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

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

Written by: Michelle R Brown EA Christian Business Mentor Enrolled Agent
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  • Summary

  • 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
    Copyright 2023 All rights reserved.
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Episodes
  • Ep 65 ~ Navigating the IRS Maze: Avoiding Financial Pitfalls - Key Tips for Churches

    Ep 65 ~ Navigating the IRS Maze: Avoiding Financial Pitfalls - Key Tips for Churches
    Jun 4 2024

    Welcome to The Church Finance & Minister Tax Podcast! Are you ready to safeguard your church's financial health? Join us as we uncover common pitfalls and share tips for financial compliance. From avoiding the commingling of funds to reporting taxable income, get ready to empower your church with the knowledge it needs. Stay tuned for valuable insights coming up in our final part of the 3-part series on Navigating the IRS.

    Episode Quote

    "You are successful when you do what you need to do today." — Craig Groeschel, "Think Ahead"

    Episode Highlights Common Pitfalls in Church Financial Compliance

    1. Commingling Personal and Church Finances

      • Issue: Using church funds for personal expenses and reimbursing later blurs financial lines.
      • Consequences: Lack of transparency, serious tax implications.
      • Solution: Maintain separate personal and church accounts, revoke credit card privileges if misused, and ensure expenses are properly handled and reported.

    2. Failure to Report Taxable Income

      • Issue: Ministers failing to report housing allowances and other taxable income accurately.
      • Consequences: Penalties and legal repercussions from the IRS.
      • Solution: Understand housing allowances are subject to Self-Employment Contributions Act (SECA) taxes, and consider voluntary Federal withholding by the church to aid compliance.

    3. Importance of Professional Guidance

      • Issue: Unique complexities in church finances require specialized knowledge.
      • Solution: Seek professionals with expertise in nonprofit and church finances. Research and choose the right financial advisor, attend relevant training, and continuously educate church leaders on financial laws and best practices.
    Special Announcement
    • New Course: Intro to Church Finances
      • Details: A comprehensive beginners course to help church leaders understand financial management and compliance.
      • Join the Waitlist: Be the first to know when it launches by signing up at www.introtochurchfinances.com.
    Summary

    Maintaining financial compliance in church operations requires consistency, transparency, and a commitment to understanding and fulfilling the legal and tax obligations for the church. By avoiding common pitfalls such as commingling funds and failing to report taxable income, and seeking professional guidance, church leaders can safeguard their organization's financial integrity, allowing staff to focus on their spiritual missions without the stress of financial mismanagement.

    Thank you for joining us for the final episode of our Navigating the IRS series. Stay tuned for more episodes on how to empower your church with sound financial practices.

    This podcast is brought to you by Hallmark Tax Solutions, LLC, specializing in church financial compliance and minister tax services. Learn more at Hallmark Tax Solutions, LLC.

    xo, Michelle Next Steps: Grab Your Freebies:

    Six Steps to Doing Business God's Way biz owners

    A QuickStart Guide to Church Finances everybody

    Looking for a group of like-minded people that want to keep Jesus at the center of everything they do?

    Join the BEST Facebook group for church finances at Church Bookkeeping and Clergy Tax Facebook Group

    Need an extra hand with an immediate situation? Schedule a Consultation:

    Schedule Consultation
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    16 mins
  • Ep 64 ~ Know your value

    Ep 64 ~ Know your value
    May 28 2024
    In today's episode I share about a recent consultation session I had and what I shared about not allowing others to walk over you even when you work at a church!

    Listen in and hear the passion :-)

    xo, Michelle Next Steps: Grab Your Freebies:

    Six Steps to Doing Business God's Way biz owners

    A QuickStart Guide to Church Finances everybody

    Looking for a group of like-minded people that want to keep Jesus at the center of everything they do?

    Join the BEST FaceBook group for church finances at Church Bookkeeping and Clergy Tax Facebook Group

    Need an extra hand with an immediate situation? Schedule a Consultation:

    Schedule Consultation
    Show more Show less
    13 mins
  • Ep 63~ Building Strong Financial Foundations for your Church

    Ep 63~ Building Strong Financial Foundations for your Church
    May 21 2024

    Are you a church leader feeling overwhelmed by financial compliance? Stay tuned for part 2 of our series on Navigating the IRS maze: Tips for Church Financial Compliance. From maintaining accurate records to staying up-to-date with IRS filings, we've got you covered. Get ready to streamline your financial processes and gain peace of mind. I’m so happy to have you join me today!

    As promised.... here is the IRS blurb you need to include in your contribution statements (or something similar)

    • Statement that goods or services, if any, that the organization provided in return for the contribution consisted entirely of intangible religious benefits, if that was the case.
    xo, Michelle Next Steps: Grab Your Freebies:

    Six Steps to Doing Business God's Way biz owners

    A QuickStart Guide to Church Finances everybody

    Looking for a group of like-minded people that want to keep Jesus at the center of everything they do?

    Join the BEST FaceBook group for church finances at Church Bookkeeping and Clergy Tax Facebook Group

    Need an extra hand with an immediate situation? Schedule a Consultation:

    Schedule Consultation
    Show more Show less
    16 mins
Spirituality Ministry & Evangelism Management & Leadership Economics
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