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Blog Category: Religious

Housing Allowance and Taxes

Housing allowances are wonderful benefits to those who qualify. A clergy who is ordained by a religious body (church or denomination) that performs religious and ministerial duties qualifies for this
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Is Rental Income Taxable?

“If we rent out our church building, is that taxable income?” First, it’s important to determine whether the rental activity itself is substantially related to your tax-exempt purpose and mission.
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2021 Standard Mileage Rates Updated for Business, Medical, Charity Travel

The Internal Revenue Service has released the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable and medical purposes.   The
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5 Tips for This Season

1. Budget As you budget for the rest of your fiscal year or the next, the best practice right now is to create multiple scenario budgets ranging from most to
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Internal Controls – COVID style

Auditors love internal controls so it should come as no surprise that despite our current COVID environment, internal controls are still top of mind. Risk has always been a part
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Protecting Those You Serve

Churches and all places of worship are expected to demonstrate integrity and accountability. Thus, headlines regarding misconduct, sexual abuse, cover-up, or fraud may severely damage the church’s reputation and future
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Capturing Institutional Knowledge

Institutional knowledge. What your staff knows is one of the most valuable intangible assets of every organization. It’s often taken for granted and losing it is costly, frustrating, and inefficient.

Faith in Numbers Recap

Faith in Numbers was created as an educational offering to churches and religious organizations in the Midwest region. Additionally, we wanted to provide an opportunity to gather with similar organizations

Selecting the Right Retirement Plan for your Church

Have you heard of the 403(b)(9) plan? This type of plan, as opposed to an IRA, 403(b), 403(b)(7) or a 401(k) plan, has two key benefits for ministers described in

New Revenue Recognition Standard – Will it impact me?

On June 21, 2018, the Financial Accounting Standards Board (FASB) issued Accounting Standard Update (ASU) 2018-08: Clarifying the Scope and the Accounting Guidance for Contributions Received and Contributions Made.  This