It’s Time To Stop Making Payroll Mistakes

Payroll is complicated. There are a lot of tasks, laws, forms, and calculations. With so many things to remember, it’s easy to make a mistake. You should not take payroll errors lightly. Mistakes can result in penalties, interest, and even jail time.  The best way to avoid payroll mistakes is by knowing what to look…

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What Should The Gift Acknowledgement Letter Contain?

Prompt and thoughtful gift acknowledgments are central to reporting compliance. IRS regulations govern what documentation donors need in order to claim a deduction for their charitable contribution.  It’s helpful to have the sample template ready to send out that can be customized as donations arrive, and it’s imperative to have a good system for recording…

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Can employees take home old computers for free?

Question: Our church just completed a major upgrade of everyone’s computers. The computers that were replaced were ancient by today’s standards. Rather than throw them out, one staff member suggested that employees take their old computers home. He also said that since the computers are old, we don’t have to worry about taxes. The church board is uncomfortable with this nontaxable suggestion….

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Must Churches File for 501(c)(3) Tax Exemption?

The Internal Revenue Code section 508(c) sets out that churches are automatically recognized as tax-exempt under 501(c)(3), and the IRS does not require churches to apply for tax-exempt status if they meet the following criteria: a distinct legal existence; a recognized creed and form of worship; a definite and distinct ecclesiastical government; a formal code…

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What Constitutes a Quid Pro Quo Contributions?

A quid pro quo contribution is one that is made by a donor in exchange for goods or services. In some cases, contributions may include a quid pro quo contribution and a true contribution, e.g., a ticket for an event that includes a meal. A church or religious organization must provide a written statement to…

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