John served as the Senior Pastor of the little Church in rural Connecticut. Their attendance rarely exceeded 100, yet they were proud of the work throughout the year. Their small Church structure and modest property may not have been that of the mega-ministries, but Pastor John and his congregation were proud of it and ensured […]
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Entries by chitwoods
As I travel across the country assisting Churches and Clergy with their Church books and records, I am constantly amazed at the number of Churches and Pastors who feel as if they are not required or should not obtain a legal 501(c)(3) exemption for their Church and Ministry. Nothing could be further from the truth. […]
Over the years, our Government and the Internal Revenue Service (IRS) have stripped away our allowable deductions for income tax purposes. The supposed reasoning was to streamline the tax code and bring more revenue into the Government coffers. However, the tax code has not been streamlined or simplified, and regardless of the amount of revenue, […]
The 2017 Tax Reform Act (H.R. 1) reveals many surprises for Churches. One of these is the Unrelated Business Income section. In the past, a Church was allowed to have fund-raisers and other Unrelated Business Income (UBIT) without a requirement to report it to the Internal Revenue Service if all of that income for the […]
Pastor Jones called our office, upset that he had received a call from “the IRS.”The individual who had called him told him that the IRS had deposited a refund into his bank account in error and that he needed to forward that refund to them immediately.The Pastor checked his bank account to discover an actual […]
Over the years, our Government and the Internal Revenue Service (IRS) have stripped away our allowable deductions for income tax purposes. The supposed reasoning included streamlining the tax code and bringing more revenue into the Government coffers. However, the tax code hasn’t been streamlined or simplified. So, regardless of the revenue, the Government continues to […]
Andy Williams recorded a great classic many years ago that began like this: It’s the most wonderful time of the yearWith the kids jingle bellingAnd everyone telling you “Be of good cheer”It’s the most wonderful time of the yearIt’s the hap-happiest season of allWith those holiday greetings and gay happy meetingsWhen friends come to callIt’s […]
Pastors and ministers of religious institutions have come under increased scrutinyrelating to cash practices, and the proper accounting as well as reporting required for each. There was a Pastor of a good Church in the mid-Atlantic region. The Church paid itsobligations promptly each month. To look at it from the outside looking in, everythingseemed fine. […]
Your church might have reduced face-to-face administrations and exercises in light of the COVID-19 epidemic. Nevertheless, there is no halting your church’s finances, contracts, and other monetary commitments. Astute church pioneers will need to be proactive and do everything they can to help their parishioners stay associated with the church, overcome this monetary crisis, and […]
The news and our personal conversations are now being fully monopolized by the Covid-19 virus. However, as believers, fear should never be our response. It is one thing to have a healthy respect for illness and what it can do to our lives. We should do that – and be wise in preventive measures. However, […]