Navigating Church Finances: Keeping it Simple & IRS Compliant l Church Bookkeeping, Church Payroll, Minister Taxes
Hey there, I’m Michelle and I love all things Jesus, business and church finances! I help church finance individuals just like you go from feeling confused and frustrated with what you don’t know about church finances, to being more confident in your role while increasing your proficiency and expertise in the church finance realm. Are you tired of Google searches that result in endless pages of answers to your questions about church finances, housing allowances and clergy taxes? Do you need help with getting the right processes and procedures in place for your church office or business? Are you looking for a group of like-minded believers who understand your desire to do business and serve the local church God’s way? In this podcast, you will find practical AND biblically based business solutions for your church office or bookkeeping business that serves churches . We will give you tried and true bookkeeping tips and lessons that are specific to the church ministry and other foundational practices that you need in place to make sure that the church(es) that you serve are in compliance with current industry standards and IRS tax code. My mission is simple: to help church bookkeepers/treasurers/finance individuals become more confident in their role and increase their expertise in church finances so the church can continue her mission of spreading the Gospel of Jesus Christ If you are ready to walk out the calling the Lord has on your life while serving Him with excellence - then you are definitely in the right place! If you are ready to serve your church with confidence while keeping God at the center of everything you do - this podcast is for you! So grab a notebook and pen to take some great notes. It’s time to serve Him with Excellence! Learn: www.churchfinances.org Community: https://www.facebook.com/groups/churchbookkeepingandclergytax
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Episodes
Monday Jun 05, 2023
Monday Jun 05, 2023
Churches sometimes collect “love offerings” from the congregation for a pastor, visiting minister, volunteer, or staff member in recognition of services rendered.
There really is a lot of confusion over this topic – so much so that pastors from both large and small churches have been prosecuted and convicted of tax evasion over unreported love offerings.
One of the most interesting cases was Felton vs. Commissioner TC Memo 2018-168
the Tax Court held that Rev. Wayne R. Felton of Holy Christian Church in St. Paul Minn. received taxable compensation from members of his congregation rather than personal gifts, despite the contributions' designation as gifts,
Consequently, the Tax Court applied a four-factor test drawn from case law to objectively determine the donors' intent:
Whether the donations were provided in exchange for services
Whether the minister or other church authorities requested the donations;
Whether the donations were part of a routine, highly structured program and given by individual church members or the congregation as a whole
Whether the minister received a separate salary from the church, and, if so, its amount in relation to the donations
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/6steps biz owners
https://churchfinances.ck.page/guide everybody
Schedule a Consultation:
https://churchfinances.org/bizconsult biz owners
https://churchfinances.org/consult church staff/volunteer
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
Wednesday May 31, 2023
Wednesday May 31, 2023
One of my Top 5 books of all time is Jennifer Allwood's "Fear is not the Boss of You". In this episode I go over some of the highlights of the book and how you can apply them to your business, personal life, relationships, etc.
If you're ready to get unstock and live out the calling the Lord has on your life, take a listen to this episode and see how God shows up!
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/6steps biz owners
https://churchfinances.ck.page/guide everybody
Schedule a Consultation:
https://churchfinances.org/bizconsult biz owners
https://churchfinances.org/consult church staff/volunteer
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
Monday May 29, 2023
Monday May 29, 2023
When it comes to church finances, it's not just about balancing the books or paying the bills on time – which are absolutely very important by the way. It's also about equipping our congregation members with the knowledge and tools they need to be responsible stewards of their own finances. By building a financially literate church community, we can help individuals manage their money wisely, reduce financial stress, and enable greater generosity. So, let's dive into some practical strategies and resources for achieving this goal.
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/6steps biz owners
https://churchfinances.ck.page/guide everybody
Work with me!
Church Church Consultation:
www.churchfinances.org/consult
Business Consultation
www.churchfinances.org/bizconsult
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
Wednesday May 24, 2023
Wednesday May 24, 2023
Welcome to the "Bookkeeping with a Purpose," podcast.
In today’s episode we are going to be talking about the Armor of God and how it applies to you as a business owner. I will give you practical examples of how to get up, dress up and never give up on the dream God has given you for your business.
We will cover each piece of the Armor:
* Belt of Truth
* Breastplate of Righteousness
* Shoes of Peace
* Shield of Faith
* Helmet of Salvation
* Sword of the Spirit
Covering it all in the power of prayer!
I am super-excited to share today’s truths with you so let’s get going!
I pray this blesses you!
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/6steps
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
Monday May 22, 2023
Monday May 22, 2023
Welcome to the "Bookkeeping with a Purpose," podcast.
Today's topic is Why pledging money to your church is significant.
We will explore the principles behind church giving and its impact on the church, personal growth and your community.
Key Points:
Stewardship:
We’ll touch on how stewardship is a key discipline mentioned through the Bible.
Gratitude:
Expressing appreciation for spiritual guidance, support, and fellowship can be accomplished by contributing financially.
Compassion and Social Responsibility:
Church funds support charitable initiatives and outreach programs which can help to actively create positive change and help those in need. Pledging money as a means of expressing compassion and fulfilling social responsibilities is a great way to help make the world a better place.
The Courts are also taking charitable pledges seriously. We will briefly talk about a couple of the more recent court decisions involving pledges that individuals tried to default on. This part is REALLY interesting!
So, whether it's through stewardship, gratitude, or compassion for others, pledging money to your church can be a powerful way to align your values with your actions. It enables you to support the spiritual and material well-being of your community while nurturing your own spiritual journey.
I pray this blesses you!
xo,
Michelle
Next Steps:
Grab Your Freebies:
https://churchfinances.ck.page/6steps
https://churchfinances.ck.page/guide
Learn More:
www.churchfinances.org
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
Wednesday May 17, 2023
Wednesday May 17, 2023
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)
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax (EVERYBODY)
Monday May 15, 2023
Monday May 15, 2023
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
Wednesday May 10, 2023
Wednesday May 10, 2023
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)
Monday May 08, 2023
Monday May 08, 2023
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)
Wednesday May 03, 2023
Wednesday May 03, 2023
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)