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...
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...