By Louis P. Barbarin, CPA When it comes to taxes, clergy people often ask questions such as, “How can I save money or reduce my tax bill?” or “Will itemizing my deductions help reduce my tax bill?” or “How does the Housing Allowance affect my taxes?” You might not realize it, but tax planning for […]
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By Michael Prior, J.D. In our first two installments, this series discussed: So, what exactly is planned giving? and Recognizing planned giving as a ministry. Now, we’ll examine how a proactive planned giving stewardship program can deliver impressive, real-world results.
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Date: Wednesday, May 23 Time: 11 AM PT / 2 PM ET Cost: FREE As a faith-based finance organization, you need to provide up-to-the-minute, accurate information to a variety of stakeholders — pastors, ministers, program managers, and board members. But instead, you’re stuck with manual, Excel-based reporting, resulting in delays and inaccurate data. Learn why […]
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On Dec. 20, 2017, Congress passed the Tax Cuts and Jobs Act (the “Act”) which represents the most substantial overhaul of the tax code since the 1990s. The Act brings significant changes to individual and corporate income tax filers. How will the Act affect tax exempt organizations — and specifically, religious organizations? Churches and […]
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By Colin E. Nass, CFP®, AEP®, RICP® & James R. Cook, CFP® Retirement savings plans, such as the 403(b) plan, offer benefits to both employees and employers First, let’s look at how employees can make the most of a 403(b) plan. For many, saving for retirement is one of the largest goals we will need […]
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By RaeAnn Slaybaugh Sixteen years ago, when Collin Lucas joined the staff at Cornerstone Fellowship of Livermore, he worked in IT. However, he also brought with him extensive experience in the business management consulting realm. Now, as Cornerstone’s CFO, his secular business background has proven instrumental in helping build — and fund intelligently — the […]
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In 1992, Dr. Brent Taylor joined the staff at First Baptist Carrollton as the summer youth minister. Seven years later, he was lead pastor. It was his first pastor position. As a new, young pastor, he admits that fundraising represented a very steep learning curve. “I grew up in the church and was part of […]
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By Tim Grabacki It’s not something church business managers think about a lot, but: How you count the money might be affecting the church more than you’d think. Here are three tips on how to better handle cash and checks in your collections. #1: Treat the business office like a business office The mission […]
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By Rev. Dr. Patricia L. Hunter, CFP® Making the decision to meet with a financial planner or advisor can help you focus on putting your own financial house in order and is an important step towards achieving financial wellness. A financial planner can work with you to help determine your long and short term goals […]
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By Don McLeod, CFP® During the first two years of your ministry, you will make the decision of a lifetime — whether or not to opt out of Social Security. This is a hot topic in ministry circles today, and everyone has a personal opinion on the matter. But what does it really mean to […]
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