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 […]
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 supporting […]
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 […]
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 […]
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 […]
