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Blog Archive
January 12, 2017
Helpful Church Tax Information
Church Treasurers, are you looking for help with doing your job. I’d like to recommend the “Church Financial Guidebook” available from Baptist State Convention of North Carolina. Since taking the job as Treasurer for the WCBA in June 2016, I did some research and found out this book is available.
I’ve used it several times and continue to use it for inspiration: Romans 14:12, HCSB says "So then, each of us will give an account of himself to God." Just as we are responsible to God, we also are responsible for the proper stewardship of the resources, which are entrusted to us Matthew 25:14-30.
For help with different parts of my job.
Treasurers Responsibilities: pages 6 & 8 some of the subjects discussed; Principal Functions, Working Relationship with the church & Length of Service
Managing Designated Funds: pages 34 – 41 Suggested Steps in Establishing A Designated Fund, Working Model of a Designated Fund Policy, & Samples of Designated Funds, etc.
Compensating Church Workers: pages 42 – 50 Working with Personnel Committee on Salary Compensation, Maximizing Tax Benefits for Ministers, & information about Health Care Benefits, Cell Phones, etc.
Hiring Considerations for New Employees: pages 51 – 57 the required forms and the required information for the forms.
Federal Reporting Requirements (Payroll): pages 58 – 66 Social Security, required tax forms, W-2’s, 1099’s, etc.
Throughout the book there are numerous website resources for the Baptist State Convention of North Carolina, IRS, Guidestone and many other organizations.
Also, keep in mind the upcoming Tax Seminar at the MRC on the 24th of January 2017 at 6:30 PM.
From the WCBA Treasurer’s desk,
Charles Ledden