Church Finance Tips

2014 Mileage Reimbursement Rate
The Internal Revenue Service issued the 2014 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on...
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4 Most Important Things That Should Be on Your Contribution Statement
Is your church or ministry issuing IRS compliant contribution statements? Imagine what would happen if your pastor’s tax return or a member’s tax return was audited and the IRS requested...
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Business Credit Cards
Does your church or ministry use a business credit card? If you’re the bookkeeper and your ministry is using a debit card or credit card, I know you have your...
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How much ministerial debt is too much debt?
Lenders use a formula called the Debt Coverage Ratio to determine whether a ministry’s debt is reasonable or too high.  The Debt Coverage Ratio compares the borrower’s annual net income...
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Don’t throw away your bank and credit card statements.
OMG! I’ve seen this one too many times. Here’s the scenario.  The pastor or other board member receives all the monthly bank statements and credit card statements.  They look over...
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Remember to keep personal fina…
Remember to keep personal finances separate from the church/ministry. Otherwise it will catch up with you some day.
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Did your church/ministry board…
Did your church/ministry board approve your last pay raise? Or those paychecks you’ve been writing to yourself? Uh Oh!
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