that the love offering donations are taxable income for the Pastor who
Continue reading "Taxable for Pastor, but tax deductible for giver?"
Oct 15, 2020
A Pastor who is collecting Social Security retirement benefit, but still works for the church...
If a Pastor is retired from secular work and is collecting Social Security, is he still limited to what the church can pay him without interfering with
Oct 15, 2020
Tax Deferred Retirement Account
We have a new interim pastor who wants $19,000 cash salary, $20,000 housing allowance, and $26,000 deferred compensation. He has set up an account with
Oct 15, 2020
Non-requested Donations?
I am a commissioned counseling minister and also ordained by a church and act as a pastor with no salary. When I begin a counseling relationship, I take
Oct 15, 2020
Local church giving money to parishioners to invest
A local church in mt are gave parishoners thousands of dollars to invest for the next several weeks. Then they give it back, and interest collected goes
Continue reading "Local church giving money to parishioners to invest "
Oct 15, 2020
Should all types of giving be recorded on the end of year contribution statement.
My church accepts Tithes and Offering 3 different ways. In person giving during service, through Givelify an online giving site, and through cash app.
Continue reading "Should all types of giving be recorded on the end of year contribution statement."
Sep 17, 2020
Does your church or denomination have to sign anything when you inform them of the opting out?
We are paying someone to help us with the completion of form 4361. They are asking me to send a 'letter of intent to exempt'. This form needs a signature
Sep 17, 2020
Non-Cash Gift for Pastor
Our pastor announced his resignation earlier this month. Our deacon board decided to hire someone to paint a painting of our church as a farewell gift.
Sep 09, 2020
Need a official W-2 and W-3
How do I obtain a W-2 and W-3 to complete for my pastor? I have signed up thru the IRS several times but it will not let me download the forms. Tired
Sep 09, 2020
Accountable reimbursement plan vs. church credit card
If each pastor has a credit card in the church's name that is paid for by the church, to be used for church/ministry expenses, is there any reason to also
Continue reading "Accountable reimbursement plan vs. church credit card"
Aug 24, 2020
How to record donations by check
How should a nonprofit record donations by check, specifically when it is from a joint bank account? Should they be recorded as being from the person who
Jul 14, 2020
H&R Block Housing Allowance for pastors
I had to go back and file my 2018 taxes. I am using H&R Block software. The church I pastored did not report my housing allowance on the W-2, which was
Jun 01, 2020
With Aplos, are there transaction fees for using online giving in addition to the monthly subscription?
Are there transaction fees for using online giving in addition to the monthly subscription? Many sites charge 2%-5% of the transaction amount plus .30
Jun 01, 2020
2 year rule
My husband and I went into ministry 6 years ago. When I filed our taxes with H&R Block, I inquired about why we were paying self-employment taxes. I
Need training on how to use QBO or Aplos effectively for a church or better yet ...need an expert in either of those accounting software to do your monthly bookkeeping and/or payroll? See more on our accounting services!
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