A Game Changer is about to be Released by the IRS Churches and other non-profit organizations depend upon donations from members and generous citizens to further their tax-exempt purpose. For a Church it is the tithes and offerings that are received during their regularly scheduled worship services that pay the bills, including salaries, and [...]
The Most Wonderful Time of the Year Andy Williams recorded a great classic many years ago that began like this: It's the most wonderful time of the year With the kids jingle belling And everyone telling you "Be of good cheer" It's the most wonderful time of the year It's the hap-happiest season [...]
Internal Revenue Service Auditing Churches – Is Yours Next? Many years ago, Churches never worried about intrusion from the Internal Revenue Service. For the most part the IRS never sought entrance to Church affairs. This has all changed. Churches are being audited by the thousands, with many being closed, and some Pastors and [...]
Avoiding the “Pay or Play” Penalty Some Churches have fallen prey to the “Pay or Play” penalty without realizing the financial incurrence that it will have upon their ministry. Beginning in 2015, large employers that fail to offer employee health insurance that meets Affordable Care Act (ACA) standards may be assessed a shared [...]
Beware of Who Is Completing Your Individual Tax Returns and Church Tax Form Filings It is quickly approaching the time of the year when Pastors will be filing their Income Tax Returns. Most of these will hire an individual or tax firm to complete this process on their behalf. While it is admirable for [...]
Are Contributions Made to You Protected as Tax Deductible Not all, but many who make charitable contributions do so with intentions of claiming them as deductions on their tax returns. For any donation to be accepted as a tax-deduction, the Church is tasked with a responsibility to ensure those contributions are proper and that [...]
Upcoming Elections and What Your Church Needs to Know As an election approaches, especially those that are Presidential, people get passionate in support or lack thereof for a particular candidate. This is especially true for Churches when one candidate seems to mirror their doctrinal beliefs while the other candidate is the antithesis. Almost [...]
Huge Penalties If You File Late Tax Returns Every year taxpayers, Churches, and especially Ministers, file tax returns late for a litany of reasons. Some are late because they are afraid of the amount of tax they must pay. Some blame their tax preparer for not completing the return in a timely manner. However, some file [...]
GIVE THANKS Today, I want to part from my normal Blog format and just write a few words from my heart on being thankful. Of the thousands of Churches that have closed and thousands of Pastors, Trustees, and Church Bookkeepers that have been indicted, all of them would probably gladly change places with [...]
Churches Must Obtain 501(c)(3) Approval Now As I travel across the nation teaching Church and Clergy Tax Seminars, I am continually amazed at Pastors, Church Leaders, and Bookkeepers who feel as if they are exempt from obtaining formal 501(c)(3) approval from the Internal Revenue Service. Some of these Pastors and Leaders feel as if [...]