The Church Finance & Minister Tax Podcast- Church finances, Minister Taxes, Minister payroll, IRS Compliance

Ep 21 ~ Is it Right for a Christian to Want Success?

Success is the continuing achievement of becoming the person God wants you to be and accomplishing the goals God has helped you set.
In the Introduction of Dr. Charles F. Stanley’s book “Success God’s Way”, Dr. Stanley says “At the very outset of this book, I want to state that I firmly believe God desires for His people to be successful and that God not only desires this, but also is committed to helping His people become successful. In fact, most of the concepts that might be termed “principles for success” are ones that are based upon God’s Word.”
In today's episode we will cover 3 areas that will help you achieve success in your business:
1. Consistency
2. Efficiency
3. Focus
I hope you are blessed by what you hear. 
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/6steps
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Email Me:
michelle@churchfinances.org
Want to work with me:
www.hallmarktax.com   (outsourced services)
https://churchfinances.as.me/schedule.php    (church consultation)
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Ep 20 ~ Charitable Contributions – How to Prove what was Donated

Making sure that your charitable contributions are properly documented can make the difference if you ever get audited.
 
In this podcast, I go over the taxpayer AND the churches responsibility in documenting charitable donations along with giving an example of a case that went to tax court in 1994.
 
Enjoy!
xo,
Michelle
Next Steps:
Grab Your Free Resource:
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Email Me:
michelle@churchfinances.org
Want to work with me:
www.hallmarktax.com

Ep 19 ~ What is an Enrolled Agent? What Services do they Offer and how can I become one?

An enrolled agent is a person who has earned the privilege of representing taxpayers before the Internal Revenue Service.
There are a few steps involved in obtaining this designation.
You can check out https://www.irs.gov/tax-professionals/enrolled-agents/enrolled-agents-frequently-asked-questions  for more information. 
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Email Me:
michelle@churchfinances.org
Want to work with me:
www.hallmarktax.com
 Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax     (EVERYBODY)

Ep 18 ~ How to Choose the Best Payroll Processor for your Church

Managing payroll for your church can be a complex task, and it's important to choose the right payroll processor to ensure that your church is in compliance with tax laws and regulations. As you have already heard me say, not everyone who does payroll knows how to properly process church payroll. It is a specialized area of payroll and you need to choose wisely before trusting such an important aspect of your churches finances and tax compliance to another company. I’m going to give you 6 checkmarks you need to have before selecting your payroll processor.
When choosing a church payroll processor look for the following:
experience
compliance
customer service
security
flexibility
cost-effectiveness.
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Email Me:
michelle@churchfinances.org
Want to work with me:
www.hallmarktax.com
 Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax     (EVERYBODY)
 

Ep 17 ~ Choosing the Services you will Offer in your Bookkeeping Business

Hey there! On today’s episode I am going to cover 6 different service areas a bookkeeping firm can offer. But first, let’s define the term “bookkeeping”. Bookkeeping is the process of recording, categorizing, and reconciling financial transactions of a business. It includes tasks like recording invoices A/P, payments A/R, receipts, and bank statements. And why is what we do is important? because it helps organizations and businesses to keep track of their financial records, make informed business decisions, and meet legal and tax obligations.
So let’s see what services you can offer in your bookkeeping business…. Let’s get learning!
Basic Bookkeeping 
Payroll management
Tax preparation
Consulting/Coaching 
Training
Representation work
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Email Me:
michelle@churchfinances.org
Want to work with me:
www.hallmarktax.com
 Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax     (EVERYBODY)

Ep 16~ Why Doing an Internal Church Audit is a Great Idea

Although the chances of your church being audited by the IRS are slim, they do happen. One way to help squelch the odds of that happening is to have your church perform an ANNUAL Internal church audit. Most churches are not large enough to warrant the cost of a full-blown external CPA audit, so an internal audit is just the ticket to help ensure ongoing accountability, transparency and compliance.
In today’s episode we are going to cover 4 reasons to perform an internal audit AND some areas that I highly recommend that you include in such an audit.
Reasons to perform an internal audit:
1.    Ensuring Financial Accountability
2.    Strengthening Internal Controls
3.    Demonstrating Transparency
4.   Compliance with Legal and Regulatory Requirements
Areas to include in your audit:
1. Financial statement reporting (monthly reports)
2. Cash receipts (including counting offerings)
3. Donation recording
4. Cash disbursements (petty cash fund?)
5.  Bank statement reconciliation
6.  Assets (bldg./land/equipment) & Insurance policies
7. Accounts Payable (incl. any outstanding mortgages/notes payable)
8. Personnel (EE records/files/proper classification) & Payroll filing requirements
And then end the audit with goals you have for the upcoming year.
 
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/guide
Learn More:www.churchfinances.org
Email Me:michelle@churchfinances.org
Want to work with me:www.hallmarktax.com
Join the FB Community:
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Ep 15 ~ Essential Tools to Keep your Bookkeeping Business Running Smoothly

In today's episode I share the essential equipment every bookkeeping office needs to help keep it running smoothly such as:
computer
printer
scanner
software
ergonomic equipment
I share the equipment/software I use and why. I hope you enjoy!
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Email Me:
michelle@churchfinances.org
Want to work with me:
www.hallmarktax.com
 Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax     (EVERYBODY)

Ep 14 ~ Accountability in the Church - It’s Vital!

In today’s episode, I am going to touch on why I believe it’s vital that accountability in the church NOT be optional and I will give you practical and tactical steps to help ensure accountability in 5 areas of your church.
Some ways that we can foster/create accountability within the church include:
Leadership Accountability
Congregational Accountability
Transparency and disclosure
Training and Education
Policies and Procedures
EVERY church office should have a Finance Policy & Procedure Guide. Here are just three areas that need to be addressed in a formal P & P guide:
Contributions
Check writing/bill payment
Reimbursement
As we all well know – Money Matters. And how we handle our finances ( and ESPECIALLY the Lord’s finances) says a LOT about the condition of our hearts.
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Email Me:
michelle@churchfinances.org
Want to work with me:
www.hallmarktax.com
 Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
 
 

Ep 13 ~ 3 Tips I Believe Every Business Owner needs to do to Ensure Success

Welcome to another episode of the Bookkeeping with a Purpose podcast. Today I will be discussing 3 Tips I believe every business owner needs to do to ensure success. These tips include:
Tip 1: Make your estimated tax payments
 
One important aspect of running a successful business is paying your taxes and paying them on time. You wouldn’t think that you would have to tell bookkeeping professionals this, but everyone is at a different experience level and I want to make sure that any newbies here get off on the right start. Many business owners tend to overlook this aspect of their business, which can lead to serious financial and legal consequences. To avoid this, it's crucial to make your estimated tax payments and make them on time. By doing this, you'll be able to avoid penalties and interest charges that can quickly add up. Because we NEVER want to give the gov’t more than they are legally due.
Here are fours ways you can calculate your estimated tax payments
Use IRS Form 1040-ES
Calculate based on prior's year tax liability
Use an online tax calculator
Work with a tax professional
Tip 2: Ignore the Naysayers
 
As a business owner, you're bound to encounter naysayers (or who I call negative nellies) who will try to discourage you from pursuing your dreams. These may be well-meaning friends, family members, or even other business owners who don't believe in your vision. However, it's essential to ignore these negative nellies and stay focused on the dream and goals you believe God has given you.
Here are 6 ways you can ignore the naysayers
Believe in yourself
Focus on your goals
Don't take it personally
Surround yourself with positive people
Use criticism constructively
Stay motivated
Tip 3: Obey God and Leave all the Consequences to Him
 
One of the most crucial aspects of achieving business success God's way is to obey God and leave all the consequences to Him. As a business owner, it's easy to get caught up in the pursuit of success and lose sight of what's truly important. However, by putting your faith in God and trusting Him to guide your steps, you can achieve true success and fulfillment.
So….how do we know what God’s will is for us and our business? We spend time in prayer and reading the Word of God (the Bible) to hear Him speak to us and then watch for Him at work throughout the day and then join Him in His work. Because if He’s already working in a particular way, and He reveals it to you, that is His invitation for you to join Him. And that’s when business becomes fun!
 
Remember that success is not just about financial gain, but it's also about making a positive impact on the world and living a life that honors God. By following His commands and leaving the outcomes to Him, you can find peace and purpose in your business, regardless of the challenges you may face.
 
I hope that you are blessed from listening today.
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Email Me:
Info@churchfinances.org
Want to work with me:
www.hallmarktax.com
,

Look your best. Do your best. Be your best. Thank you Dr. Charles Stanley.

The man who had the greatest impact on my life passed away today and in this extra episode I share how he did that. I hope that you are blessed. 
 
xo
Michelle