The Church Finance & Minister Tax Podcast- Church finances, Minister Taxes, Minister payroll, IRS Compliance
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. We will also lean into mindset training to help you think like the business professional God created you to be and renewing your mind through the application of truths from the Word of God that will encourage and free you to do business God’s way while learning what you didn’t even know you needed to know! My mission is twofold: #1 to help church bookkeepers/treasurers/finance individuals become more confident in their role and increase their expertise in church finances. #2 to help business owners unapologetically do business God’s way and grow a successful bookkeeping business they feel good about and that helps make the world a better place. 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! I tried to achieve success in the secular world but felt unfulfilled and like an outsider because of my beliefs. I finally realized that taking the risk to create a business (or businesses in my case), where I could openly express my faith and beliefs and to put God at the center of everything I did, was more exciting to me than the fear of the ”what if’s”. So, I did it! Not once, but twice! I want to share with you what I’ve learned through my 20 years of business experience in both Christian retail and my bookkeeping business to help you take that step of faith and walk in courageous obedience to God. If you are ready to serve your church with confidence and/or create a business that keeps God at the center of everything you do WHILE helping to make the world a better place all at the same time - this podcast is for you! So grab your Bible, a notebook or laptop, and the dream God gave you, because we’re doing this. It’s time to serve Him with Excellence! Learn: www.churchfinances.org Community: https://www.facebook.com/groups/churchbookkeepingandclergytax
Listen on:
Episodes
Monday Apr 17, 2023
Monday Apr 17, 2023
Payroll taxes can be confusing to many. Especially if you're not familiar with all the filing requirements. In this episode, I walk you through the Federal payroll forms required for each employee along with the payroll tax filing requirements for the church.
We will cover Employee forms W-4 and I-9 as well as the Employer filing requirements for Form 941.
The forms we will discuss can be found below:
https://www.irs.gov/pub/irs-pdf/fw4.pdf
https://www.uscis.gov/sites/default/files/document/forms/i-9-paper-version.pdf
https://www.irs.gov/pub/irs-pdf/f941.pdf
I hope this helps!
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
Wednesday Apr 12, 2023
Wednesday Apr 12, 2023
I am excited about today's podcast episode because it’s something that I am VERY passionate about. I started my bookkeeping business in my mid-late 40’s. And the closer I got to opening, the more I felt unqualified and too old. I felt that I had missed my opportunity and that I should give up the idea because it was too late.
Thankfully, Holy Spirit knew that I was stuck in some stinking thinking and He helped me to reframe my thinking to be in line with the Father’s will for my life.
In podcast episode 11, I hope to encourage you to take that step of faith and know in your knower, that if the Lord has called you to open a business, then now IS the perfect for you to do that. Regardless of your age.
In the podcast, we are going to look at the following:
1. I cover the stats that show being over 50 years old makes us the ideal Entrepreneurs
2. I touch on 3 areas that I believe make the difference as to why we make such great Entrepreneurs
3. I share the some of the top industries and famous entrepreneurs that started after age 50 and became wildly successful.
4. I debunk your objections as to why you can’t start now and encourage you to answer the question “why not !?!”
As always, thanks for giving some of your time to spend with me.
Be blessed my friend!
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
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
Monday Apr 10, 2023
Monday Apr 10, 2023
This is one of the most argued subjects that I get with church personnel. Yet the IRS is VERY clear on this subject. Let's take a look at what they have to say. The IRS looks at 3 areas to determine how to properly classify your workers. We will look at each area briefly in this post. • Behavior Control • Financial Control • Relationship of the Parties If you would like a printed copy of the above information in more detail IRS Publication 1779 is what you want to research. You cannot take just one of the above and use it for your determination. No single factor from these three groups is conclusive, BUT of the three areas of consideration evaluated by the IRS, behavioral control is given the greatest weight, followed by financial control. I will tell you, according to the IRS, very few ministers qualify as Independent contractors. “Generally, you're an employee if the church or organization you perform services for has the legal right to control both what you do and how you do it, even if you have considerable discretion and freedom of action." For more information about the common-law rules, see Publication 15-A. Employer's Supplemental Tax Guide 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
Join the FB Community: www.facebook.com/groups/churchbookkeepingandclergytax
Wednesday Apr 05, 2023
Wednesday Apr 05, 2023
Everyone wants to be known and understood. And your clients are no different. If you want to run a successful bookkeeping business that you truly love and that brings you joy, you need to work with the clients that are a right fit for you. In today's episode, I am going to walk you through 4 tips to finding your ideal client. 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
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
Monday Apr 03, 2023
Monday Apr 03, 2023
In episode 06 we started this discussion by covering who qualifies for the minister housing allowance, why they want a housing allowance, how to properly designate the housing and how to claim housing on the ministers’ tax return. In this episode, we will conclude the 2-part series with information on when the minister lives in the church parsonage, what expenses are allowed to be included in the housing allowance calculations, and other helpful tips for reducing the ministers tax liability.
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
Join the FB Community:
www.facebook.com/groups/churchbookkeepingandclergytax
Wednesday Mar 29, 2023
Wednesday Mar 29, 2023
I am so pumped and excited to be sharing my very first book review with you. As I have already mentioned… I. LOVE. BOOKS. And I love to read business books as I want to learn everything I can to give my businesses the best chance possible to succeed. The most impactful book to date that I have read is Profit First by Mike Michalowicz. In this episode, I am going to share what I thought were the most note-worthy principals taught in the book and how I implemented those into my personal businesses, both my bookkeeping firm and my bookstore. There is SO much more detail in the book and I hope that you will get you a copy of it soon and not just read it but apply it. I promise you that it’s worth it. And that’s a wrap for todays episode. I pray that it has been helpful to you and that you can apply something you’ve learned to make your job more enjoyable for you and those you serve. Be blessed my friend! See below the Amazon affiliate link so you can get the book at a great price. Book link https://amzn.to/42R8Rc6 If you'd like to read the blog post, click HERE As always, thanks for giving some of your time to spend with me. Be blessed my friend! Michelle Sign up to join our awesome Bookkeeping Business Newsletter and receive a great FREE resource!
Church finance specific FREE resource: https://churchfinances.ck.page/guide
Want to connect with me?
See my contact information below:
Learn: www.churchfinances.org
Connect: info@churchfinances.org
Want to work with me: www.hallmarktax.com
Join us:
www.facebook.com/groups/churchbookkeepingandclergytax
Monday Mar 27, 2023
Monday Mar 27, 2023
In today's episode, I go over the most misunderstood part of church payroll - the minister's housing allowance.
I will touch on three topics:
What defines a qualified minister for housing allowances per the IRS? and Why is the housing allowance important?
How to properly designate the housing allowance.
How to claim the housing allowance on the minister's tax return.
I look forward to walking you through this sometimes complicated issue.
Sign up to join our awesome Newsletter and receive a great FREE Resource!
Church finance specific FREE resource: https://churchfinances.ck.page/guide
Want to connect with me? See my contact information below:
Learn:
www.churchfinances.org
Connect:
info@churchfinances.org
Want to work with me:
www.hallmarktax.com
Join us:
www.facebook.com/groups/churchbookkeepingandclergytax
Wednesday Mar 22, 2023
Wednesday Mar 22, 2023
In this episode I go over 5 things I think you need to know to have a successful bookkeeping business launch. I share tactical steps you can take to increase your chances of success along with what has worked for me. I believe that sharing my personal experience is the best way to help. I hope you enjoy! Want to connect with me? See my contact information below:
Connect: info@churchfinances.org
Want to work with me: www.hallmarktax.com
Join us:
www.facebook.com/groups/churchbookkeepingandclergytax
Monday Mar 20, 2023
Monday Mar 20, 2023
In today’s episode we will be talking about Internal Controls and specifically about choosing the right staff and/or volunteers who will have financial responsibilities. And also about choosing the right firm to outsource your church bookkeeping/payroll services to.
Background check for ALL finance related staff and volunteer positions.
Qualified and capable of becoming qualified.
Resources mentioned to help with educating financial staff and volunteers:
www.ChurchLawandTax.com is the ultimate online resource.
www.freechurchaccounting.com is another great online resource.
www.quickbooksmadeeasy.com offers great courses for Houses of Worship if you use QuickBooks software.
Questions to ask potential outsourced bookkeeping and payroll firms:
What % of their clients are churches?
How long have you worked in the industry?
What type of credentials do you have?
Do you understand clergy payroll and housing allowance?
Any other questions you want to ask
Want to connect with me? See my contact information below:
Learn:
www.churchfinances.org
Connect:
info@churchfinances.org
Want to Work with me?
www.hallmarktax.com
Join us:
www.facebook.com/groups/churchbookkeepingandclergytax
Wednesday Mar 15, 2023
Wednesday Mar 15, 2023
In today's episode you will find the 6 steps that I believe are pertinent to successfully doing business God's way. Short and Sweet! Enjoy!
To check out the Bible verses mentioned in today's podcast, go to www.churchfinances.org/verses
Learn: www.churchfinances.org
Connect: info@churchfinances.org
Join us:
www.facebook.com/groups/churchbookkeepingandclergytax