Please post questions, comments and other information here concerning Tax Issues for U.S. Churches.
What are some steps you will take in the coming year to satisfy the requirements of U.S. Tax laws?
Are there any areas where you might improve in the area of Tax Issues?
What did you learn from this session that you didn’t already know?
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I really appreciate this vital information. It is nice to know that there are talented people that work with this to give us the needed information to do what is right by our church. I am really going to to work on applying all of the resolutions that was mentioned to our church in the very near future.
ReplyDeleteThe concerning part for me is knowing how to stay on top of all the different laws that the tax officials pass down. it seems like to me that there is new laws every year and its a struggle to make sure that everyone is meeting those requirements. I would love to see a churchwide email that updates all of the pastors on what to look for and how to make the changes in our own church so that we are covered. Just a thought. Great teaching again thanks Bro. Jayroe for the information.
ReplyDeleteThank you Bro. Jayroe! This session is very helpful. We just applied and got approval for Home Missions , so now I feel a little better prepared in helping to set up our Legal side of the new church. I've already had a record keeping method, using my home computer and backup every time I put information into the program with an external hard drive.
ReplyDeleteWhat did I learn.. I had no idea that saving envelopes ever occured. I have never written on the outside of the envelope any amount on the inside. I had used this only as a way to contridute without letting anyone other than the treasurer know what I gave. So this was an eye opener. But it does make a difference when recording contributions given in the offering. When someone gives cash. I do not give credit to individuals unless they use an envelope. But I had been throwing them away. No More!
ReplyDeleteAlaskaelmore,
ReplyDeleteI too am very thankful for the lessons of Bro. Jayroe. I can only imagine how many calls he takes from folks all over the USA. Lord bless him in the important area!
"GREAT" information! As mentioned in a previously lesson, we are to be "stewards". Naturally stewards of the church's money, stewards of people, and lessons like this help us to be good stewards of the church's records!
ReplyDeleteI've been either full time in the minsitry, or self employed for most of my adult life. Being self employed, I've always kept records and usually received a 1099. I had no idea that the chances of getting audited were that much greater by using a 1099 instead of a W-2. This is definitely something I will try to correct in the future!
ReplyDeleteI'm with you Bro. John R! I've never heard of "keeping" envelopes. We have them available for use but hardly anyone uses them. I guess this is ok as long as payment is made with a check. I've always encouraged membership to use envelopes, especially with cash offerings. However, open cash is still placed in our offerings.
ReplyDeleteI am also new to this idea of keeping the envelopes. We have them sitting on a table but have loose cash that goes into the offering. I've not thought of this yet.
ReplyDeleteI appreciate the detailed info of Bro. J on this issue. When we began I called him and he pretty much gave me a list of what to do and not do in the beginning. That with this is a great set of guidelines. Thanks again.
ReplyDelete(aka the sanctuary) This is a compelling session that spoke to many areas that I have need for improvement! I appreciate the issues that spoke about how we need to have resolutions policy that can allow for the minister and church to give toward reimbursement. This is going to need to be something that I address this year as to this point, we have simply tried to pay our bills as they came in to the church as well as refund individuals the amount they may have paid for a church expense. Thanks for the great and needed sessions.
ReplyDelete(aka the sanctuary) I appreciate the section of this lesson that addressed how we are to consider the liability issues around discrimination and benefits with employees of the church. So far, this isn’t a problem as no one receives any funding including myself because the church is so new. However, when the time comes for me to receive some sort of salary, it would be prudent to consider some of the suggestions and thoughts that this lesson mentioned.
ReplyDelete(aka the sanctuary) Ed Gann: Thanks for sharing that you are not the only one trashing tithing envelops. I did the same thing! I had no idea that this could be used as a record. Hopefully, we can do a better job with our church in following up with this and keeping better records (and old envelops) in the future!
ReplyDeleteI'm glad this session was made available. it helped answer several questions I had concerning tax preparations. This lesson also made me aware of a need to pay attention to the new laws concerning taxes. I feel it is important to protect myself and the church in this area, but have always wondered if I was doing a good enough job at it. This class has helped to settle some of those concerns.
ReplyDeleteI was surprised to learn from this session that the chances of getting audited for filing with a 1099 were so high. From now on, I will make sure to file using a W2 form.
ReplyDeleteI did not know that the IRS was more likely to audit if you used a 1099 instead of a W-2.
ReplyDeleteI appreciate that this session was presented. The area of financial stewardship and record-keeping is vital to making sure we are above reproach.
ReplyDeleteI thank God that someone directed me to Bro Jayroe who helped establish us a corporation, and set up all our start. It would be wonderful if every district had a specialist that would work with Home Missionaries to help assist them on the ground. The sooner the better.
ReplyDeleteWe recently inquired with a tax specialist and non-profit expert here in Oregon. He has been a blessing to us and he is charging us little to nothing to help us while we are small. He has set us up with a EIN number and helped us with quarterly reports, and other filings. We must be accountable and do things right. It's a responsibility we have to the Name of Jesus and the advancement of His Kingdom.
ReplyDeleteIt is very helpful to know that the "wording" for certain forms, resolutions and bylaws change periodically. My question is, can these forms, resolutions or bylaws be "grandfathered" in?
ReplyDeleteWhat are some steps you will take in the coming year to satisfy the requirements of U.S. Tax laws?
ReplyDeleteWe are going to have Jayroe and Associates come in to review our books and make sure everything is complaint :) (seriously!)
Are there any areas where you might improve in the area of Tax Issues?
I need to stay on top of the changes that are made from year to year and making sure that our office is keeping everything that we're supposed to be keeping.
What did you learn from this session that you didn’t already know?
I didn't know that the IRS was more likely to audit if you used a 1099 instead of a W-2 as well